Managing GST/VAT in the Asian century presentation

Published on 06 Sep 12 by NATIONAL DIVISION, THE TAX INSTITUTE

The 21st century is being labelled the “Asian century”, and Australian businesses are playing a critical role. Multinational organisations and their tax managers need to be mindful of both technical developments and cultural issues in managing indirect axes in Asia. This paper provides key indirect tax developments hroughout the Asian region, as well as sharing some of his experiences in the culture of the way that indirect taxes are managed in Asia.

This paper covers:

• VAT / GST reforms throughout the region – issues and opportunities for multinational companies
• How to deal with the tax authorities and your own tax and finance teams more effectively
• Why understanding the culture of managing taxes in Asia matters
• How to manage tax risks in an uncertain environment
• What can be learned from other jurisdictions for the future development of GST in Australia.T / GST reforms throughout the region – issues and opportunities for multinational companies
• How to deal with the tax authorities and your own tax and finance teams more effectively
• Why understanding the culture of managing taxes in Asia matters
• How to manage tax risks in an uncertain environment
• What can be learned from other jurisdictions for the future development of GST in Australia.

Author profile

Lachlan Wolfers CTA

Lachlan is the Global Head of Indirect Tax for KPMG, as well as leading the Indirect Tax and Tax Technology practices for KPMG China. As part of his role in KPMG China, Lachlan led KPMG China’s efforts in relation to the VAT reform pilot program in China, including providing advice to various Government agencies in relation to several key aspects of the VAT reforms, including the application of VAT to financial services, insurance, construction and real estate, transfers of a business, as well as other reforms relating to the introduction of Advance Rulings in China. Previously he was a partner of KPMG Australia for over 11 years as the head of Indirect Tax in Sydney, and the National head of Tax Controversy services for KPMG Tax Lawyers Pty Ltd. Lachlan is also formerly a Director of the Tax Institute. - Current at 30 September 2019

More by Lachlan R WOLFERS

• Indirect taxes – Looking back and looking ahead paper - 12-September-2019
• Managing GST/VAT in the Asian century paper - 06-September-2012
• Tax issue for companies (and their directors) when approaching, and entering, insolvency paper - 16-October-2009
• In the action of GST paper - 04-September-2009
• A plethora of property issues to ponder paper - 13-March-2008
• Enterprise issues - traversing the tightrope paper - 25-October-2007
• GST and tricky property issues paper - 18-May-2007
• GST and residential property paper - 02-November-2006
• Tax issues for property developers, one-off builders and developers paper - 06-October-2006
• Recent developments in GST & property paper - 25-August-2006
• GST and related income tax issues affecting property - Part 2 - 01-August-2006
• GST and related income tax issues affecting property - Part 1 - 01-July-2006
• Recent developments in GST and property paper - 05-May-2006
• Property Syndication - The Income Tax and GST Issues paper - 07-April-2006
• CGT goes platinum with its 20 year anniversary - 01-September-2005
• Recent developments in the GST treatment of property paper - 30-March-2005
• Recent developments in the taxation of property case studies - 25-November-2004
• Recent developments in the taxation of property seminar paper - 25-November-2004
• GST & Other Tax Issues in Property Development: Gearing up for the Battle Ahead convention paper - 03-June-2004
• The Practicalities of Value Shifting seminar paper - 03-December-2003
• A Practical Analysis of Value Shifting 12 months on - is it real law or a search for the illusory? case studies - 21-August-2003
• GST and partnership issues - 17-October-2002
• GST, CGT and income tax issues for property transactions - 27-September-2002
• GST, CGT & income tax issues for property transactions - 24-September-2002
• Family trust and CGT planning issues - 20-September-2002
• The distinction between capital and income receipts: case studies (Lachlan Wolfers) - 29-August-2002
• GST, CGT and income tax issues for property transactions - 23-August-2002
• GST, CGT and income tax issues for property transactions - 07-August-2002
• Your Practice - Changes and Challenges - 01-May-2002
• GST, CGT and income tax issues for property transactions - 15-February-2002
• GST - Going Concern Issues - 18-June-2001
• Property and Construction - 15-February-2001
• The Simplified Tax System: Is this Governmentspeak for "Complex"? - 01-February-2001
• GST problems and emerging issues - 14-October-2000
• GST review: The Good, the bad and the ugly: a story of the life cycle of ANTS - 01-June-2000
• The Good, the Bad and the Ugly- A Story of the Life Cycle of ANTS - 04-May-2000
• GST new developments - 14-April-2000
• The goods, the bad and the ugly: a story of the life cycle of ANTS - 14-April-2000
• The GST treatment of real estate sales - 10-March-2000
• GST and real estate - 15-February-2000
• Capital gains tax: CGT changes under business tax reform - 01-October-1999
• CGT changes under business tax reform - 30-September-1999

Click here to expand/collapse more articles by Lachlan R WOLFERS.