http://www.pwccn.com PwC China News en-en 2003-2012 PricewaterhouseCoopers http://www.pwccn.com/webmedia/634342554775622417_pwc_logo.jpg http://www.pwccn.com http://pwc.to/18HxSGm China Tax/Business News Flash http://pwc.to/18HxSGm Wed, 8 May 2013 16:17:00 +0800 http://pwc.to/13uFlGj Business Tax ("BT") on disposal of listed "A" shares by both domestic and foreign private equity funds that have invested in these shares as pre-listing strategic investor has been an unclear China tax issue. The uncertainty mainly lies in the taxation scope and the deduction cost base. It is important for those foreign investors who have divestment plan to get prepared for this BT exposure as BT is generally not protected by any tax treaties. http://pwc.to/13uFlGj Wed, 8 May 2013 16:17:00 +0800 http://pwc.to/ZX2QDO Updates and analysis on international tax changes around the world. Topics include China enters into double tax treaties with Botswana, Ecuador, and Uganda and renegotiates double tax treaty with Denmark http://pwc.to/ZX2QDO Wed, 8 May 2013 10:54:00 +0800 http://pwc.to/10Uw6Km Updates and analysis on international tax changes around the world http://pwc.to/10Uw6Km Wed, 8 May 2013 10:54:00 +0800 http://pwc.to/10n8VfR New guidance on accounting for joint arrangements - a significant issue for the oil & gas sector http://pwc.to/10n8VfR Wed, 8 May 2013 10:53:00 +0800 http://pwc.to/10Uw05b This publication is a practical guide to the new IFRS standards and interpretations that come into effect for 2013 year ends. Ten new and revised standards and one new interpretation are now mandatory. http://pwc.to/10Uw05b Thu, 2 May 2013 16:31:00 +0800 http://pwc.to/127SfY2 In this report, we focus on how companies can reach 2020 in a position to benefit from more favourable conditions thereafter. http://pwc.to/127SfY2 Wed, 24 Apr 2013 17:36:00 +0800 http://pwc.to/17YUQqV http://pwc.to/17YUQqV Wed, 24 Apr 2013 17:36:00 +0800 http://pwc.to/YSAhw1 In this IFRS/HKFRS News, we update you on Interpretation Committee's debates on the meaning of 'high quality' and 'a deep market'. Additionally, we share with you several updates from Cannon Street including ED on IAS 19R employee contributions, early adoption of revenue standard and IASB work plan update, etc. And starting from this issue, we introduce new series of questions and answers, which look at a different financial reporting topic each month, by alphabet. This month, we start with A for 'associates'. http://pwc.to/YSAhw1 Wed, 24 Apr 2013 13:53:00 +0800 http://pwc.to/1698x9g Hong Kong Tax News Flash http://pwc.to/1698x9g Wed, 24 Apr 2013 11:42:00 +0800 http://pwc.to/ZX1Sax China Tax/Business News Flash http://pwc.to/ZX1Sax Wed, 3 Apr 2013 14:55:00 +0800 http://pwc.to/17oAnOy An overview of taxes levied in the People's Republic of China http://pwc.to/17oAnOy Wed, 3 Apr 2013 14:29:00 +0800 http://pwc.to/12r8n8D China Tax/Business News Flash http://pwc.to/12r8n8D Wed, 3 Apr 2013 11:15:00 +0800 http://pwc.to/124TpDH ED on impairment of financial instruments, IASB's educational material on unquoted equity instruments, key effects of transitioning to IFRS http://pwc.to/124TpDH Fri, 1 Mar 2013 19:31:00 +0800 http://pwc.to/13SShoC China Tax/Business News Flash http://pwc.to/13SShoC Fri, 1 Mar 2013 17:00:00 +0800 http://pwc.to/10sZvvg 16th Annual Global CEO Survey results indicate 87% of CEOs are changing their strategies for customer growth, loyalty and retention http://pwc.to/10sZvvg Fri, 1 Mar 2013 16:56:00 +0800 http://pwc.to/18EVQSC 16th Annual Global CEO Survey results indicate 82% of CEOs are concerned about volatile or uncertain economic growth http://pwc.to/18EVQSC Fri, 1 Mar 2013 16:23:00 +0800 http://pwc.to/18EVLOB China Tax/Business News Flash http://pwc.to/18EVLOB Fri, 1 Mar 2013 15:13:00 +0800 http://pwc.to/YQHuGm Foreign investment in China is at a defining moment. While China's economic growth has been nothing short of spectacular amidst a global slowdown, it faces strong competition from other emerging markets that also present favourable returns on investment. http://pwc.to/YQHuGm Fri, 1 Mar 2013 15:11:00 +0800 http://pwc.to/YQ0prn Making a strategic decision to go public is an effective way of propelling a company to higher ground. However, the listing process can be challenging. Proper planning for each stage of the IPO process is essential for your success. This Going Public Guide highlights the events at each stage that will affect you and the services we can offer to help a company through the IPO process. http://pwc.to/YQ0prn Fri, 1 Mar 2013 14:22:00 +0800 http://pwc.to/124TdEu China Tax/Business News Flash http://pwc.to/124TdEu Fri, 1 Mar 2013 12:23:00 +0800 http://pwc.to/10sZzuQ FS News Flash http://pwc.to/10sZzuQ Fri, 1 Mar 2013 11:46:00 +0800 http://pwc.to/10sZirV China Tax/Business News Flash http://pwc.to/10sZirV Fri, 1 Mar 2013 10:55:00 +0800 http://pwc.to/ZTQ60z Classification and measurement of financial instruments, IAS 19 'Employee Benefits' and Cannon Street Press including feedback on hedging review draft, IAS 36 disclosures ED and revenue recognition project http://pwc.to/ZTQ60z Fri, 1 Mar 2013 10:53:00 +0800 http://pwc.to/15EodBy Updates on Hong Kong Budget commentary, highlights, tax facts and figures, and tax rates card http://pwc.to/15EodBy Fri, 1 Mar 2013 06:48:00 +0800 http://pwc.to/13SSRml Updates on IFRS 9, IASB Revenue and impairment of non-financial assets http://pwc.to/13SSRml Thu, 31 Jan 2013 19:31:00 +0800 http://pwc.to/Xyw9to China Tax/Business News Flash http://pwc.to/Xyw9to Wed, 16 Jan 2013 19:31:00 +0800 http://pwc.to/Umj5ug Hong Kong Tax News Flash http://pwc.to/Umj5ug Wed, 16 Jan 2013 19:31:00 +0800 http://pwc.to/VkM84e Private equity in China http://pwc.to/VkM84e Wed, 16 Jan 2013 19:31:00 +0800 http://pwc.to/VkM84e Private equity in China http://pwc.to/VkM84e Wed, 16 Jan 2013 19:31:00 +0800 http://pwc.to/X7c5iq FATCA IGA update http://pwc.to/X7c5iq Wed, 9 Jan 2013 19:31:00 +0800 http://pwc.to/WEWKoy HK Tax News Flash http://pwc.to/WEWKoy Wed, 9 Jan 2013 19:31:00 +0800 http://pwc.to/Ue8TiR An outlook on the Asia Pacific real estate investment and development trends, real estate finance and capital markets, property sectors, metropolitan areas, and other real estate issues based on interviews and surveys from more than 400 industry experts, including investors, fund managers, developers, property companies, lenders, brokers, advisers, and consultants. http://pwc.to/Ue8TiR Wed, 5 Dec 2012 19:31:00 +0800 http://pwc.to/VvtJBf Get the four key challenges that anti-money laundering ("AML") / know your customer ("KYC") professionals should understand as their financial institutions begin to implement FATCA alongside existing account opening and AML/KYC capabilities. Challenges include customer due diligence, intergovernmental agreements, process and technology coordination, and oversight and program governance. http://pwc.to/VvtJBf Wed, 5 Dec 2012 19:31:00 +0800 http://pwc.to/TBy9Rc Our fellow partner Mr Ho Chiu Ping, Dennis is running for his 2nd term in the election. We would like to extend our fullest support and recommend Dennis as a candidate in the Council for the coming 2 years. Your participation is important - Please cast your vote and encourage your colleagues and friends to support Dennis. http://pwc.to/TBy9Rc Wed, 5 Dec 2012 19:31:00 +0800 http://pwc.to/V46msm Get the highlights of the long-awaited breakthrough to the regulatory basis for equity contribution to foreign-invested enterprises ("FIEs"), the Provisional Regulations for Capital Contribution to FIEs in Form of Equity Interests (MOFCOM Decree [2012] No.8, "Decree 8"), which were finally promulgated on 21 Sep 2012 and effective from 22 Oct 2012. We will also provide the key changes in Decree 8 as compared to the draft Measures released on 4 May 2011 and share our observations. http://pwc.to/V46msm Wed, 28 Nov 2012 19:31:00 +0800 http://pwc.to/Ys8mB9 On 14 Nov 2012, the US Department of the Treasury (Treasury) published the second model intergovernmental agreement (IGA) (Model 2) for implementing the broad-ranging provisions of the Foreign Account Tax Compliance Act (FATCA), which was enacted in 2010 with the goal of diminishing tax evasion by US taxpayers. The US recently executed bilateral IGAs with Denmark and the United Kingdom, both of which are based substantially on the provisions of Model 1. In addition, Treasury recently announced that it is negotiating with more than 50 countries to finalise agreements to facilitate FATCA compliance. According to Treasury, it hopes to conclude negotiations with a number of major US trading partners by the end of 2012. Get the highlight of provisions of Model 2. http://pwc.to/Ys8mB9 Wed, 28 Nov 2012 19:31:00 +0800 http://pwc.to/V72S8O Get the financial results and operating performance of the Top 10 Listed Banks in the 3rd quarter of 2012. As at the end of Sep 2012, total assets and profits of the Top 10 Listed Banks account for 78% of China’s commercial banking sector. Domestic banking industry is experiencing the pressure from China’s complex and constantly changing macro environment this year. The Top 10 Listed Banks achieved a net profit of RMB764.79 billion in the first three quarters and a year-on-year increase of 16.42%, relatively stable compared with the growth rate of 16.91% during the first half of this year. While net profits growth of the five largest commercial banks remain stable, five joint-stock commercial banks saw have a further slow down in growth rate. Credit assets quality continued to be the market concerns since the first half of the year. http://pwc.to/V72S8O Wed, 28 Nov 2012 19:31:00 +0800 http://pwc.to/R0hjPX Our results show that family businesses are positive about the future and the majorities are looking to grow the business in the next 5 years. http://pwc.to/R0hjPX Wed, 21 Nov 2012 19:31:00 +0800 http://pwc.to/Ug7ywb Get our insights of the tax issues surrounding investments of insurance companies across Asia Pacific including Australia, China, Hong Kong, India, Indonesia, Japan, Korea, New Zealand, Singapore and Taiwan. http://pwc.to/Ug7ywb Wed, 21 Nov 2012 19:31:00 +0800 http://pwc.to/pj1oqq A comprehensive practical guide to IFRS providing straightforward explanations on how to prepare financial statements in accordance with IFRS, with hundreds of practical examples. The latest five volumes focus on (Vol. 6) intangible assets and Inventories; (Vol. 7) property, plant and equipment, investment property and lease accounting; (Vol. 8) impairment of assets; (Vol. 9) consolidated and separate financial statements, and equity accounting; and (Vol. 10) disposals of subsidiaries, business and non-current assets. http://pwc.to/pj1oqq Wed, 21 Nov 2012 19:31:00 +0800 http://pwc.to/Td8P44 Get the latest developments from IASB/FASB's revenue redeliberations and a quiz about deferred tax under IFRS. http://pwc.to/Td8P44 Wed, 21 Nov 2012 19:31:00 +0800 http://pwc.to/QvYCE2 Get the highlights of Circular Caishui [2012] No.85 ("Circular 85") providing different Individual Income Tax ("IIT") treatments on dividends received by individual (natural person) investors from companies listed in the Shanghai and Shenzhen Stock Exchanges, as well as our observations on the impacts to the different stakeholders. This Circular was jointly issued by the Ministry of Finance, State Administration of Taxation and China Securities Regulatory Commission on 16 Nov 2012, and it is effective from 1 Jan 2013. http://pwc.to/QvYCE2 Wed, 21 Nov 2012 19:31:00 +0800 http://pwc.to/XDGVVU The 18th National Congress of the Communist Party of China marks a significant milestone: the successful election of the fifth generation of leaders who will determine China’s future direction for the next 10 years. This will have significant implications for the global community. Get our commentary highlighting China's new leadership, their policy platform, the rationale behind these policies, and the implications for multinational companies doing business in China. http://pwc.to/XDGVVU Wed, 21 Nov 2012 19:31:00 +0800 http://pwc.to/T4e4Gk China has concluded its second bilateral advance pricing arrangement ("BAPA") with the US for Microsoft, one of the largest and leading high technology companies in the world. The BAPA was officially signed by China State Administration of Taxation and US Internal