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“Vague” new tax rules raise compliance concerns

Across jurisdictions, vague tax regulations have created compliance challenges for HNWIs and their advisors, according to Michael Olesnicky, senior consultant at Baker McKenzie. “Nothing particularly stunning happened with respect to regulatory developments in Asia over the last year, except for the introduction of the new individual income tax law in China,” Olesnicky told Asian Private Banker, sharing his takeaway from the…

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