OUTLINE
  • Global taxation
  • Issues and challenges
  • Tax planning
  • Adam Smith’s “Canon of Taxation”
  • New tax concepts/new tax introduced
  • Summary and discussions
     Global Taxation
       Involved:
          1 Gain or profit from a business, for 
               whatever of period of time 
          2  Gains or profit from employment
          3  Dividends, interest or discounts
          4   Rents, royalties or premiums
            Pensions, annuities or other periodical 
          5 payments not falling under any of the 
            above 
    Issues and Challenges
   • Literacy rates increase
   • Borderless world
   • Unlimited information (although false)
   • Social media
    –Facebook
    –Instagram
    –WhatsApp
    –Weechat
     Tax planning
   Introduction: 
    Tax planning is a series of measure taken by a taxpayer to manage his 
    income sources with the objective of eliminating, minimizing or deferring 
    tax, but within the ambit of tax legislation   
                           Business income
                          Commencement 
               Business   of business
               Business 
                source
                source    Test to ascertain 
  Tax planning 
                          commencement 
                         Pre-commencement 
                          business  expenses
          company         Cessation of business
          company
     Tax planning
      Including:
          1     Transfer Pricing
          2  Capital gain or business profit?
          3      Transfer Pricing
          4    Arm’s length transaction
              Double taxation agreement
          5