Category: AMP

AMP reassures shareholders about tax

AMP has reassured shareholders at its annual general meeting that it’s not involved in tax avoidance. Wealth management giant AMP has told its shareholders that it’s not aggressively avoiding tax. The company was responding to a question at its annual general meeting during which it also released quarterly results that… – Continue reading

India: Transfer Pricing Regulations Engulfs Market Intangibles

Trade in today’s global era visualizes significant number of international transactions in form of transfer of goods, services, capital and intangibles. International transfers arise within the Multinational Enterprise group entities and are called intra-group transfer. What is actually paid by one entity to another entity in the intra-group transfer is… – Continue reading

Josh Frydenberg to boost funds management exports

The funds management industry has welcomed a commitment from Assistant Treasurer Josh Frydenberg to make tax and corporate law changes that will boost the export of asset management services to Asia. Complex and uncompetitive legal and tax settings in Australia have acted as a handbrake on the export of financial… – Continue reading

Australian Senate tax grandstanding: A preparation for austerity

An Australian Senate parliamentary committee hearing on Wednesday was dominated by the fire and brimstone of Labor and Greens politicians directed against tax avoidance by major corporations. Labor Senator Sam Dastyari called on Australian Tax Commissioner Chris Jordan to “name some of Australia’s worst corporate offenders,” declaring that they “should… – Continue reading

Cleaning up the transfer pricing mess

Two important developments last week in the transfer pricing domain have the potential of completely transforming the way this critical and controversial tax area has been handled by the income-tax department. One is the Delhi High Court judgment on tackling the AMP (advertisement, marketing and sales promotion) expenses involving a… – Continue reading

AMP not avoiding tax, says CEO Craig Meller

AMP chief executive Craig Meller has launched an aggressive defence of the company’s inter­national taxation arrangements after the financial services giant was named among some of the world’s biggest multinationals that allegedly channelled funds through Luxembourg to minimise their tax bills. The recent meeting of the G20 leaders in Brisbane… – Continue reading