Tax aspects of opening a business hub in Asia
Corporate structures
Tax aspects of opening a business hub in Asia
Thu 01 Jul 2021
The Asian Development Bank has forecast that developing Asia’s growth is forecast to rebound to 7.3% in 2021 and 5.3% in 2022. This compares to 4.2% and 4.4% respectively for Europe (see here) and 6.9% and 3.6% for the US (see here). Businesses already with a footprint in the Asian region will be gearing up their operations to deal with the region’s expected growth, while those looking to establish themselves will be considering the most appropriate locations.
There will be a range of factors to consider in how to expand in the Asian region, whether from an existing base or a new base. In addition to the various business and regulatory challenges, one of the areas to consider will be tax. Larger businesses will be familiar with considering transfer pricing and country by country reporting issues (see our summaries for the Asia Pacific region here).
We have offices in a range of Asian jurisdictions as noted in the table below. Our Singapore team has produced an article considering the tax issues associated with those considering Singapore as a location and for a possible acquisition (see here).
For further information on our global tax practice, please see here.
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