Together with Hubbis, a community for wealth management professionals in Asia, we have conducted a survey to find out what challenges the market is facing and how wealth managers can react to global tax compliance.
The key findings have been summarized in a short report and have been set amidst the assessment of some of the key broader tax and compliance issues and considerations that the wealth industry in Asia should, or rather must, take on board. The Covid-19 pandemic has slowed economic and social activities and thus regulators are even more in need of bolstering dwindling tax revenues. Tax transparency is the new reality and respondents of the survey explained that they are under pressure from all quarters. Read the whole report to find out how they prepare and how increased reporting obligations can be turned into a competitive advantage.