Keyword: BEPS (Base Erosion and Profit Shifting)
Singapore has signed Multilateral Competent Authority Agreements on the automatic exchange of financial account information, signaling its commitment to global tax cooperation – and to requiring unprecedented transparency from companies
Singapore has signed the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting.
A new convention signed by 68 nations (but not the US) promises to reduce opportunities for tax avoidance
Predictability and consistency of tax regimes is the most important factor in business decision-making, according to Deloitte, who recently released the third edition of their Asia Pacific Tax Complexity Survey report.
Increased outsourcing of back office and payment factory processes and more involvement with local finance teams for exposure reporting create new complexities in implementing regulations, safeguarding liquidity and managing risks.
More than 100 jurisdictions have concluded negotiations on a multilateral instrument that will swiftly implement a series of tax treaty measures to update international tax rules and lessen the opportunity for tax avoidance by multinational enterprises.
The BEPS Project aims to deliver solutions for governments to close the gaps that allow corporate profits to disappear or be artificially shifted to low or no tax environments. Some in Asia are taking action that appears inspired by these BEPS solutions
Thomson Reuters has released two products to help multinational companies (MNCs) manage the regulatory complexity and uncertainty created by sweeping tax and financial reporting requirements.
China, India and Singapore will require country-by-country reporting next year, while Hong Kong begins automatic information exchanges by end 2018. Asian companies can expect closer scrutiny of their intercompany accounting, among others, from 2017
While fiscal consolidation was the key driver of tax reforms in the years following the global economic crisis, the main emphasis of recent tax reforms has shifted back to tax measures aimed at boosting economic growth, according to a new OECD report.