Revenue Service on 15 Oct 2012, and the implementation agreement was concluded by Microsoft and the Chinese tax authorities in Beijing on 2 Nov 2012. http://pwc.to/T4e4Gk Wed, 14 Nov 2012 19:31:00 +0800 http://pwc.to/TKQjkA Get the 2012 version of the illustrative IFRS/HKFRS consolidated financial statements for a fictitious listed manufacturing group incorporated in Hong Kong. The illustrative example is prepared in accordance with the requirements as set out in the Hong Kong Companies Ordinance; the Listing Rules issued by the Stock Exchange of Hong Kong Limited; IFRSs issued by the International Accounting Standards Board; and HKFRSs issued by the Hong Kong Institute of Certified Public Accountants. http://pwc.to/TKQjkA Wed, 14 Nov 2012 19:31:00 +0800 http://pwc.to/PFJbHH Get the major changes and our observations of Circular Caiyu [2012] No.40 ("Circular 40") jointly issued by the Ministry of Finance, the State Administration of Taxation and the People's Bank of China. Circular 40 is entitled 《Administration Measures for the Allocation and Budget Management of Corporate Income Tax ("CIT") for Enterprises with Headquarters and Branches across Provinces》. It introduces a few changes that will affect the computation of the CIT amount to be allocated among the branches (during both provisional and annual filing) and the CIT settlement mechanism (during annual filing). Circular 40 will take effect from 1 January 2013 to replace Caiyu [2008] No.10. All enterprises with headquarters and branches across provinces will be affected by Circular 40. Management need to be aware of the impacts and adjust the internal compliance process where necessary. http://pwc.to/PFJbHH Wed, 7 Nov 2012 19:31:00 +0800 http://pwc.to/QqdALh On 24 Oct, the Internal Revenue Service ("IRS") released Announcement 2012-42 ("the Announcement") relating to the implementation of various provisions under the Foreign Account Tax Compliance Act ("FATCA"). FATCA was enacted to prevent and detect offshore tax evasion by US taxpayers. The FATCA regime imposes substantial new due diligence requirements on foreign financial institutions ("FFIs") related to holders of financial accounts, and requires reporting and withholding in certain circumstances. The Announcement aligns effective dates described in the Proposed Regulations for client on-boarding and pre-existing accounts review to the Model IGA dates, delays the withholding on gross proceeds, pushes back the earliest effective date of FFI agreements, and modifies certain concepts around grandfathered obligations. Get the key highlights. http://pwc.to/QqdALh Wed, 31 Oct 2012 19:31:00 +0800 http://pwc.to/Txaemz China State Administration of Taxation ("SAT") has announced its position on transfer pricing practices in China with the release of its paper, China Country Practices ("the paper"). The paper forms part of Chapter 10 on Country Practices in the United Nations' Practical Manual on Transfer Pricing for Developing Countries ("UN Transfer Pricing Manual"). It also marks a significant development as it represents the SAT's views and practices on a number of transfer pricing challenges faced by China, as a developing country, which are not addressed by the OECD Transfer Pricing Guidelines for Multinational Enterprises and Tax Administrations ("OECD Transfer Pricing Guidelines"). Get the key topics and our observations of this paper. http://pwc.to/Txaemz Wed, 31 Oct 2012 19:31:00 +0800 http://pwc.to/VGeDIn Get the developments in VAT/GST in Asia Pacific including China during the period Jul 2012 to Sep 2012. http://pwc.to/VGeDIn Thu, 25 Oct 2012 19:31:00 +0800 http://pwc.to/UmJl9C Get insights of ways to create a roadmap for action in shaping and executing talent strategies for China, in order to chart practices along this growth trajectory: becoming more efficient (optimizing), becoming more effective (growing), and innovating (leading), and useful suggestions in aligning the talent strategy to China's changing realities as well as the country's cultural norms. http://pwc.to/UmJl9C Wed, 17 Oct 2012 19:31:00 +0800 http://pwc.to/Tv8lES A framework for an asset manager to use when interpreting IFRS 10 'Consolidated financial statements' ("IFRS 10") to determine whether control exists − in particular, the assessment of principal versus agent. It also includes our analysis of the illustrative examples from IFRS 10, and other factors that we believe may be useful to consider in practice. http://pwc.to/Tv8lES Wed, 17 Oct 2012 19:31:00 +0800 http://pwc.to/UmE7dU Get the latest development of hedging proposals and some guidance on determining the classification of joint arrangement. http://pwc.to/UmE7dU Wed, 17 Oct 2012 19:31:00 +0800 http://pwc.to/SPozgc HM's Revenue and Customs (HMRC) subsequently released "Implementing the UK-US FATCA Agreement Consultation Document" (Consultation Document) which addresses the implementation of the US-UK IGA. FATCA is intended to combat offshore tax evasion by US persons who maintain accounts directly with financial institutions outside the US and requires financial institutions to report information on such account holders, as well as accounts maintained by non-US entities substantially owned by US persons to the US Internal Revenue Service. The Consultation Document sets forth how the UK government intends to legislate and promulgate new rules consistent with the commitment by both governments to significantly increase the scope of information automatically exchanged. It also seeks views and comments from industry and other stakeholders. You may want to analyse how these new guidelines will affect your FATCA compliance programs, notwithstanding that ambiguities remain. http://pwc.to/SPozgc Wed, 10 Oct 2012 16:57:00 +0800 http://pwc.to/RlbH17 The United States (US) Department of the Treasury and United Kingdom's (UK's) HM Treasury announced the signing of the first intergovernmental agreement (the US-UK IGA) under the Foreign Account Tax Compliance Act (FATCA) on 14 Sep 2012. As anticipated, the agreement specifically identifies the UK institutions and products that are seen as presenting a low risk of being used to evade US tax and, therefore will be effectively exempt from FATCA requirements. http://pwc.to/RlbH17 Wed, 10 Oct 2012 16:57:00 +0800 http://pwc.to/R2RhYI In light of the increasing demands from the investing community for environmental, social and governance ("ESG") information, The Stock Exchange of Hong Kong Limited has recently introduced a ESG reporting guide ("the Guide") as a recommended best practice to encourage listed issuers to disclose ESG information in their annual reports or in separate reports. The Guide will apply to listed issuers with financial years ending after 31 Dec 2012. Get our highlights of the Guide and recommended actions to listed issuers. http://pwc.to/R2RhYI Thu, 4 Oct 2012 16:57:00 +0800 http://pwc.to/SPnSU6 Explore a multi-faceted analysis of talent management in the transportation and logistics industry worldwide. This volume also contains strategies to help transportation and logistics companies improve their talent management. The findings of the study reveal that the global transportation and logistics industry is in urgent need of a radical transformation if it is to stay competitive and attract skilled people. Some of highlights include demographic changes pose a dramatic threat to the business models of many transportation and logistics companies; transportation and logistics companies are lagging behind other sectors in terms of recruiting and hiring. SMEs in particular are not regarded as the preferred employers of the future; the transportation and logistics industry will fall short of taking full advantage of the significant benefits that gender and cultural diversity can offer; and future job seekers still won't see transportation and logistics as a desirable industry. To stand out, transportation and logistics companies must proactively manage their company brand. http://pwc.to/SPnSU6 Thu, 27 Sep 2012 16:57:00 +0800 http://pwc.to/n9h5P5 A quick and easy access to information about the corporate and individual tax systems in over 150 countries worldwide, in an easily digestible format. New this year, a free ebook and online version of the summaries are available for download. http://pwc.to/n9h5P5 Thu, 27 Sep 2012 16:57:00 +0800 http://pwc.to/SUFZ6O Explore the implications for real estate companies, funds and joint ventures in connection with the proposed regulations related to the due diligence, withholding, reporting and certification obligations under Internal Revenue Code Sections 1471-1474 (commonly referred to as the Foreign Account Tax Compliance Act (FATCA)). This alert focuses on the classification of non-US entities under FATCA and the steps that non-US entities should be taking with respect to complying with this new regime which is in addition to and does not replace other US information reporting and withholding regimes. http://pwc.to/SUFZ6O Wed, 19 Sep 2012 16:57:00 +0800 http://pwc.to/SOSVLJ Get the latest development of proposed revenue standard, the IFRS/USGAAP convergence project including the final IFRS "Work Plan" released by SEC and FASB's recent decision on impairment model of financial asset. http://pwc.to/SOSVLJ Wed, 5 Sep 2012 19:31:00 +0800 http://pwc.to/NNPyaU The National People's Congress Standing Committee enacted the "Exit-Entry Administration Law" ("the New Law") on 30 Jun 2012, scheduled to be implemented on 1 Jul 2013. The New Law emphasises on stricter enforcement over foreign visitors/workers and imposes harsher penalties for being employed illegally. It also introduces a new visa category to attract foreign talents and provides an opportunity to apply for China's permanent residence status. Get the salient points of the New Law and our observations. http://pwc.to/NNPyaU Wed, 5 Sep 2012 19:31:00 +0800 http://pwc.to/PhFPZQ As the Platinum sponsor for the Summit, we conducted a survey of business executives on key business issues and trends. Find out the latest updates and subscribe to our survey report to be released at the Summit. http://pwc.to/PhFPZQ Wed, 15 Aug 2012 14:30:00 +0800 http://pwc.to/SJ973p Hear from our tax partners via a webcast where they will provide an overview of the draft guidelines regarding the implementation of the General Anti Avoidance Rule (GAAR) and its practical challenges for funds, as well as discuss the role of Singapore as an investment management hub and a domicile for funds, including those investing in India. http://pwc.to/SJ973p Wed, 15 Aug 2012 14:29:00 +0800 http://pwc.to/P128Cz Take a look at some of the practical questions on how to apply the contingent consideration principles in IFRS 3, "Business combinations", illustrating the challenges and reflecting the complexity that can arise. This publication provides practical insights and helps practitioners to bridge the gap between accounting principles and their application. http://pwc.to/P128Cz Wed, 8 Aug 2012 09:55:00 +0800 http://pwc.to/QgGcjC Get the salient points on Departmental Interpretation and Practice Notes No. 49 ("DIPN 49") issued by the Inland Revenue Department ("IRD") with further guidance on the new deduction regime and IRD's view on the taxation of royalty income derived from licensing of intellectual property rights. We will highlight some of the important interpretation and views set out by the IRD in DIPN 49 and discuss their implications for taxpayers. http://pwc.to/QgGcjC Wed, 8 Aug 2012 09:54:00 +0800 http://pwc.to/OUGBJN Get the key features of the Hong Kong / Mexico comprehensive double tax agreement ("CDTA"). We will also share our observations on some of its distinctive features and provide an update on the latest status of Hong Kong's treaty network. http://pwc.to/OUGBJN Wed, 8 Aug 2012 09:54:00 +0800 http://pwc.to/Oub4hd On 25 Jul 2012, the State Council has approved expanding the launch of the Business Tax to Value Added Tax Transformation Pilot Program ("Pilot Program") for the transportation industry and certain modern service industries to 10 other provinces and municipalities: Beijing, Tianjin, Jiangsu, Zhejiang, Anhui, Fujian, Hubei, Guangdong, Xiamen and Shenzhen in batches from 1 Aug through to the end of 2012. Get the potential impacts arising from the expansion of this Pilot Program and our