Global

Details

  • Service: Tax
  • Type: Event
  • Date: 5/10/2013

Beneficial ownership in Asia Pacific 

Steven Economides:

Companies should start by firstly understanding their own circumstances. If as a matter of substance they’re not prepared to locate true decision making responsibilities in an offshore subsidiary then they should be aware that it will be hard to use treaty benefits. What I think this will mean is that countries like the Caymans, Bermuda, Mauritius will cease being used in offshore tax planning ad what will happen is you will look at jurisdictions like Singapore that have regional holding company structures and you will base your offshore structure around a jurisdiction that has a good treaty network firstly, secondly is a location that people are prepared to live at and thirdly you already are carrying on business operations and fourthly, and most importantly, it has a regional holding company exemption for dividends so that you won’t be subject to double tax.

Steven Economides, KPMG’s Asia Pacific Regional Leader, Global International Corporate Tax, KPMG in Australia, discusses beneficial ownership issues in Asia Pacific.

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