Australia’s opposition Labor party has received strong criticism from business leaders and advisers over its plans to increase the tax burden on corporations by changing the thin capitalisation threshold.
Indian tax authorities have said that businesses spending higher than average on advertising, marketing, and promotions (AMP) expenses are creating marketing intangibles for related foreign enterprises and are therefore liable for taxes on expenditures above average for comparable transactions.
Despite a self-touted reputation as a leading global financial centre, Hong Kong’s Inland Revenue Department (IRD) has been criticised by tax practitioners for overly aggressive audits on asset managers. Hong Kong has limited transfer pricing legislation and often seeks to enforce arm’s-length pricing through practice notes and a network of tax treaties.