observations. http://pwc.to/Oub4hd Wed, 1 Aug 2012 19:31:00 +0800 http://pwc.to/NdVIwh On 27 Jun 2012, the State Council officially released its approval, under a notice Guohan[2012] No.58, of the preferential policies and tax incentives granted to support the development of Qianhai Modern Services Industry Cooperation Zone ("Qianhai"). Get the major preferential policies and tax incentives for Qianhai and our observations for investment. http://pwc.to/NdVIwh Wed, 1 Aug 2012 19:31:00 +0800 http://pwc.to/MgsGeI Get the latest updates on the IASB/FASB's recent tentative decision on leasing, progress on financial instruments accounting, in particular, the approach to debt investments and the amendment to transition guidance for IFRS 10, 11 and 12. http://pwc.to/MgsGeI Mon, 30 Jul 2012 18:37:00 +0800 http://pwc.to/O0cbVN A new circular Caishui [2012] No.53 ("Circular 53"), "Supplementary Notice Regarding Certain Policies on the Pilot Program for the Transformation of Transportation and Certain Modern Service Industries from Business Tax to Value Added Tax" was publicised on 18 Jul 2012. It provides additional policies relating to this program in the Pilot Region (only Shanghai for the time being) for international transportation services, certain services of qualified animation enterprises, shipping agency services and operating lease services. Get the key points of Circular 53 and our observations as to how these services may be affected. http://pwc.to/O0cbVN Wed, 25 Jul 2012 14:45:00 +0800 http://pwc.to/PkEFfV On 29 Jun 2012, the State Administration of Taxation ("SAT") released the long-awaited supplementary notice to Circular Guoshuihan [2009] No.601, i.e., SAT Public Notice [2012] No.30 ("Public Notice 30") which took effect from the issuance date, to provide further clarification on how to assess the beneficial ownership status under the Sino-foreign Double Taxation Agreements. Get the salient points of the Public Notice 30 and our observations. http://pwc.to/PkEFfV Wed, 18 Jul 2012 17:09:00 +0800 http://pwc.to/roKey4 Get a comprehensive analysis of the key exogenous and bank specific drivers of the growth in the Chinese banking sector in first quarter of 2012 and an analysis of potential factors that will impact financial performance of Chinese banks in 2012. We also provide analyses of relevant financial ratios and performance indicators of the Top 10 Listed Banks, which are variously considered in two broad groups - the five largest commercial banks and the five largest joint-stock commercial banks. http://pwc.to/roKey4 Wed, 18 Jul 2012 10:34:00 +0800 http://pwc.to/P4d7I4 Get the strategic and emerging issues surrounding the expanding activities of foreign banks in China, and the diverse views and insights into this fast-changing financial services environment. This survey is based on interviews with CEOs, senior executives and branch managers of 41 foreign banks in China. Other highlights from the survey include foreign banks more than doubled profits in 2011 to RMB 16.73 billion, they also expect to grow revenues by 20% over the next 3 years; the regulatory environment is the no.1 challenge for foreign banks; interest rate liberalisation and RMB internationalisation are keys to Shanghai's ambition; and despite talent challenges, foreign banks expect to recruit 20,000 more people by 2015. http://pwc.to/P4d7I4 Wed, 18 Jul 2012 10:34:00 +0800 http://pwc.to/MCyzDZ Hear from our tax partners via a webcast where they discussed the important changes harmonizing transfer pricing regulations and customs law enabling taxpayers to request correlative adjustments between transfer prices and customs value, the new withholding tax procedures in Korea for claiming treaty benefits, and what impact they can have on taxpayers. They also provided insight on the potential opportunities and risks associated with these developments. http://pwc.to/MCyzDZ Tue, 17 Jul 2012 10:19:00 +0800 http://pwc.to/NpwhKj Get the salient points of the two policy papers for the launch of a pilot program for equity investment fund industry (including private equity funds), namely the "Pilot Measures to Encourage the Development of Equity Investment Fund Enterprises and Equity Investment Fund Management Enterprises in Zhuhai Hengqin New Area" and "Implementation Measures to Promote the Development of Equity Investment Fund Industry in Hengqin New Area" as well as our observations. http://pwc.to/NpwhKj Wed, 11 Jul 2012 18:27:00 +0800 http://pwc.to/NuZqEn Get the salient points of Caishui [2012] No.48 ("Circular 48"), announcing the extension for 5 more years of the relaxed tax deduction cap for advertising and business promotion expenses as per Caishui [2009] No.72 ("Circular 72"), with a few fine tuning changes and our observations. Circular 48 took retrospective effect from 1 Jan 2011. http://pwc.to/NuZqEn Wed, 11 Jul 2012 15:21:00 +0800 http://pwc.to/POqTmQ Get the key points of China's international taxation development highlighted by the State Administration of Taxation official in our tax symposium along with our observations. The key focus areas of the policies include anti-tax avoidance; non-resident tax administration; improvement of services and tax administration to Chinese enterprises "going (investment) abroad"; and international collaboration. http://pwc.to/POqTmQ Wed, 11 Jul 2012 15:21:00 +0800 http://pwc.to/LYRuuu Hear from our tax partners in Singapore, Malaysia and Indonesia via a webcast where they will provide their insights on key complexities from a tax perspective for inbound financing as well as recent case law developments. We will also discuss OCED's latest "Discussion Draft" on the issue of "Beneficial Ownership" and how this is increasingly raising awareness amongst tax authorities as well as tax issues relating to different instruments (e.g., convertible bonds, perpetual securities, hybrid instruments, etc) being used to fund the operations. http://pwc.to/LYRuuu Fri, 6 Jul 2012 13:51:00 +0800 http://pwc.to/x4KO1T Get the transfer pricing landscape in Asia Pacific, which has undergone dramatic changes recently, particularly within the financial services sector. Companies operating in the region are facing an overwhelming number of regulatory and tax reforms, all of which will have a significant impact on the way companies structure and manage their transfer pricing going forward. A striking example of this is the new focus on liquidity management and increased capital regulation under Basel III. Topics include the OECD's latest work on Article 5; some transfer pricing implications of industry and regulatory change; bank liquidity reserves: transfer pricing considerations; the re-write of the Australian TP legislation and impact on the FS industry; and country updates on Korea, India, China and Indonesia. http://pwc.to/x4KO1T Wed, 4 Jul 2012 20:15:00 +0800 http://pwc.to/LSHbsE Get our summary on the possible move in respect of the clarifications on Guoshuihan [2009] No.601 ("Circular 601") and Guoshuihan [2009] No.698 ("Circular 698") revealed by the State Administration of Taxation officials at a recent Hong Kong Inland Revenue Department seminar. Circular 601 deals with the assessment of beneficial ownership ("BO") for the claiming/granting of tax treaty benefits on dividend, interest and royalty while Circular 698 deals with the assessment of indirect equity transfer of Chinese companies based on China's general anti-avoidance rules ("GAAR"). http://pwc.to/LSHbsE Wed, 4 Jul 2012 19:19:00 +0800 http://pwc.to/PnYd5k A practical guide to the new IFRS standards and interpretations that come into effect for 2012 year ends. The IASB is working on a number of significant projects that are likely to affect 2015 year ends, but there are relatively few amendments to standards for 2012 and a number of small changes coming from the annual improvements process. Eight new and revised standards are not yet mandatory but can be early adopted. http://pwc.to/PnYd5k Wed, 4 Jul 2012 10:31:00 +0800 http://pwc.to/MXNSte Get our summary of the significant changes to the standards arising from IASB's 2009 to 2011 annual improvements project, and the exposure draft published by the IASB for the 2010-12 cycle of the annual improvements project. We also update you that the IFRS Interpretations Committee has published an exposure draft on the accounting for levies charged by public authorities that operate in a specific market, and a proposed interpretation on the accounting for a put option written by a parent entity. http://pwc.to/MXNSte Wed, 27 Jun 2012 10:21:00 +0800 http://pwc.to/LCuSkg The Court of Appeal ("COA") handed down its judgment in the Nice Cheer case on 19 Jun 2012. The COA dismissed the Commissioner's appeal and upheld the lower count's judgment that unrealised gains from fair market value revaluation of the taxpayer's trading securities recognised in the financial statements are not "profits" for Hong Kong profits tax purposes. Get a summary of the COA's judgment and our observations on the implications of the case for taxpayers. http://pwc.to/LCuSkg Wed, 27 Jun 2012 10:21:00 +0800 http://pwc.to/L0ufjh Hear from our China tax partners who are specialised in advising Chinese state-owned and private companies on their overseas acquisitions and investments. In this webcast, they analysed the common tax risks in outbound green-land investment, M&A and post-deal operations and shared experience in helping you to manage the tax risks. This webcast is conducted in Putonghua. http://pwc.to/L0ufjh Wed, 27 Jun 2012 10:20:00 +0800 http://pwc.to/NzLCKg Get the salient points of Public Notice [2012] No.18 ("PN18") issued by the State Administration of Taxation dated 23 May 2012 as well as its interpretation of PN18 on its official website, clarifying the relevant corporate income tax ("CIT") treatments on equity incentive plans. We will also share our observations on the principle of claiming CIT deduction and the impact on income tax accounting. http://pwc.to/NzLCKg Wed, 13 Jun 2012 11:32:00 +0800 http://pwc.to/LCrrd3 This issue looks into the developments of General Anti-Avoidance Rule (GAAR) in the region and how these developments may impact both local and international investors. It also covers our usual round-up of fiscal policies introduced by governments in the region. One notable development this year is the introduction of a codified GAAR by the Indian government in its budget after the Supreme Court ruled against the government in the Vodafone case. http://pwc.to/LCrrd3 Mon, 11 Jun 2012 17:36:00 +0800 http://pwc.to/roKey4 Get a comprehensive analysis of the key exogenous and bank specific drivers of the growth in the Chinese banking sector in 2011 and an analysis of potential factors that will impact financial performance of Chinese banks in 2012. We also provide extensive analysis over relevant financial ratios and performance indicators of the Top 10 Listed Banks, which have, from time to time, been categorised and considered in context of two groups - the five largest commercial banks and the five largest joint-stock commercial banks. http://pwc.to/roKey4 Thu, 7 Jun 2012 13:58:00 +0800 http://pwc.to/Mi5Z9a Update on the recent development in case law that necessitates the Hong Kong Inland Revenue Department to clarify its position on the taxation of payments in lieu of notice and the implications arising from this change for employers and employees. http://pwc.to/Mi5Z9a Wed, 6 Jun 2012 16:19:00 +0800 http://pwc.to/MeAwbb In this edition, our network of M&A tax professionals offer valuable insights throughout the entire life cycle of the M&A process, from pre-deal negotiation, due diligence and tax structuring to post-deal integration. We have prepared a summary of 15 jurisdictions across the Asia Pacific region, highlighting key tax issues relevant to both purchasers and sellers in an M&A deal. http://pwc.to/MeAwbb Wed, 6 Jun 2012 11:13:00 +0800 http://pwc.to/LxdKJn Get the illustrative set of consolidated interim financial information for a fictitious listed manufacturing and retailing group incorporated in Hong Kong. It is prepared in accordance with the requirements as set out in the Hong Kong Companies Ordinance; the Listing Rules issued by the Stock Exchange of Hong Kong Limited; IFRSs issued by the International Accounting Standards Board; and HKFRSs issued