AGM Automotive is a global supplier of interior trim, lighting and electrical components. UHY LLP, Michigan, US, provided global tax and audit services. UHY Hacker Young, London, UK, provided consultancy on sales tax. In China, ZhongHua CPAs, provided statutory audit services to AGM’s Chinese subsidiaries. UHY’s member firm in Netherlands, Govers Accountants/Consultants, advised on corporate structuring and a potential joint venture.
- No inheritance tax in emerging economies such as China, India and Russia
- Major economies under pressure to abolish unfair ‘death tax’
- Emerging economies resist introducing IHT in order to attract investment
• Yet almost no difference between lower income tax payers in G7 and BRIC countries
• Russia has lowest rate for top earners