For almost three decades, the Australian Treasury has issued an annual ‘tax expenditure statement' detailing concessions in Australia's tax laws. It was originally argued that tax expenditure budgets (the international term for these statements) would lead to simpler laws with fewer and better...

To date, the focus of most literature on VAT and financial supplies has been on the appropriate treatment of the cost of financial intermediary services related to investments and business loans. This paper broadens the inquiry to a wide range of financial services including consumer loans,...

The market economy has brought tremendous wealth and equally significant income inequality to China. This article attempts to analyse the role that different types of income play in fostering inequality or the extent to which the tax system, with a notionally progressive personal income tax, may...

The VAT treatment of prepayments or deposits for hotel rooms or airline tickets where the customer does not use the service has generated considerable debate and litigation. One view expressed is that the supplier is making the service (room or flight) available so VAT is payable whether or not...

Prior to 2012, the Chinese VAT applied primarily to supplies of goods, with supplies of services, including financial services, subject to a turnover tax known as the Business Tax. The value of financial services in respect of a loan was interpreted as the gross interest payable on the loan. As...

While there have been many studies of the relationship between cultural adaptation and media usage by immigrants to Anglo countries, there have been no studies published in English of media use by international students in China. Researchers investigating media use of international students in...

The impact of the digital economy on tax compliance, tax bases and tax administration has emerged as a key issue for taxpayers, tax advisors, tax administrators and tax academics. The topic was the focus of the 13th International Conference on Tax Administration organised by the University of...

As one of the last countries in the region to adopt a goods and services tax (GST), or value‑added tax (VAT) as the tax is commonly labelled outside Anglo jurisdictions, Malaysia had no shortage of international and regional experiences to draw on when designing and implementing the new tax....

Australia's goods and services tax (GST) follows the conventional VAT model and treats loan intermediary services as input taxed (exempt) supplies. Financial supplies are defined in regulations in terms not greatly different than found elsewhere. However, the Australian rules contain a number of...

Prior to May 1, 2016, the supply of loan intermediary services and many other services in China was subject to tax under a turnover tax regime known as the Business Tax. As a turnover tax, the system had a tax cascading effect, with suppliers unable to recognize input taxes incurred on...