by the Hong Kong Institute of Certified Public Accountants. This publication has been updated to incorporate the example of the disclosures for the adoption of IAS/HKAS 12 (amendment), "Deferred tax: Recovery of underlying assets" during the period and with additional appendices illustrating the effect of early adopting new accounting standards by setting out an example of disclosures under IFRS/HKFRS 9 "Financial instruments" (2010), IFRS/HKFRS 11 "Joint arrangements" and IFRS/HKFRS 13 "Fair value measurement". http://pwc.to/LxdKJn Fri, 1 Jun 2012 18:19:00 +0800 http://pwc.to/IViFC7 Hear from our Hong Kong, China and India transfer pricing speakers via a webcast where we will discuss the insights on key developments surrounding the Advance Pricing Agreement (APA) programs in the respective jurisdictions and the potential opportunities likely to be available to multinational enterprises to obtain greater certainty in their international tax affairs. We will share our perspectives on Hong Kong's APA programme launched on 29 Mar 2012 and the Indian APA programme which will be effective on 1 Jul 2012. We will also share our insights on the state of the APA programme in China based on our practical experience and recent statistics published in the SAT's 2010 APA report in Apr 2012. http://pwc.to/IViFC7 Wed, 30 May 2012 19:54:00 +0800 http://pwc.to/NilkcI Explore the ways global companies integrate more deeply in the region and the priorities Asia-Pacific business and government leaders believe are needed to sustain the region's growth. http://pwc.to/NilkcI Wed, 30 May 2012 11:29:00 +0800 http://pwc.to/KeOqMC An internal clarification issued by the Chinese National Development and Reform Commission ("NDRC") in relation to the nature of foreign-invested equity investment enterprises has received wide media coverage, which zoomed much attention to the prospect of private equity market in China for foreign investments. Get the salient points of the NDRC's clarification and our insights on the recent development of the upcoming Chinese-registered Partnership Taxation Rules. http://pwc.to/KeOqMC Wed, 30 May 2012 11:20:00 +0800 http://pwc.to/L0CvNr Get the IASB's latest exposure draft for the 2010-12 cycle of the annual improvements project, with amendments that would affect IFRS 2, IFRS 3, IFRS 8, IFRS 13, IAS 1, IAS 7, IAS 12, IAS 16, IAS 24 and IAS 36; and a quiz about identifying, classifying, recognising and measuring share-based payments. http://pwc.to/L0CvNr Tue, 29 May 2012 17:56:00 +0800 http://pwc.to/JYPy0o China levies a wide range of taxes including income taxes (corporate income tax and individual income tax), turnover taxes (value added tax, business tax and consumption tax), taxes on real estates (land appreciation tax, real estate tax, arable land occupation tax, and urban and township land-use tax) and other taxes such as deed tax, stamp duty, custom duties, motor vehicle acquisition tax, vehicle and vessel tax, resource tax, urban construction and maintenance tax, etc. Get an overview of these taxes, investment restrictions on foreign investors, tax treaties and foreign exchange administration in China. http://pwc.to/JYPy0o Mon, 28 May 2012 17:56:00 +0800 http://pwc.to/LMjDVU Despite the optimism surrounding future growth opportunities in Asia-Pacific, CEOs consistently cite talent as a critical pressure point. Several forces are significantly changing the workforce dynamic in the region: demographic shifts such as declining population growth, rising people costs, large-scale skills mismatch and a shortage of qualified employees. As the talent market in the region continues to evolve, particular challenges have arisen for companies in terms of attracting talent, retaining and rewarding employees, and people processes and systems. These challenges have resulted in many organisations being trapped in a talent spiral of ever increasing cost, which ultimately impacts bottom lines and shareholder value. http://pwc.to/LMjDVU Fri, 25 May 2012 11:29:00 +0800 http://pwc.to/KZ01c8 Get the salient points of Public Notice [2012] No.15 ("Notice 15") released by the State Administration of Taxation, aiming to clarify certain long-outstanding corporate income tax ("CIT") deduction issues and standardize the local implementations. Notice 15 is applicable to annual CIT filing for year 2011 and afterwards. The clarifications and treatments reflected in Notice 15 would have impact to the positions to be adopted in the 2011 annual CIT filings of some taxpayers. These companies should engage dialogues with their in-charge tax bureaus, if necessary, to solicit any chance to make adjustments to accurately reflect the latest treatments provided in Notice 15. http://pwc.to/KZ01c8 Wed, 23 May 2012 10:35:00 +0800 http://pwc.to/Li7cyf About two years ago, PwC, together with some business chambers and professional bodies, flagged the double taxation problems being faced by Hong Kong employees working in China in certain circumstances to both the Chinese State Administration of Taxation ("SAT") and Hong Kong Inland Revenue Department through different channels. Since then, these tax authorities have taken it very seriously with the common goal to resolve these problems through consultation. The SAT has finally issued the Public Notice [2012] No.16 dated 26 Apr 2012 to address these problems in favor of the Hong Kong (and Macao) tax residents. It takes effect from 1 Jun 2012 and applies to income obtained after the effective date. Employees and their employers should revisit their employment and work arrangements as well as their current China and Hong Kong tax filing positions. http://pwc.to/Li7cyf Wed, 23 May 2012 10:35:00 +0800 http://pwc.to/La5zY6 Analyse recent developments, challenges and opportunities in China's greentech markets. http://pwc.to/La5zY6 Tue, 15 May 2012 18:17:00 +0800 http://pwc.to/La5zY6 Get the salient points of the Public Notice [2012] No.12 ("Circular 12") issued by the State Administration of Taxation in Apr 2012 providing some important clarifications for the implementation of the corporate income tax ("CIT") preferential policies under Caishui [2011] No.58 and set out the relevant application and approval procedures. Circular 12 takes retrospective effect from 1 Jan 2011. The clarification once again indicates the Chinese government's determination to boost the economy in the western region during the State's 12th Five-year Plan. Taxpayers in the western region are encouraged to observe the clarification and lodge application with the in-charge tax authorities to assess their applicable CIT rate. Similarly, taxpayers who are planning to move west are also encouraged to plan and structure their investment. http://pwc.to/La5zY6 Tue, 15 May 2012 15:05:00 +0800 http://pwc.to/Jeyw1l Hear from our speakers via a webcast where we shared the latest human capital trends and challenges in Asia Pacific based on a report produced by Saratoga, PwC's human capital analytics arm with a dedicated regional centre in Singapore. We offered our perspectives on the key human capital issues raised, suggested how businesses might overcome them and highlighted the importance of combining a talent strategy with a mobility strategy, in response to the greater emphasis on cross-border deployment of human capital by companies in the region. http://pwc.to/Jeyw1l Tue, 15 May 2012 10:16:00 +0800 http://pwc.to/KJcODh Risks faced by corporates have dramatically increased in recent years with a mixture of complex business environment and regulatory changes. In particular, large scale expansions into new and unfamiliar markets and products, financial volatility, rapid technological advances as well as frequent accounting standard changes have created unprecedented emerging risks for many organisations. Regulators now expect companies to put in place risk management infrastructure to cope with the increased scope and scale of current and planned business activities. How well do you understand your organisation's risk profile and how to stay ahead? http://pwc.to/KJcODh Tue, 8 May 2012 18:36:00 +0800 http://pwc.to/Kp7zKL With China's slowing economy, Beijing has adjusted its monetary policy by reducing the reserve requirements for Chinese banks twice since late last year to encourage lending. Whilst this may help improve liquidity, more loans nearly always creates more opportunities for bad loans. China's non-performing loan (NPL) levels have not significantly increased yet, but with predictions suggesting that these level are set to increase, it is essential that Chinese banks attempt to optimise recoveries from NPLs. We discuss the glaring differences between how NPLs are handled in Chinese banks and western banks, and how western banks are often able to recover more than their Chinese counterparts. We also share with you our knowledge and experience in helping to resolve Chinese NPLs. http://pwc.to/Kp7zKL Tue, 8 May 2012 18:36:00 +0800 http://pwc.to/Js3few China's long-term nursing and rehabilitation care for the elderly is more effectively and efficiently provided in senior housing with healthcare facilities than in tertiary care hospitals. Options are becoming available in a shift that is opening up opportunities for businesses that can deliver the right combination of real estate, healthcare and hospitality tailored for the needs of the Chinese pensioner. In this report, we investigated potential business approaches with illustration of current project example in China, discussed types of potential participants and business model options, some are specifically adopted by local private investors. http://pwc.to/Js3few Wed, 2 May 2012 19:00:00 +0800 http://pwc.to/LMaieW Get the high level summary of PwC's comment letter on the IASB and FASB’s second Exposure Draft on "Revenue from Contracts with Customers"; and our update on IASB has delayed projected timetable of some projects. http://pwc.to/LMaieW Wed, 2 May 2012 15:51:00 +0800 http://pwc.to/KpptvA Explore global automotive transactions and key trends within the global automotive sector, including a review of 2011 automotive deal activity among vehicle manufacturers, suppliers, retailers, vehicle financiers, and other related sectors; key trends that impacted the deal market; a look at the transaction activity by sector and region; and outlook for increased automotive deal activity in 2012 and beyond. http://pwc.to/KpptvA Wed, 2 May 2012 15:51:00 +0800 http://pwc.to/KJcAw3 China's regulatory bodies are diligently working to create an environment of quality in the application of accounting and internal controls over financial reporting. And with the speed and magnitude of the automotive industry growth in China, this is an important step forward for all companies involved. In fact, many Chinese companies are training their talent, upgrading systems and enhancing the governance structures to tackle these regulations. The challenge may appear daunting to the Chinese companies, where many MNCs have the experience and institutional expertise in these key areas to leverage. So, is this an opportunity to share and collaborate? Or will these changes test the relationships of the MNCs and Chinese partner? http://pwc.to/KJcAw3 Wed, 2 May 2012 15:51:00 +0800 http://pwc.to/LMapXS China's light vehicle sales growth slowed considerably in 2011 compared with 2009 and 2010. However, 2011 will prove to be more exception than rule, as the country's long-term demand potential remains strong. China's growth and total market potential pose a significant challenge for capacity planning and installation. Auto industry fragmentation has also created a dichotomy in terms of capacity utilisation. Mainstream Chinese automakers and their foreign JV partners are struggling to meet demand, while many smaller domestics are currently saddled with excess capacity. http://pwc.to/LMapXS Wed, 2 May 2012 15:51:00 +0800 http://pwc.to/JCRUEH Look at the key findings in the automotive sector, based on interviews with 104 automotive CEOs in 31 countries, as well as in-depth interviews with CEOs from companies across the automotive value chain, predominantly suppliers, as well as automotive retail companies. http://pwc.to/JCRUEH Wed, 2 May 2012 15:51:00 +0800 http://pwc.to/ITJVCf Explore how social, technological, economic, environmental and political factors are