China’s State Administration of Taxation has issued guidelines to reduce the risk of double taxation of gains where businesses transfer restricted stocks that they hold on behalf of other businesses.
Multinational companies in Asia need to “think on their feet” and “simplify existing structures” if they are to avoid the attention of increasingly revenue-hungry tax authorities, says a group of the region’s leading tax directors.
India’s tax authorities were dealt a blow on Friday after the Andhra Pradesh High Court dismissed their challenge to the taxability of a cross-border transaction.
India’s plans for a GST were given a boost today with the appointment of Sushil Modi as the new chairman of the Empowered Committee of State Finance Ministers.
