PepsiCo Inc.’s legal battle with Australia over cross-border transactions will soon result in a final high court ruling that threatens to hike taxes for multinational companies.
The Australian Tax Office is arguing that PepsiCo owed taxes on royalties that were “embedded” in a sale of beverage concentrate from a Singapore Pepsi affiliate to an Australian bottler. The company won an earlier round in a lower court.
A loss for PepsiCo in the case could particularly expose industries such as pharmaceuticals and technology to higher royalty taxes, and may determine the extent to which Australia can use its diverted profits tax.
The Monetary Authority of Singapore (MAS) and the People’s Bank of China (PBOC) are planning to advance cooperation in green and transition finance between China and Singapore. The central banks discussed
The European Union’s crypto regulatory framework MiCA goes into full force, heralding significant changes for the industry. Major events like the ICO boom and the implosions of Terra and FTX have
Press Release from Jersey Finance, Friday 18 October, 2024. Jersey’s finance industry has reported robust growth across its funds, banking andcorporate sectors over the first six months of 2024, despite
A new analysis by HMRC of undisclosed foreign income by UK residents published today has identified £400m of under-declared tax from offshore income, with 16% of individuals not reporting and paying