impacting insurers across the personal, commercial and life, annuity and retirement sectors. This report also assesses how these forces are influencing insurance business models across developed and emerging markets. http://pwc.to/ITJVCf Mon, 30 Apr 2012 15:22:00 +0800 http://pwc.to/HK5vuw Hear from our Japan tax partners via a webcast where we will discuss a variety of topics including an update on the state of the Japanese economy, recent legislative changes and recent audit activity. In particular, we will focus on the reductions in corporate rates; new "base broadeners" especially the new limitations on the use of net operating loss ("NOL") carryforwards; new "earnings stripping" rules which can limit interest deductions; recent audit activity including focus on finding permanent establishments and the use of treaty information exchange mechanisms during audits; new NOL rules; and treaty update. http://pwc.to/HK5vuw Fri, 27 Apr 2012 17:01:00 +0800 http://pwc.to/HEckMi Hear from our partners via a webcast where we will discuss the tightened foreign exchange registration requirements from the State Administration of Foreign Exchange ("SAFE") and impacts to those MNCs that have implemented various types of equity incentive plans in China. We will address the different requirements for the first tier cities versus other cities; and practical issues and recommendations in employee communication, individual income tax withholding / payment and other ongoing post SAFE registration administration. http://pwc.to/HEckMi Wed, 25 Apr 2012 15:15:00 +0800 http://pwc.to/KpoM5l An overview of the initial public offerings ("IPO") and listing activities on Greater China's principal stock markets, including Hong Kong, Shanghai, Shenzhen and Taiwan. The analysis covers companies which were listed on these markets from 1 Jan to 31 Dec 2011. http://pwc.to/KpoM5l Wed, 25 Apr 2012 11:15:00 +0800 http://pwc.to/JzcVRG We reviewed 46 leading global and regional airlines to see how the industry stacks up on corporate sustainability reporting. The results were encouraging. Key findings include more airlines are reporting on corporate sustainability; excellent corporate sustainability reporting is integrated, relevant and verified; the time has come for sector wide standards; a closer look at corporate sustainability reporting indicators; and the future of airline corporate sustainability reporting. http://pwc.to/JzcVRG Tue, 24 Apr 2012 09:54:00 +0800 http://pwc.to/Js342M Look at certain key performance indicators of more than 150 shipping companies from around the world. Financial data has been derived from financial statements from 2004 up to and including 2010. Our analysis covers both quantitative and qualitative information and gives insight into the recent challenges and drivers of the industry. http://pwc.to/Js342M Tue, 24 Apr 2012 09:54:00 +0800 http://pwc.to/JVGGKb The Court of Appeal ("COA") handed down its judgment in the Li & Fung case on 19 Mar 2012. The COA dismissed the Commissioner's appeal and upheld the lower court's judgment that the commission income derived by the taxpayer from sourcing goods from overseas suppliers on behalf of its customers was offshore and not subject to Hong Kong profits tax. Get a summary of the COA's judgment and look at the implications thereon. http://pwc.to/JVGGKb Mon, 23 Apr 2012 18:03:00 +0800 http://pwc.to/HMIvZx Get the salient points of the State Administration of Taxation Public Notice [2012] No.13 ("Circular 13"), entitled "Provisional Measures of Applying the Exempt, Credit and Refund ("ECR") Method to Zero-rated Value Added Tax ("VAT") Services in Their Transformation from Business Tax to VAT under the Pilot Program". Circular 13, is effective retrospectively from 1 January 2012 which provides the detailed implementation rules for the VAT treatment in relation to the export of zero-rated Pilot Services under the Pilot Program in Shanghai. Although Circular 13 provides clarifications on how to calculate and apply the export VAT ECR method and the relevant compliance requirements, it is still a new concept for Pilot Enterprises. Therefore, good documentation is critical to substantiate the genuine nature of the export of the zero-rated Pilot Services. http://pwc.to/HMIvZx Thu, 19 Apr 2012 22:49:00 +0800 http://pwc.to/JdjAUk In the three years since the credit crisis, the Asian hedge fund industry has come under pressure from investors to build trust by improving corporate governance, strengthening operations and providing more transparency into the controls in place. We believe, however, that there is room for further improvements related to conflicts of interest and operational controls to allow the sector to truly fulfil its long-term growth potential. As allocations to Asian managed hedge funds increase, trust and transparency will now be crucial factors in winning investors" favour for allocations of assets. http://pwc.to/JdjAUk Thu, 19 Apr 2012 16:58:00 +0800 http://pwc.to/Jeyw1l Hear from our speakers via a webcast where we will share the latest human capital trends and challenges in Asia Pacific based on a report produced by Saratoga, PwC's human capital analytics arm with a dedicated regional centre in Singapore. We will offer our perspectives on the key human capital issues raised, suggest how businesses might overcome them and highlight the importance of combining a talent strategy with a mobility strategy, in response to the greater emphasis on cross-border deployment of human capital by companies in the region. http://pwc.to/Jeyw1l Wed, 18 Apr 2012 11:44:00 +0800 http://pwc.to/HDmEVh Get the salient points of the Working Guidelines on Replying to Specific Tax Matters (Trial) (Guoshuifa [2012] No.14) ("the Guidelines") which set out a set of procedures prescribing how the Chinese tax authorities should provide replies on specific tax matters. We also discuss the impact of the guidelines on taxpayers and tax authorities. The release of the Guidelines is a breakthrough from a procedural perspective, despite the strict requirements in the Guidelines which would likely result in tedious documentation preparation and time-consuming application processes. Therefore, it is important for taxpayers to undertake detailed advance planning and be mindful of each and every step of the entire application process. http://pwc.to/HDmEVh Wed, 11 Apr 2012 16:39:00 +0800 http://pwc.to/I8VceR The governments of the US, France, Germany, Italy, Spain, and the UK are exploring a common approach to FATCA implementation through domestic reporting and reciprocal automation information exchange based on existing bilateral tax treaties. We don't anticipate that this bilateral approach will significantly reduce the burden of FATCA compliance for Foreign Financial Institutions ("FFIs"). Indeed, the bilateral approach may make compliance by FFIs more challenging. http://pwc.to/I8VceR Tue, 3 Apr 2012 16:57:00 +0800 http://pwc.to/HQsjpX Get the developments of (i) the IASB and FASB's (the boards) leasing redeliberations in Feb and (ii) the boards' upcoming new proposal on bad debt provisions for banks. We also provide a quiz about how to classify financial instruments from the perspective of the issuer. http://pwc.to/HQsjpX Mon, 2 Apr 2012 17:35:00 +0800 http://pwc.to/Hh96Qr Internal Revenue Code Section 6038D mandates that certain individuals must report specified foreign financial assets (SFFAs) if their interests in SFFAs exceed various thresholds. If reporting is required, the taxpayer must disclose their SFFAs on Form 8938 (Statement of Specified Foreign Financial Assets) filed with their US federal income tax return. Recently, the Internal Revenue Service issued basic questions and answers on Form 8938 (Q&As) on their website. Although this guidance does not appear to provide novel interpretations, the Q&As provide welcome confirmation regarding certain reporting scenarios. http://pwc.to/Hh96Qr Mon, 2 Apr 2012 14:31:00 +0800 http://pwc.to/HmwnMu On 29 Mar 2012, the Hong Kong Inland Revenue Department formalised the APA programme in Hong Kong by issuing Departmental Interpretation and Practice Notes No.48 - Advance Pricing Arrangement ("DIPN 48"). Get a high-level outline of the APA programme and our observations on some of the aspects mentioned in DIPN 48. The launch of the APA programme marks a special milestone for transfer pricing in Hong Kong, allowing taxpayers the opportunity to manage their international tax affairs with greater certainty and reduce the risk of double taxation. Considering the expanding DTA network of Hong Kong and increased scrutiny by many of Hong Kong treaty partners, taxpayers should review their transfer pricing positions and evaluate their options with respect to the new APA regime in Hong Kong. http://pwc.to/HmwnMu Thu, 29 Mar 2012 17:19:00 +0800 http://pwc.to/HwgHab Explores the policy focus in Premier Wen's final address delivered at the annual session of the Congress and what it means for China's businesses, people, environmental future and investors. http://pwc.to/HwgHab Tue, 27 Mar 2012 14:56:00 +0800 http://pwc.to/H5sR8P Get the salient points of a new set of guidelines (Circular Huifa [2012] No.7, "Circular 7") issued by the State Administration of Foreign Exchange ("SAFE") in Feb 2012 as further steps to tighten the foreign exchange registration requirements, and our observations and suggestions. It is highly recommended that the multi-national companies should review their current SAFE registration status to make sure all types of equity incentive plans are properly registered according to Circular 7. http://pwc.to/H5sR8P Tue, 27 Mar 2012 8:08:00 +0800 http://pwc.to/HnrS5U The survey looks at the habits and preferences of online shoppers from eight different markets, including the US, Mainland China, Hong Kong, Germany, France, the UK, Switzerland, and the Netherlands. Over 905 online shoppers were surveyed across 27 cities in Mainland China. Highlights include Mainland Chinese consumers shop online nearly four times as often as their Western European counterparts and nearly twice as often as online shoppers in the US and the UK; Chinese online shoppers use social media far more than those in other countries, meaning that social media will have relatively bigger impact on their purchasing decisions, and more. http://pwc.to/HnrS5U Tue, 27 Mar 2012 8:08:00 +0800 http://pwc.to/GLrlg5 Get our recap on the accounting treatment of share-based payments; the previous and revised positions adopted by the Inland Revenue Department ("IRD") on the tax deduction of share-based payments; and our observations on the implications of the change in the IRD's stance on recharge deduction for taxpayers. http://pwc.to/GLrlg5 Wed, 21 Mar 2012 9:03:00 +0800 http://pwc.to/GJH7su The conclusion of the first Advance Pricing Arrangement ("APA") for a Chinese company represents a key milestone for the development of China's transfer pricing regime. The case involved a multinational Chinese company headquartered in Jiangsu Province, and covered a transaction between the Chinese company and a related party distribution company located in Europe. Chinese taxpayers should place special attention to substance and the alignment of transfer pricing with the actual value chain, especially during cross-border restructuring and taxation planning. http://pwc.to/GJH7su Tue, 20 Mar 2012 16:04:00 +0800 http://pwc.to/GSb7P2 We surveyed approximately 3,000 banking customers across three separate segments from 9 global markets (including Hong Kong and China) to understand customers' needs, attitudes and behaviours to digital media. Our insights from this research can help banks harness the power of the new and improved digital market, not just by saving costs, but by deepening customer relationships to drive revenue growth. The new digital tipping point explores these insights and the opportunities that exist for banks. http://pwc.to/GSb7P2 Tue, 20 Mar 2012 11:47:00 +0800 http://pwc.to/xc5qlX Hear from our partners via a webcast where we discussed how to realise operational and subsequent tax benefits expected from a new business model. In particular, how business structures and transaction flows are just the start of a change process and, through case studies, discuss and demonstrate the need to consider and plan for the related operational