Hong Kong is within a four-hour radius by airto most other major Asian cities and morethan a quarter of the entire global population,making it an ideal location for regionalheadquarters. With 7.84 million overnightvisitor from Mainland China in the first half of2013 alone, opening an office in Hong Kongprovides the ideal “shop-front” for Chinesecustomers/clients. Hong Kong […]
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It’s Been a Quiet Week Not a lot was going on in the world of tax last week, so I thought I would use this week’s edition to shamelessly promote our advisory services offering again, and also to revisit the residential land bright-line rules with just some reminder tips, further to the recent extension of […]
GST – New Due Dates The recent passing of the Taxation (Annual Rates for 2017–18, Employment and Investment Income, and Remedial Matters) Act 2018, saw the inclusion of section 142AB into the Tax Administration Act 1994. The provision sets a new due date for certain assessments and provides that the Commissioner must set a new […]
NPB Asset sales & GST… IR has released an issues paper entitled “GST on assets sold by non-profit bodies (NPB’s)”. The paper sets out proposals to amend the GST legislation in order to clarify the GST rules applying to the sale of assets by charities and other NPB’s. The prime reason for the legislative change […]
Partnership Act to get a makeover… Presently under review by the Government, the Partnership Act 1908 which governs such things as the rights and obligations of partners to each other and to third parties, has had its draft Bill recently released, the aim of the new legislation being to make the rules which apply to […]
There is no doubt in today’s world that compliance is a major focus for businesses as governments impose new measures to establish controls on transfers of funds in a bid to combat money laundering, terrorism financing and tax evasion.Of course, this puts a lot of strain on the world’s economies and the means by which […]
AML Changes on the Doorstep… While not in the nature of tax, I thought it would be useful to mention the latest AML update as you should be aware by now that effective from 1st October 2018, accountants will be subject to the same compliance obligations under the AML regime, as those presently in place […]
Distributing Trust’s “Goods” to Beneficiaries… IR’s latest draft interpretation statement, PUB00281, considers the GST issues that may arise when a GST registered trust makes a distribution of goods (that form part of the trust’s taxable activity) to a beneficiary. Since section 2A(1)(f) of the GST Act applies to treat a trustee of a trust and […]
2018 looks particularly promising for M&A operations in Italy. Thanks to the growth of the Italian economy, which will remain stable although not reaching pre-crisis level, and the overcoming of the critical issues in the banking sector, the counter value of the transactions is already estimated at € 37 billions. Against this background, it is […]
IR Global, the world’s largest exclusive network of advisory firms is delighted to introduce C.P.C. Jaime Zaga Hadid of BDO Mexico. Jaime has joined IR as our exclusive Tax (Accountants) Member in Mexico . “BDO Castillo Miranda is a member firm of BDO International, the world’s fifth network of public accountants and business consultants, with 1,500 offices in […]
IR Global, the world’s largest exclusive network of advisory firms is delighted to introduce C.P.A & C.F Gabriel Llamas Monjardín of BDO Mexico. Gabriel has joined IR as our exclusive Tax (Accountants) Member in Mexico . “BDO Castillo Miranda is a member firm of BDO International, the world’s fifth network of public accountants and business consultants, […]