Philippine’s TRAIN introduced amendments to personal income taxation, transfer taxes, taxation of sale of shares of stocks, and documentary stamp tax.
This colossal data leak, the first of its kind, was analysed for a year and compiled into what is now known as the Panama Papers.
Tran Lam Tung, Vietnamese Embassy trade attache in Phnom Penh, said the double taxation treaty encouraged international trade and investment along with the free flow of technology.
Granted, most of the money was simply being hidden from current or ex wives, boyfriends, business partners and taxing authorities, in a few cases the funds were exceedingly dirty.
India's Income Tax department has frozen Cognizant Technology Solutions Corp's bank accounts and deposits in Chennai and Mumbai for allegedly evading a dividend distribution tax (DDT), according to a report on Tuesday.
“Our corporate tax rate was, up until December 22, the highest in the developed world at 35%,” he says, pointing to the ‘why’ companies will look at the US differently now.
The double taxation avoidance pact will stimulate flow of investment, technology and personnel from India to Hong Kong and vice versa, and prevent tax evasion
The MPFA applauds the plan, according to Cheng Yan-chee, its chief corporate affairs & executive director.