changes and subsequent sustainability with equal rigour. http://pwc.to/xc5qlX Mon, 19 Mar 2012 17:16:00 +0800 http://pwc.to/HaSf2b Views and insights from 160 top management executives in China and Hong Kong. This report also seeks to inform and engage the business community about the key concerns and goals of CEOs in this part of the world. http://pwc.to/HaSf2b Fri, 15 Mar 2012 16:47:00 +0800 http://pwc.to/wbcLFq Hear from our partners via a webcast where we will discuss the interactions between transfer pricing and customs valuation; methods of testing and supporting intercompany prices for customs valuation acceptability; how to deal with transfer pricing adjustments and manage other payments, such as license fees, royalties or cost sharing arrangements; real life examples and better practice in Asia. http://pwc.to/wbcLFq Fri, 9 Mar 2012 14:05:00 +0800 http://pwc.to/yknzcs The Hong Kong Inland Revenue Department concluded the first transfer pricing related advance ruling case in mid-Feb 2012. This advance ruling marks a milestone development for transfer pricing in Hong Kong. It also specifies the transfer pricing principles and calculation methods for the covered transactions in future years, and thus could effectively be regarded as equivalent to a unilateral advance pricing arrangement. http://pwc.to/yknzcs Tue, 6 Mar 2012 18:12:00 +0800 http://pwc.to/ybPKJy Get the overview of tax collection figures from non-tax resident enterprises ("Non-TREs") in 2011 and our observations on the driving forces behind these figures and their implications for Non-TRE investors. http://pwc.to/ybPKJy Tue, 6 Mar 2012 18:12:00 +0800 http://pwc.to/wm10BV Exchange traded funds ("ETFs") are one of the fastest growing segments of the asset management industry and ETFs in Asia have evolved over the past years and experienced double digit growth year after year since 2008. Within Asia, Hong Kong is the second largest market in terms of turnover and market capitalisation. This report provides an introduction to the world of ETFs in Hong Kong and has been designed to assist you with your strategic ETF expansion into Hong Kong. http://pwc.to/wm10BV Thu, 1 Mar 2012 15:46:00 +0800 http://pwc.to/x4KO1T Around the world tax authorities and transfer pricing professionals are increasingly focusing on the transfer pricing issues arising from intra-group loans, guarantees and cash pools. Our financial services transfer pricing specialists produced a special edition of its FSTP Perspectives publication discussing many of the transfer pricing issues arising from related party financing transactions. Topics include intercompany debt - US audit environment and considerations; the Netherlands: Landmark court case on the treatment of inter-company loans; transfer pricing complexities related to cash pooling arrangements; a framework for evaluating related-party guarantees; intra-group loans: Are loan terms and conditions important; intra-group financial transactions documentation and risk. http://pwc.to/x4KO1T Wed, 29 Feb 2012 12:15:00 +0800 http://pwc.to/xG4a5f Get our year-end reminders which (1) gives consideration to the impact of the current economic climate on 2011 financial statements, (2) summarises new accounting standards and hot topics, and (3) updates some disclosure considerations that may impact year-end financial reporting. We also provide a list of our recent IFRS publications in this update for your reference. http://pwc.to/xG4a5f Tue, 28 Feb 2012 15:21:00 +0800 http://pwc.to/w3rQ3O On 15 Sep 2011 rogue trading hit the headlines again when UBS announced that it had discovered unauthorised trading in its Investment Bank. The trader in question has been charged by UK authorities with fraud and the resulting losses amounted to $2.3bn. Such unauthorised trading incidents result in significant corporate losses and destroy shareholder value. The risk is not restricted to proprietary books of investment banks. It also exists in investment portfolios of insurance companies, third party funds managed by funds managers and discretionary accounts of private bankers (for example). What are the typical warning signs, and how do human factors play a part in unauthorised trading? What questions should management be asking themselves? http://pwc.to/w3rQ3O Tue, 28 Feb 2012 15:21:00 +0800 http://pwc.to/wBvh0P Get the key principles and complex requirements of IFRS 10, "Consolidated financial statements", accompanied with practical examples and observations based on the experience of our global network of firms. Because of the importance of IFRS for many companies in China and the continued convergence of China Accounting Standards with IFRS, we have also translated this publication into Simplified Chinese to help Chinese practitioners bridge the gap between accounting principles and their applications. http://pwc.to/wBvh0P Mon, 27 Feb 2012 16:52:00 +0800 http://pwc.to/x1ouOE The proposed regulations providing guidance on the various provisions under the Foreign Account Tax Compliance Act ("FATCA"), which was enacted as part of the Hiring Incentives to Restore Employment Act of 2010, were issued on 8 Feb. Although these regulations are only proposed, they appear to provide sufficient guidance for insurers to determine what products are in scope, the process and system changes which will need to be made, and enable insurers to develop a communication plan with customers and distribution networks in order to address the looming effective dates of these rules. http://pwc.to/x1ouOE Wed, 22 Feb 2012 12:21:00 +0800 http://pwc.to/zhoeiN According to the results of the survey, the majority of executives across industries and markets worldwide are confident in the effectiveness of their organization's information security practices. This group includes more than 9,600 CEOs, CFOs, CIOs, CISOs, CSOs and other executives responsible for their organization's IT and security investments in more than 138 countries. Yet all is not in order. Some evidence points to a "crisis in leadership" and dangerous deficits in strategy. Capabilities across security domains are degrading. And security-related third-party risks are on the rise. What does this mean for your business and what should you address now in order to prepare for the cyber threats ahead? http://pwc.to/zhoeiN Wed, 22 Feb 2012 9:29:00 +0800 http://pwc.to/y49cmA The proposed regulations providing guidance on the various provisions under the Foreign Account Tax Compliance Act ("FATCA"), which was enacted as part of the Hiring Incentives to Restore Employment Act of 2010, were issued on 8 Feb. Although these regulations are only proposed, they appear to provide sufficient guidance for fund managers to begin assessing what information gaps exist, determining what systems changes will need to be made, and communicating with their third-party service providers in order to address the looming effective dates of these rules. http://pwc.to/y49cmA Fri, 17 Feb 2012 17:41:00 +0800 http://pwc.to/ADjlDZ Data protection is no longer seen as an IT issue in isolation and the various data loss incidents have led to significant economic loss, impairment of the organisation's reputation as well as serious legal lawsuits. Find out how to enable your organisations to discover and classify your sensitive data, evaluate various DLP vendors' solutions, ensure the most adequate solution deployment, educate business users and report/handle pre-determined data security incidents on a real time basis, through both detective and preventive approaches. http://pwc.to/ADjlDZ Wed, 15 Feb 2012 10:42:00 +0800 http://pwc.to/zgTP0O e-Commerce systems are based upon the use of the Internet, which provides open and easy communications on a global basis. However, because the Internet is unregulated, unmanaged and uncontrolled, it poses a wide range of risks and threats to the business community. Do you know the threats from hackers and the risks to business and can you manage the consequences? http://pwc.to/zgTP0O Wed, 15 Feb 2012 10:42:00 +0800 http://pwc.to/ycMlZr This summary is based on interviews with 125 asset management CEOs in 14 countries. With financial markets in crisis once again, asset management CEOs are concentrating on finding growth in an economy where this is not easy. They are exploring how to do so in both the developed markets and fast-growing Asian region. But they are executing growth plans cautiously, keeping costs down, concentrating on execution and closely monitoring risk. http://pwc.to/ycMlZr Wed, 15 Feb 2012 10:42:00 +0800 http://pwc.to/zhCah2 The IASB and the FASB are continuing their deliberations around the development of a new loan loss impairment standard. While committed to the 'Three-Bucket Approach', the Boards are refining the principles and engaging with constituents to address a number of theoretical and operational issues. This paper analyses several of the issues involved and provides insights into the response we are observing among our banking clients. http://pwc.to/zhCah2 Tue, 14 Feb 2012 14:35:00 +0800 http://pwc.to/wlfp4Z Explore our methodology for architecting and building a practical and flexible approach to FATCA compliance. It offers strategic insights on the implications of the changing information reporting requirements under FATCA and takes a deeper dive into some of the people, process and technology considerations to develop a FATCA compliance blueprint, both from an assessment and implementation perspective. The process has been applied to help a number of financial institutions to address FATCA issues. http://pwc.to/wlfp4Z Fri, 10 Feb 2012 19:20:00 +0800 http://pwc.to/xCJYZo On 1 Feb 2012, the Hong Kong Financial Secretary delivered the final budget announcement of the current Administration. As far as Hong Kong salaries tax is concerned, no change in the standard tax rate, marginal tax rates and marginal tax bands has been proposed. However, numerous changes to the personal allowances and concessionary deductions for salaries tax have been proposed to help ease the pressure of inflation and uncertain economic outlook on the community. In addition, a basket of one-off relief measures similar to those mentioned in the last year have been proposed to help safeguard the people's livelihood. http://pwc.to/xCJYZo Fri, 10 Feb 2012 16:01:00 +0800 http://pwc.to/AD02VT The Department of Treasury and Internal Revenue Service issued the long awaited proposed regulations on 8 Feb 2012 providing guidance for foreign financial institutions, non-financial foreign entities, and U.S. withholding agents to implement various provisions under the FATCA of 2009, which was enacted as Section 501 in the Hiring Incentives to Restore Employment Act of 2010. The proposed regulations describe detailed procedures for implementing the FATCA withholding tax and information reporting regime, and are expected to significantly affect the business practices, policies and procedures, and systems for a wide variety of financial institutions and other taxpayers in Asia. http://pwc.to/AD02VT Fri, 10 Feb 2012 11:25:00 +0800 http://pwc.to/xeiUsV The State Administration of Taxation ("SAT") has issued two notices on the indirect tax treatments for assets restructuring transactions: (1) Notice Regarding Value Added Tax ("VAT") Treatments for Assets Restructuring (the SAT Notice [2011] No.13) took effect from 1 Mar 2011; (2) Notice Regarding Business Tax ("BT") Treatments for Assets Restructuring (the SAT Notice [2011] No.51) took effect from 1 Oct 2011. These two notices collectively clarify that assets restructuring transactions such as merger, spin-off, sale or swap of assets, etc. involving the transfer of all or part of certain qualified assets (collectively covering tangible goods, immovable property and land use rights) of an enterprise to another enterprise together with their associated creditors' rights, liabilities and labour force shall not be subject to VAT and BT respectively. Get the salient points of these two notices as well as our insights and observations. http://pwc.to/xeiUsV Wed, 8 Feb 2012 12:26:00 +0800 http://pwc.to/wHIx9u Highlight the Indian Supreme Court's key judgments / observations on the Vodafone case, compare the similarities and disparities with China's tax rules on overseas indirect equity transfer ("indirect transfer") stipulated in tax