Asia-Pacific
Australia 2017 year-in-review: tax authority takes aim at large multinational business
Zara Ritchie and Natalya Marenina of BDO take a look back at the most significant Australian international tax developments of 2017 — including the new focus on significant global entities, transfer pricing documentation, diverted profits tax, and cross-boarder financing — and consider what 2018 is likely to bring . . .
Chris Jordan reappointed Australian Commissioner of Taxation
Chris Jordan’s term as Australian Commissioner of Taxation (ATO) has been extended through. . .
Australia issues guidelines for simplified transfer pricing record-keeping
The Australian Taxation Office (ATO), on 22 February, released Practical Compliance Guideline PCG 2017/2 (PCG 2017/2), outlining simplified transfer pricing record-keeping options to minimise record-keeping for eligible taxpayers, writes Davide Anghileri . . .
Hong Kong, Turkey to negotiate tax treaty
The government of Hong Kong has today announced that it will begin negotiations for a tax treaty with Turkey . . .
India extends FATCA due diligence deadline for accounts that become high-value
The Indian government has today announced that it has extended FATCA due diligence deadlines . . .
Tax treaty between Cyprus and Bahrain enters into force
A tax treaty between Cyprus and Bahrain entered in to force on April 26, Cyprus’s Ministry of Finance . . .
Australian budget includes UK-style diverted profits tax, anti-hybrid rules
The Australian government on May 3 released its 2016–17 budget, announcing several measures to crack down on multinational tax avoidance, including a tough new diverted profits tax (DPT), anti-hybrid and transfer pricing rules patterned after . . .
Foreign companies with India PoEM subject to higher 40 percent tax rate, government concludes
Mohit Agarwal, a Tax Director at PwC India, discusses important guidance issued by the Indian government on June 22 relating to computation of tax liability, applicable tax rates, and related compliance once a foreign company’s ‘place of effective management’ (PoEM), and thus the company’s tax residence, is determined to be in India . . .
India-Korea bilateral advance pricing agreements can include rollback, Indian tax board says
“Rollback” of a transfer pricing method to resolve disputes in previous open tax years is permitted for bilateral advance pricing. . . .
India-Belgium tax treaty protocol signed
India and Belgium today signed a protocol to their existing tax treaty to broaden the scope of exchange of tax information between the countries, India’s . . .
Australia consults on signing of BEPS multilateral instrument
Australia Treasury has released a discussion paper seeking comments on whether the government should sign . . .
Canada, Israel sign tax treaty, text available
Tax agreements between Hong Kong and Nordic countries enter into force
Hong Kong’s Inland Revenue Department on March 2 announced the entry into force of tax information exchange agreements with Denmark, the Faroe Islands, Iceland, Norway, Sweden, and . . .