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Monthly Archive: May 2011

KPMG: Singapore companies worry over tax authority investigations

Results from the 2011 KPMG Singapore Tax Survey across a variety of sectors indicate that, over the next two years, companies are increasingly becoming apprehensive about:

• the impact of investigations by the tax authorities (60 percent)
• the penalties for non-compliance with income tax legislation (53 percent)
• GST risk and compliance management (53 percent).

According to respondents, the top three areas in which […]

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KPMG: Top ten errors in occupational pension scheme member records revealed

Using its KLean data quality tool, KPMG has analysed over 100,000 occupational pension scheme member record to reveal some troubling findings.


KPMG Partner Roger Higgins commented: “These findings show that many schemes still have a long way to go in meeting the Pensions Regulator’s data quality targets.  Even where data errors are found, it is not always easy to […]

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Deloitte: Accountant of the Year at Citywealth Awards goes to Deloitte

Now in their sixth year, the Citywealth Magic Circle Awards are annual lists that identify the top achievers in the wealth management sector. Those who appear on the lists do so as a result of independent nominations received through peer recommendation within the global wealth management industry. This year over 7,500 votes were cast online for the awards.

Paula Higgleton, head […]

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Deloitte: Perth expands with 37% Partner increase

With the promotion of six new partners effective 1 July 2011, Deloitte Australia announced today it has continued the growth of its Perth office. Deloitte CEO Giam Swiegers said by 1 July the Deloitte partnership will have grown to 512 partners and more than 5,500 staff members. This is a significant increase from its position 18 months ago. 

This growth in […]

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PwC: The raft of new regulations being introduced concerns insurance industry.

The CSFI’s latest Insurance Banana Skins survey, polled nearly 500 insurance practitioners and industry observers in 40 countries to find out where they saw the greatest risks over the next 2-3 years. Regulation emerged a clear leader in all major markets, including North America, Europe, Middle East/Asia and the Far East/Pacific.

The EU’s Solvency II Directive, due for implementation by the […]

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PwC: Planning and permits threat to European renewables expansion

A new analysis, Moving towards 100% renewable electricity in Europe and North Africa found that while progress towards a potential 100% renewable electricity supply for Europe and North Africa has been largely positive with achievements outweighing negative developments, infrastructure permitting and planning to build or connect new installations to the grid is the area causing the greatest disruption to progress, […]

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PwC: Private Business Barometer now on iPad.

The ninth edition of PwC’s Private Business Barometer is now available free on iTunes and has been launched to compliment the Private Business Barometer, a bi-annual survey of more than 850 private Australian businesses that was released on 2 May 2011.

The PwC Private Business Barometer is a national, independent survey of more than 1000Australian private businesses with an annual turnover […]

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PwC: economic/political backdrop in Europe spells Canadian opportunity

The latest Capital Markets Flash report has four major outcomes for Canadian capital markets and Canadian enterprises in light of the economic turmoil in Europe.


Canada would be negatively impacted by less demand for goods and services and increased competition from surplus European capacity. On the flipside, there would be buying opportunities, adding […]

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PwC: Short haul travel on the rails for business

More than three quarters of journeys by PwC people to Paris and Brussels are now by train. This has increased with the introduction of High Speed 1 (HS1) and is likely to increase again when Deutsche Bahn destinations are available through Eurostar.This will throw another challenge in the direction of the airlines, as they see improving trends on their long […]

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PwC: RevPAR Growth Anticipated for US Lodging Industry

PwC s updated quarterly lodging forecast is based on an updated US macroeconomic forecast from Macroeconomic Advisers, LLC, which, despite slower economic growth in the initial months of 2011, expects economic growth to regain traction in the second half of 2011.  According to this forecast, temporary factors, including inclement weather conditions and reduced defense spending that […]

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Deloitte: Joseph Echevarria Elected CEO

Joseph Echevarria has been elected to the position of chief executive officer in Punit Renjen. Echevarria, 54, was selected in 2007 to serve in his current role as U.S. managing partner and chief operating officer, Deloitte LLP, leading approximately 50,000 professionals in nearly 90 cities throughout the United States and in India. He is responsible for all of Deloitte s […]

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Deloitte: Analysis of top technology and telecommunications trends

Shariq Barmaky, Deloitte Singapore Leader for TMT, comments on the fact that Deloitte Singapore today announces its 2011 predictions for the TMT sector, with mobile communications paving the way for opportunities in the technology and telecommunications sector.

“2011 will see fundamental changes with the mobile communications market as users are increasingly addicted to connectivity. With the promise of improving economic conditions, […]

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KPMG: Difficulty Addressing Tax Implications of Dodd-Frank Act and Basel III

In  a new KPMG survey, 64 percent of the nearly 100 financial executives in the banking industry said it would be difficult for their business to address the tax implications of the Dodd-Frank Act and Basel III. When asked at what stage their bank was for the Dodd-Frank Act and Basel III from a tax perspective, 48 percent of the […]

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KPMG: Boomers leave job market, skills, tax, labour in short supply

KPMG demographer, Bernard Salt, has released a new book with some interesting findings. The new book outlines how Australia can add 180,000 migrants per year and deliver a sustainable future. The Big Tilt is Bernard Salt’s fourth book. His previous books are The Big Shift (2001), The Big Picture (2006) and Man Drought (2008).

Key findings include:  

Australians’ loss of […]

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PwC: Canadian tech firms held back by lack of Venture Capital

For the second straight year, angel investors have taken over as the primary funding source for these companies, with venture capitalist fundraising at a 16-year low and 53% of respondents to its survey who raised money last year received their funding from angels, compared to 8% who received funding from venture capitalists. […]

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