circular No.698 issued by the State Administration of Taxation ("SAT") in Dec 2009, and more importantly, analyse the potential influence of the Vodafone case on the SAT's position on indirect transfers. http://pwc.to/wHIx9u Wed, 8 Feb 2012 11:25:00 +0800 http://pwc.to/xoPuPn Get the most updated environment and challenges faced by multinational retail and consumer ("R&C") companies on importing apparel, footwear and fashion accessories into China. R&C sector continues to face tariff and non-tariff challenges from China Customs, Commodity Inspection & Quarantine and other government agencies, with a focus on controlling landed costs in China; attaining operational excellence; overcoming market access and barriers; and internal responsibility. http://pwc.to/xoPuPn Tue, 7 Feb 2012 17:03:00 +0800 http://pwc.to/xi6nZW The internal revenue service ("IRS") recently announced that it is reopening the offshore voluntary disclosure initiative ("OVDI") for non-filers of US income tax returns and foreign bank account reports. The new OVDI has the same structure as the 2011 initiative (which ended on 9 Dec 2011) with certain key differences. There is no set deadline to this programme, but the IRS has stated that they may change the terms of the programme going forward at any time. Although this new programme may provide relief to some, each taxpayer should consider their specific situation and the options available, before making a decision about how best to become compliant regarding their previously unreported offshore accounts and income. http://pwc.to/xi6nZW Tue, 7 Feb 2012 17:02:00 +0800 http://pwc.to/xWM5CT With the globalisation of the economy and the resulting growth in intercontinental trade flows, the business value of the enabling port and logistics activities is becoming increasingly dependent on the strength of the total logistic chains in which they participate. Contemporary port value management aims at identifying value enhancing opportunities by reconsidering the position from a logistic chain perspective. This results in value centred investment, pricing and operating strategies. http://pwc.to/xWM5CT Mon, 6 Feb 2012 18:19:00 +0800 http://pwc.to/yV6lkX Get the development and changes in China's retail companies in the post-financial crisis era. We also analysed the new trend of China's retailers in terms of their profit and financing models. In view of the significance of mergers and acquisitions in China's retail industry and capital market on financing and expansion of retail enterprises, we also conducted a separate analysis of these issues. http://pwc.to/yV6lkX Mon, 6 Feb 2012 16:58:00 +0800 http://pwc.to/ACeYj3 Explore what risks bankers worldwide are facing in the current climate and how they prioritise them. Based on over 700 responses from 58 countries, the survey identifies high level issues where the banking industry may be vulnerable. http://pwc.to/ACeYj3 Fri, 3 Feb 2012 15:15:00 +0800 http://pwc.to/wnLXA3 The 2012/2013 Hong Kong Budget was presented to the Legislative Council by the Financial Secretary, Mr John Tsang, on 1 February 2012. Get our Budget commentary, highlights, tax facts and figures, and tax rates card as reference, available in both English and Traditional Chinese. http://pwc.to/wnLXA3 Wed, 2 Feb 2012 1:45:00 +0800 http://pwc.to/AcLeov Highlight the salient points of Circular Renshetingfa [2011] No. 113 ("Circular 113"), titled "Notice Clarifying Certain Issues Regarding the Participation in the Social Security Scheme by Foreign Employees Working in China" issued by the Ministry of the Human Resources and Social Security on 2 December 2011. Get our observations on this important and widely discussed topic that affect many businesses and their foreign employees in China. http://pwc.to/AcLeov Fri, 27 Jan 2012 16:15:00 +0800 http://pwc.to/xJsCPr Get the most important principles and complex requirements of IFRS 13, accompanied with practical examples and observations based on the experience of our global network of firms. Given the continued convergence of China Accounting Standards and IFRS and extensive use of fair value for financial instruments, we have also shared our experience in the area of valuation for financial products that are commonly seen in China. Major topics include scope; measurement; considerations specific to non-financial assets: highest and best use, liabilities and equity, and financial instruments; valuation techniques; fair value hierarchy; inactive markets and non-orderly transactions; disclosures; effective date; potential business impacts; and practical examples for the valuation of financial instruments. http://pwc.to/xJsCPr Wed, 19 Jan 2012 12:23:00 +0800 http://pwc.to/y1wyvM Get the key messages and our observations of Circular Shangzihan [2011] No.1078 ("Circular 1078") jointly released by the Ministry of Commerce and the State Administration of Foreign Exchange on 12 Dec 2011. This Circular aims to clarify the new requirement on RMB reinvestments by Chinese holding companies set out in Circular Huizihan [2011] No.7 ("Circular 7") and address other administration issues. It has also provided clarifications which rectify the adverse impacts of Circular 7. http://pwc.to/y1wyvM Wed, 18 Jan 2012 14:32:00 +0800 http://pwc.to/zVaggn China continues to lead the world in semiconductor consumption with a compound annual growth rate of 24.8% since 2000, due to the transfer of worldwide electronic equipment production to China and the increased semiconductor content in products. This report combines statistics and executive interviews to analyse the semiconductor industry in China, including geographical and product category demand and shifts in the semiconductor value chain. http://pwc.to/zVaggn Wed, 18 Jan 2012 09:09:00 +0800 http://pwc.to/zlY4dp Get the IASB's amendment to IFRS 9 "Financial instruments" that delays the effective date to annual periods beginning on or after 1 Jan 2015, amendment to the application guidance in IAS 32 "Financial instruments: Presentation" that clarifies some of the requirements for offsetting financial assets and financial liabilities on the statement of financial position, and also amendments to transition guidance in IFRS 10 "Consolidated financial statements". http://pwc.to/zlY4dp Wed, 11 Jan 2012 12:09:00 +0800 http://pwc.to/y9qFnk Get the latest compliance, regulatory, M&A, pricing, and taxation updates in the pharma industry from Australia, China, Hong Kong, India, Japan, Korea, Singapore and Taiwan. http://pwc.to/y9qFnk Wed, 11 Jan 2012 10:06:00 +0800 http://pwc.to/xBxuIK Get the main trends dictating the need for a new approach to the manufacturing and distribution of medicines, together with some of the techniques and technologies that will help the industry make the necessary changes. We also look at the key characteristics of the 4 options for restructuring the pharmaceutical supply chain, and the implications they carry. http://pwc.to/xBxuIK Tue, 10 Jan 2012 17:42:00 +0800 http://pwc.to/yYiras The series of reform policies released by the Chinese Government and the active implementation and enforcement by local authorities since 2008, and in particular, the gradual closing down of toll manufacturing and the offering of the distinctive "same location Wholly Foreign Owned Enterprise (WFOE) conversion" regime to import processing manufacturers, have all led to the slowing down of processing trade. Get the highlights of the new processing trade regime and the impacts to processing trade in the Pearl River Delta. http://pwc.to/yYiras Tue, 10 Jan 2012 17:42:00 +0800 http://pwc.to/ybvzIR Highlight the salient points of Circular Caishui [2011] No.131 ("Circular 131"), jointly released by the Ministry of Finance and the State Administration of Taxation on 29 Dec 2011, clarifying the scope of exported pilot services which are zero-rated or exempted. We also share our observations on what this means for international transportation services and logistics auxiliary services, and export of other services. http://pwc.to/ybvzIR Fri, 6 Jan 2012 12:29:00 +0800 http://pwc.to/ABD1dD The Commissioner of Inland Revenue ("CIR") announced in a recent seminar organised by the Hong Kong Inland Revenue Department that an Advance Pricing Arrangement ("APA") program will be launched in Hong Kong in Apr 2012. Get the salient points mentioned by the CIR during the seminar in relation to the implementation of the APA program and our observations of this important development for transfer pricing in Hong Kong since the issuance of DIPN 46 in Dec 2009. http://pwc.to/ABD1dD Fri, 6 Jan 2012 11:14:00 +0800 http://pwc.to/vZ0ZTf Get the trends in both the casino and online gaming industries, with full five year historical and forecast revenue data by territory for bricks-and-mortar casinos, and an in-depth exploration of the prospects and challenges for the online gaming market across the world's regions including United States, EMEA, Asia Pacific, Latin America and Canada. http://pwc.to/vZ0ZTf Wed, 4 Jan 2012 10:16:00 +0800 http://pwc.to/tv64Je The long awaited RQFIIs Pilot Programme has been announced on 16 Dec 2011. An initial Renminbi 20 billion quota will be granted to eligible Hong Kong subsidiaries of Mainland Chinese asset management houses and securities brokers. Get the key requirements for a RQFII applicant and some of the potential tax implications in relation to investments in Mainland China via the RQFIIs Pilot Programme. http://pwc.to/tv64Je Thu, 29 Dec 2011 9:34:00 +0800 http://pwc.to/t7DVFE Recap the major tax developments that took place in 2011 including Hong Kong's treaty network, update on international tax issues, Hong Kong profits tax case law, legislations on two Hong Kong profits tax incentives enacted in 2011, and developments in salaries tax. http://pwc.to/t7DVFE Wed, 28 Dec 2011 18:49:00 +0800 http://pwc.to/tGrUFq The long awaited Customs Advance Valuation Rules are due to be released by the end of Dec 2011 and will take effect on 1 Jan 2012. Given the limited coverage of the advance ruling regulation, most MNCs are likely to still need to adopt the "traditional" information price registration practice with Commodity Price Information Office. Companies are recommended to review and discuss their transfer pricing for cross-border transactions with Customs prior to any change of their business model or pricing methodology, to obtain consensus with Customs, establish good relationships, and streamline the import clearance. http://pwc.to/tGrUFq Wed, 28 Dec 2011 17:07:00 +0800 http://pwc.to/voxAqA Consider three common questions in the application of IAS/HKAS 39 Financial Instruments: Recognition and Measurement and IFRS/HKFRS 7 Financial Instruments: Disclosures, and share our insight and experience in resolving these issues. Additionally, we outline five recent issues that have been referred to the IFRS Interpretations Committee for their guidance in the business combination and reorganisation arena. http://pwc.to/voxAqA Wed, 28 Dec 2011 16:05:00 +0800 http://pwc.to/tRXeWF Get the 2011 version of the illustrative IFRS/HKFRS consolidated financial statements for a fictitious listed manufacturing, wholesale and retail group incorporated in Hong Kong. The illustrative example is prepared in accordance with the requirements as set out in the Hong Kong Companies Ordinance; the Listing Rules issued by the Stock Exchange of Hong Kong Limited; IFRSs issued by the International Accounting Standards Board; and HKFRSs issued by the Hong Kong Institute of Certified Public Accountants. http://pwc.to/tRXeWF Wed, 28 Dec 2011 16:05:00 +0800 http://pwc.to/sqOR6G The explosion of mobile telecommunication networks and handheld devices has led to a race in developing applications as a new revenue or service delivery channel to increase customers' interaction and satisfaction. Too often, the rush to develop these applications has resulted in a development lifecycle that lacks a sufficient security focus, thereby making this newfound open access to consumers' sensitive information a prime target for criminals. Employees are also asking for access to real-time data including company financial data, so corporations are increasingly looking to mobile applications to increase productivity, employee satisfaction, and foster innovation in the organisation, but at the same time are opening