Download Tax Avoidance and Anti-Avoidance Measures in Major by Phyllis Mo PDF

By Phyllis Mo

Tax avoidance and evasion have a major influence at the monetary improvement of each economic climate. constructing economies are fairly at risk of tax avoidance and evasion because of inadequacies of their institutional framework and the shortcoming of enough services and assets to observe the intricacies of this factor. Given the far-reaching influence of profit losses as a result of tax noncompliance, many constructing international locations have undertaken tax reforms to enhance their tax management and carried out a number of anti-avoidance measures to strive against tax evasion. This e-book offers an summary of contemporary tax reforms and institutional frameworks of 4 significant constructing economies, China, India, Brazil, and Mexico, with a spotlight on China.

Most vital, this booklet investigates the tax avoidance behaviors in addition to their anti-avoidance laws. specifically, this e-book comprises an in-depth empirical learn on tax noncompliance behaviors of overseas traders detected by way of the chinese language tax professionals. The empirical facts on how tax coverage and different company components have an effect on tax avoidance habit is helping public coverage makers enhance tax compliance via designing legislative and administrative measures. although the findings pertain to China, the most important constructing economic system, the consequences may be an invaluable reference for different constructing countries.

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Wholly foreign-owned enterprises (WFOEs) are governed by the Law on Sole Foreign Investment Enterprises. A WFOE always takes the form of a limited liability company. With the exception of certain sensitive industries such as telecommunications, utilities, and transportations, it is relatively convenient to set up a WFOE in China. As China enters the World Trade Organization (WTO), the trend is to further relax the restrictions on WFOEs. As a result, WFOEs are becoming popular for foreign investment in China.

Overall Remarks The tax system and the extent of tax reforms vary across countries in developing countries. Each environment necessarily has its unique features, and tax issues must therefore be resolved on its merits. However, one consensus evidently stands out on two points. First, they all seem to believe that each country has the right to tax income arising from that country. Second, they have come to recognize that the tax system should be fair and equitable for all taxpayers even though there are substantial differences in the interpretations of fairness and equity.

Long-term capital gains are taxed at a preferential rate of 20%. Double tax relief is available for companies from countries that have bilateral tax treaties with India. Sales Tax is levied on the sale of goods in India by both the central government and the state government. 5% to 15% at the state level. Expatriates in India may be taxed on India-sourced income or worldwide income depending on their length of residence in India, with the top rate being 30% plus any temporary surcharge. There are other relatively minor taxes in India including Wealth Tax, Service Tax, and Excise Duty.

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