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Banks began processing international renminbi payments through China’s new cross-border interbank payment system (Cips) sparking wide acclaim from participants.
Surveys show 74% of corporates with renminbi exposures cite CIPS delays as their most important regulatory concern, while others identify deregulation.
The OECD released a full version of the global standard for the exchange of tax information between governments, a development that will influence new FATCA requirements.
Nobuo Mori, managing director of AlixPartners’ financial advisory services group, gives his input on common transfer pricing issues in Asia-Pacific and how to avoid being entangled with the tax bureau.