themselves up to new information security challenges. http://pwc.to/sqOR6G Wed, 28 Dec 2011 16:05:00 +0800 http://pwc.to/uKCxLt The Shaanxi Provincial State Tax Bureau has concluded China's first thin capitalization audit case. Besides thin capitalization, the case also involves an investigation of tangible goods transactions and equity transfer. Given the increasing scrutiny and the conclusion of the first thin capitalization audit case, taxpayers are advised to closely monitor their financing arrangements in general and debt-to-equity ratios in particular, and to prepare proper documentation where the threshold ratios are exceeded in order to secure interest expense deductions, avoid the additional 5% penalty component of the interest levy, and mitigate transfer pricing adjustment risks. http://pwc.to/uKCxLt Tue, 20 Dec 2011 15:59:00 +0800 http://pwc.to/roKey4 A summary of the financial performance of the major Chinese banks in Q3 2011. It also includes analysis of key ratios, performance indicators, results and financial positions of the Top 10 Listed Chinese Banks based on their assets at 31 Dec 2010. http://pwc.to/roKey4 Mon, 19 Dec 2011 17:40:00 +0800 http://pwc.to/vYMSBU Explore the key drivers of change for the insurance industry and implications for your insurance business. Our extensive research reviews the sweeping changes across social, technological, environmental, economic and political perspectives, providing the knowledge to evaluate scenarios of maximum relevance to your business. http://pwc.to/vYMSBU Wed, 14 Dec 2011 09:22:00 +0800 http://pwc.to/s4on1Z An outlook for six retail and consumer products sub-sectors in Asia - food and general retail, fashion and apparel, online retailing, fast-moving consumer goods, luxury brands, and durable consumer goods and electronics particularly in China, Hong Kong, India, Japan and Taiwan. It also looks at how the industry is faring in 2011 and is expected to grow through 2015, and opportunities and challenges in the years ahead. http://pwc.to/s4on1Z Tue, 13 Dec 2011 15:28:00 +0800 http://pwc.to/teE5rI Get the changing dynamics of capital markets and global IPO activity. The findings are based on a PwC survey conducted by the Economist Intelligence Unit in Aug 2011 of almost 400 senior executives from companies across the globe, supplemented with in depth interviews with other market advisers so as to understand their views on the factors that are shaping the development of equity capital markets. The report also examines the increasing competition from emerging market stock exchanges, the effect that is having on incumbent exchanges, and the priorities and concerns for companies looking to list. http://pwc.to/teE5rI Tue, 13 Dec 2011 14:50:00 +0800 http://pwc.to/ujpi0K Get the key provisions of the newly enacted legislation for tax deduction of the acquisition costs of copyrights, registered designs and registered trademarks (collective referred to as "specified IP rights"). We also share our observations on some of the potential limitations of the legislation in granting tax relief to Hong Kong taxpayers for their costs incurred on acquiring the specified intellectual property rights under certain circumstances. http://pwc.to/ujpi0K Tue, 13 Dec 2011 14:50:00 +0800 http://pwc.to/uudc1X A mid-year update of global mining deals in 2011, key findings including global mining M&A deal volumes and values rally during the first half of 2011; soaring deal valuations keep Chinese buyers close to home; the US overtakes Canada and Australia to become the mining sector’s most acquisitive nation (by deal value); and key steelmaking ingredients dominate M&A during 2011. http://pwc.to/uudc1X Tue, 13 Dec 2011 10:06:00 +0800 http://pwc.to/vZUSXh A comprehensive analysis of the financial performance and position of the global mining industry as represented by the Top 40 mining companies by market capitalisation. http://pwc.to/vZUSXh Tue, 13 Dec 2011 10:06:00 +0800 http://pwc.to/unE7ZM An outlook on the Asia Pacific real estate investment and development trends, real estate finance and capital markets, property sectors, metropolitan areas, and other real estate issues based on interviews and surveys from more than 360 of the most influential leaders in the industry. http://pwc.to/unE7ZM Thu, 8 Dec 2011 14:33:00 +0800 http://pwc.to/vkbMu8 Hear from our tax professionals on the overview of the transfer pricing rules in Indonesia, documentation requirements, reasonably full disclosure requirements in tax returns, and an active and challenging tax audit environment in respect of related party transactions; the Tax Office's approach to transfer pricing on tax audits; common areas of Tax Office scrutiny; what you can do to mitigate adjustments; and should you consider an Advanced Pricing Arrangement? http://pwc.to/vkbMu8 Wed, 7 Dec 2011 14:23:00 +0800 http://pwc.to/u56SYU When it comes to making an investment in the PRC, Hong Kong and BVI companies are typically involved, often as the immediate holding company of the PRC company that will hold the investment (this PRC company is usually a wholly foreign owned enterprise or WOFE). There are tax advantages of using a Hong Kong company to hold PRC assets but another reason is the relative rigour of the Hong Kong legislative structure which provides protection and remedies to investors and lenders in the event of default. However, investors and lenders should bear in mind that the recovery process could be faced with many obstacles. The appointment of Receivers and/or Liquidators at the Hong Kong or BVI company level as a means to force a settlement can lead to positive results. http://pwc.to/u56SYU Wed, 7 Dec 2011 11:05:00 +0800 http://pwc.to/u6R8Ts PwC, in cooperation with the Supply Chain Management Institute of the EBS Business School, conducted a RealTime Delphi survey of 80 panellists in 25 countries. This report draws upon the results of this survey, as well as incorporating a security risk profile that transportation & logistics companies can use to analyse the security of their operations. http://pwc.to/u6R8Ts Wed, 7 Dec 2011 11:05:00 +0800 http://pwc.to/v24Sh6 Get the strategic and emerging issues surrounding the expanding activities of foreign insurance companies in China based on survey responses from CEO and senior executives of 28 foreign insurers currently active in China. We also provide our observations on changes to China's insurance marketplace, key risks, the evolving regulatory environment, future opportunities and the state of competition. http://pwc.to/v24Sh6 Tue, 6 Dec 2011 17:32:00 +0800 http://pwc.to/slTV3K Hear from our partners via a webcast where we provided companies which have been affected directly and / or indirectly by the flood, some guidelines and key issues to ensure that they have considered all factors in their response and recovery phase. We also discussed and shared our experiences as well as some key issues learned from our communities, in particular, what are key accounting concerns from disruption; what are tax, legal and customs issues that you should be thinking about; and how can we all emerge stronger? http://pwc.to/slTV3K Mon, 5 Dec 2011 17:52:00 +0800 http://pwc.to/vPvaHm In the near future, RMB funds are expected to become increasingly prominent in the private equity and venture capital ("PEVC") market, as both Chinese and foreign PEVC institutions have shown significant interest in setting up RMB funds. This report covers the topics including establishment and structuring, fund raising, investment, exit, financial and investor reporting. http://pwc.to/vPvaHm Tue, 29 Nov 2011 17:27:00 +0800 http://pwc.to/v2lUB8 Get the findings of the Peer Review report published by the Global Forum on 26 October 2011 focusing on Hong Kong's legal and regulatory framework for transparency and exchange of information, and the recommendations for improvement made by the Global Forum and the response of the Hong Kong SAR Government. http://pwc.to/v2lUB8 Tue, 29 Nov 2011 15:41:00 +0800 http://pwc.to/tD6y13 Get the concept of permanent establishment ("PE") as defined in Article 5 of the Organisation for Economic Co-operation and Development ("OECD") Model Tax Convention, look at the changes proposed in the discussion draft on PE recently issued by the OECD and our observations on some of these changes. What are the implications to those Hong Kong companies with business activities / operations in a treaty jurisdiction or companies from a treaty jurisdiction that have established a presence in Hong Kong? http://pwc.to/tD6y13 Tue, 29 Nov 2011 15:41:00 +0800 http://pwc.to/sEaYaf Get the update on the IASB and FASB's new exposure draft on revenue from contracts with customers; and the guidance from the IFRS Interpretations Committee on accounting for stripping costs in production phase of surface mine. http://pwc.to/sEaYaf Tue, 29 Nov 2011 15:37:00 +0800 http://pwc.to/tnMYcQ A practical guide to IFRS which covers the complex accounting requirements of financial instruments. It includes a wealth of practical examples and illustrations to help explain this aspect of accounting, which has become increasingly complicated in recent years. This volume covers the objectives and scope of IAS 32, IAS 39 and IFRS 7; nature and characteristics of financial instruments; financial liabilities and equity; presentation and disclosure. http://pwc.to/tnMYcQ Tue, 29 Nov 2011 15:37:00 +0800 http://pwc.to/rP8WZi Hear from our tax professionals on the cross-border mobility trends in Asia, in particular, we discussed the insights on current Asian mobility patterns and assignment policies; importance of policy efficiency and cost management; and trends in linking talent management to mobility in the region. http://pwc.to/rP8WZi Wed, 23 Nov 2011 18:16:00 +0800 http://pwc.to/t92EER Get the fundamental changes taking place in the tax landscape. Articles including Russia adopts new transfer pricing rules: time to change "wait and see" attitude; the changing landscape of value chain transformation; enhancing shareholder value with transfer pricing integration - TPi; the role of risk in transfer pricing; successful management of the transfer pricing audit process; advance pricing agreements in the Asia Pacific; transfer pricing for financial transactions; case law developments: transfer pricing meets business reality; and OECD: Where to from now? http://pwc.to/t92EER Tue, 22 Nov 2011 14:01:00 +0800 http://pwc.to/uRqbhn Get the salient points and our observations of the two new implementation circulars on the indirect tax reform pilot program ("Pilot Program") jointly released by the Ministry of Finance and the State Administration of Taxation on 16 Nov 2011 in Shanghai. They are Circular Caishui [2011] No.110, titled "Notice Publishing the <Pilot Program for the Transformation from Business Tax ("BT") to Value Added Tax ("VAT")>" and Circular Caishui [2011] No.111, titled "Notice Regarding the Pilot Program for the Transformation of Transportation and Certain Modern Service Industries in Shanghai from BT to VAT". Both Circulars will be effective from 1 Jan 2012 and earmark the official kick off of the long-awaited transformation of BT to VAT for service industries in China. This move will likely bring dramatic changes to the landscape of Chinese indirect tax system. Numerous BT and VAT payers will be impacted either positively or negatively. As usual changes will definitely bring along challenges and opportunities. http://pwc.to/uRqbhn Mon, 21 Nov 2011 15:52:00 +0800 http://pwc.to/sOuLxZ The regulators and accounting body in Hong Kong have recently issued a number of revised Listing Rules and a revised professional standard affecting Main Board and Growth Enterprise Market listed issuers and listing applicants. http://pwc.to/sOuLxZ Thu, 17 Nov 2011 15:20:00 +0800 http://pwc.to/tWqSlW Get our insights into topical tax issues in the insurance industry in Asia Pacific region including FATCA: Assessing the implications for insurance companies in Asia; challenges ahead for foreign insurers in China; taxation of Renminbi investments in Hong Kong; plus tax developments, changes and challenges from Australia, India, Indonesia, Japan, Korea, Malaysia, New Zealand, Papua New Guinea, Philippines, Singapore, Taiwan, Thailand and Vietnam. http://pwc.to/tWqSlW Wed, 16 Nov 2011 09:36:00 +0800