January TaxPulse by Alliott Group

ASIA PACIFIC

Chinese leaders promise tax cuts to boost flagging economic growth

China’s top economic policymakers promised more tax cuts and increased funding for infrastructure at a key annual planning meeting last month, as US tariffs and weakening domestic consumption added to downward pressure on growth. China’s economy slowed to 6.5% year-on-year growth in the third quarter of 2018. “The pro-active fiscal policy should enhance efficiency, implement larger-scale tax cuts and fee reductions, and substantially increase the size of local government special bonds,” state news agency Xinhua said in a translation provided by Reuters.
CNBC   Financial Times   South China Morning Post

Report reveals biggest headaches for global mobility professionals

Alliott Group’s Global Mobility Services Group is one of the co-sponsors of the recently published ‘2018 Managing the Global Mobility Function’ benchmarking study published by the Forum for Expatriate Management.

We share some of the highlights of this thought leadership report.

E-Commerce and the Special Scheme for Distance Selling

According to a study conducted by the CRR (Centre for Retail Research), e-commerce generated net sales of €232.6 billion in Europe and Poland in 2016 and €265.7 billion in 2017.

In 2018, this market should exceed €300 billion. Although it proves a fantastic opportunity for online sellers, e-commerce can also be the source of significant tax risks, particularly VAT. Mickael Tatayas, Head of Alliott Group’s VAT/Indirect Services Group, explains the state of play in Europe and provides scenario examples.

Xero, Bill English and the power of data

NZ Herald reported this month how Sir Bill English’s skills are in demand by the Trump Administration as it moves to leverage US Federal data as a strategic asset to grow the economy.

The former PM and Finance Minister is taking American officials through the ground-breaking integrated government data system he spearheaded in New Zealand.

“I just spent a week in the States talking about integrated data,” he told a finance dinner on Wednesday.

Alliott NZ Top 30 NZ Accountants for second year

Auckland’s Alliott NZ Chartered Accountants is recognised as one of Chartered Accountants Australia and New Zealand’s (CAANZ) Top 30 accounting firms in New Zealand for the second year running.

A compilation of New Zealand’s top accounting firms has shone a light on the contribution made by NZ accountants. Accounting firms in New Zealand were ranked for the second time and the Top 30 list was published yesterday in Sunday Star-Times, in partnership with Fairfax Media and CAANZ.

A key theme for CAANZ is exploring the increasingly important role of digital innovation, technological disruption and the future of reporting.

Taxing the digital economy fairly

David Gibbs, corporate tax partner at London accounting firm Alliotts (and chair of Alliott Group’s International Tax Services Group) explains in this short report that the OECD and the European Commission (EC) have both issued publications with their respective latest analysis and proposals to tackle the issue of taxing profits and income earned from within the digital economy.

So where are we now in terms of concrete proposals? Read David’s views below.

Newmarket goes platinum with new Xero Platinum Partners, Alliotts NZ

The team at Alliott NZ in Auckland is delighted to announce that we reached Xero Platinum Partner status in September.

What does going Platinum mean for Alliotts clients?

Protect your clients and your rep with Xero backup by Control-C

As Accountants and Xero Platinum Partners in Auckland, we regularly recommend that our clients use Xero.

Inevitably, our Xero clients also ask what would happen if Xero were to go into outage for an extended period or even ceased operations – how would they access their data and records.

Wayfair: Could the US Supreme Court decision open Pandora’s Box across the globe?

In the case of South Dakota vs. Wayfair, the United States Supreme Court may have opened a Pandora’s Box of tax compliance problems around the world as states seek to collect taxes they believe are due to them.

Alliott Group colleague Daryl R. Petrick of Californian accounting firm Bowman & Company, LLP, explains the decision and the potential reverberations for domestic and international retailers.