The Inland Revenue Authority of Singapore (IRAS) has announced that taxpayers must report certain details of related party transactions (RPT) if the value of RPT in the audited accounts for the financial year exceeds S$15 million (US$10.8 million)
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
Hong Kong concluded its first Advance Pricing Arrangement agreement with the Netherlands last September and with Japan in January this year. The expeditious negotiations indicate a commitment to reduce effective tax rates for businesses in Hong Kong
The Inland Revenue Authority of Singapore has just issued revised guidelines on transfer pricing that provide a better defined view of how it will handle transfer pricing matters. Here’s what CFOs and tax specialists need to know
Countries that account for 90% of the world economy have agreed to require companies to report taxes paid and other data in every jurisdiction where they operate to minimize tax abuses. What you can do to avoid getting caught in the looming draconian tax dragnet
Financial In- and Outsourcing in Asia Pacific: Part 2 There are hidden costs in setting up finance shared services centers, and there are hidden costs in not having finance shared services centers. Also hear about what may happen to the role of the local CFO with the implementation of finance shared services in Asia Pacific.