Tax

Tax transparency – a looming issue for Private Groups?

In efforts to increase the “public awareness of corporate tax issues,” tax transparency has been a popular policy option to “maintain public pressure on aggressive tax practices”. Whilst the focus has typically been on large multinationals, broader tax transparency measures … Continue reading

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Filed under Australia, Tax

Private Groups attracting ATO attention

The ATO has once again shown Private Groups that it is committed to greater transparency – however only this time, it is the ATO that is being transparent. Late last week, the ATO released a list of behaviours, characteristics and … Continue reading

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Filed under Australia, Tax

France – Latest news for trusts

The trust regime in France was marked by two events this summer: the suspension of the right to consult the public register of trusts, and a decision of the French Supreme Court which brings into question the constitutionality of the fine … Continue reading

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Filed under France, Private wealth and trusts, Tax

Tax Adviser or Australian Taxation Office Informer? The Mandatory Disclosure Proposal

As part of the 2016-17 Federal Budget, the Government announced that it will introduce Mandatory Disclosure Rules to require tax advisers (and in certain circumstances taxpayers) to report ‘aggressive tax arrangements’ to the Australian Taxation Office ("ATO"). At the same … Continue reading

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Filed under Australia, Tax

Australian Federal Budget 2016 – Some reflections for large private groups and HNWIs

The 2016-17 Australian Federal Budget confirms that the Australian Taxation Office (ATO) will continue to be heavily focused on the tax affairs of private groups and high net worth individuals (HNWIs) (and their tax advisors).  However, there will be some … Continue reading

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Filed under Australia, Tax

Australia introduces a new 10 per cent withholding obligation on purchasers of Australian real property from foreign residents

Amendments to Australian tax law have imposed a new 10 per cent non-final withholding obligation on the purchaser of interests in Australian real property (whether direct or indirect) when acquired from a foreign resident. The new measures will generally apply … Continue reading

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Filed under Australia, Tax

UK Budget 2016

Last week the UK Chancellor of the Exchequer handed down his eighth Budget. Whilst the 'sugar tax' will attract many of the headlines, there was much else to digest for corporates and individuals alike. 

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Filed under London, Tax

The Proposed Automatic Exchange of Financial Information by the Hong Kong Inland Revenue Department with other Governments

The Hong Kong Government proposes to introduce draft legislation early this year in respect of a new information collecting regime from banks, custodians, insurance companies, brokers and investment entities.  The regime involves the collection of certain financial information of overseas … Continue reading

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Filed under Hong Kong and Singapore, Tax

Trust filing duties under the French Tax Code

Although an entity is not identified as a "trust" in its country of establishment, it could fall within the scope of the filing duty in France in relation to trusts as long as it meets the French Tax Code (hereinafter … Continue reading

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Filed under France, Tax