Few would argue that the global tax environment today has become more dynamic and complex than ever before.
For businesses, it is clear that keeping up with tax developments in their home country is not enough. The need for this vigilance on the tax front is particularly heightened for companies with a regional or global presence. We can all expect to face a wide raft of tax changes in the international tax space.
It is this need to be attuned to international developments that has prompted us to devote this issue of You and The Taxman to focus on some of the most pressing cross-border tax issues across the Asia-Pacific and globally.
Clearly, the developments in the Base Erosion and Profit Shifting (BEPS) project have been central to many legislative and tax changes around the world. More radical changes await the international tax community under the BEPS 2.0 initiative. BEPS 2.0 looks set to be a gamechanger and multinationals must be prepared to manage the impending sea-change.
In this issue, we also take a closer look at some of the topical tax issues in the Asia-Pacific. We discuss how Southeast Asia, with its investment-friendly climate and access to multiple free trade agreements, can stand to benefit from growth opportunities amidst ongoing trade tensions. In India, the interpretation of the permanent establishments principle has come under the spotlight in view of a number of recent court rulings — we highlight the issues that multinationals need to be aware of. In addition, we have also included insights on the impact of recent UK tax changes on non-resident real estate investors.
Our selection of articles in this issue includes:
- What does BEPS 2.0 mean for your business?
- Peer review of preferential tax regimes: how Southeast Asia fared
- Trade disruption: will Southeast Asia benefit?
- Understanding Permanent Establishments in India
- Transfer pricing approaches for commodity marketing and trading activities: more clarity and certainty
- What you need to know about recent changes in UK real estate tax
