A review of the decision in Platypus Leasing Inc & Ors v. Federal Commissioner of Taxation [2005] NSWCA 399 and its interaction with ATO GST Ruling GSTR 2005/3, on claiming input tax credits when purchasing second-hand goods.

Australia and France signed a new tax treaty, which will replace the existing income tax treaty signed in 1976 and the airline profits agreement signed in 1966. This article provides an outline of the main features of the new treaty from the Australian perspective.

The analysis and conclusions drawn from the results of a work satisfaction study of tax professionals in Singapore is discussed in this interesting article.

South Korea, like an increasing number of countries, has been concerned with the improper use of its tax treaties and has recently taken measures to prevent such abuse. The authors analyse the recent changes, namely the “substance over form” rule and new withholding requirements.

The Kyrgyzstani tax regime is described.

This comparative review aims to ascertain the current approach to corporate tax risk management in the Asia-Pacific region by providing an overview of the tax risk management practices in selected regional economies - Australia, China, Hong Kong, India, Korea, New Zealand and Singapore. We have asked tax practitioners from leading consultancies in those countries to briefly outline the status of the corporate governance in their country as well as the observed attitude to corporate tax risk management. The results show the entire gamut of approaches - from comprehensive and structured appraisal of tax risks before they arise to limiting management of tax risk to post-transactional tax compliance issues.

Reports on the following: Australia, Bangladesh, China, Hong Kong, India, Indonesia, Israel, Japan, Kazakhstan, Macau, Malaysia/Saudi Arabia, Nepal, North Korea, Pakistan, Singapore, South Korea, Syria, Taiwan.