Articles exploring tax issues to help you gain trust and stay ahead, enabling you to manage your tax transparently and ethically.
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New technology can free up tax professionals to take on a strategically influential role and generate the analytical insights and real-time information to support this. So how can a tax function take advantage of the changes ahead?
The structure of the VAT rates in China have been simplified into three brackets.
Singapore is amongst the earliest non OECD countries to adopt and consistently implement the OECD BEPS Actions. This signing of the Multilateral Convention is a further commitment towards ensuring that profits should be attributable to the jurisdiction in which the activities occur that give rise to the profits.
As most of the Base Erosion and Profit Shifting (BEPS) Action Plan is made up of best practice recommendations rather than ‘red line’ requirements, it was always going to be applied electively and in different ways from country to country.
Singapore Budget 2017 observations and analysis: Moving Forward Together seminar, hosted on Wednesday 8 March 2017.
As of next year, beginning 1 January 2018 a non-established of services not solely subject to the place of recipient principle in Switzerland and Liechtenstein has to register for VAT, unless the non-established business can prove that its worldwide annual revenue from supplies is less than CHF 100,000. This revenue threshold was previously limited to the territory of Switzerland and Liechtenstein and is newly extended to worldwide scope.
Finance Minister, Mr Heng Swee Keat delivered the 2017 Singapore Budget yesterday afternoon. We’ve attached a Budget Summary to help you understand the initiatives that have been announced and how we believe it will impact businesses and individuals.
Emerging markets are at the forefront of the global shift from direct to indirect taxation. Reduced corporate tax rates in many countries and new or enhanced value-added-tax (VAT) or goods-and-services-tax (GST) are causing the shift.
Across a number of countries, the way internationally mobile employees are taxed is being shaken-up. This follows the G20/OECD-led Base Erosion and Profit Shifting (BEPS) Action Plan recommendations set out over a year ago.
A flurry of sign-ups in the first half of 2016 took the number of countries agreeing to introduce the minimum BEPS standards1, including country-by-country (CbC) reporting, beyond 80.
Our latest global survey found that businesses biggest concerns stemming from the Organisation for Economic Co-operation and Development’s (OECD’s) Base Erosion and Profit Shifting (BEPS) Action Plan are additional administrative burdens and cyber security. With the demand of information that will be required and the sharing expected across local and foreign governments, is this a big surprise? Probably not, but our survey surprising found that nearly one year after release 78% of businesses have not changed their planning approach to taxes.
With more than 80 countries now having agreed to adopt at least the minimum elements of the Base Erosion and Profit Shifting (BEPS) Action Plan, there’s no getting around BEPS.
18 Feb 2025
Off the back of the Singapore Budget announcement by Finance Minister and Prime Minister Mr Lawrence Wong on 18 February 2025, experts from Grant Thornton Singapore share their thoughts.
