Surprise! India has the third highest expat salary packages in Asia

International News

With Hong Kong and Singapore routinely topping the charts as the most expensive places to live and play, it may come as some surprise that Japan offers the best pay packets for expats in Asia.

The average expatriate pay package provided by companies in Japan to mid-level employees is $386,451 a year, eclipsing what’s on offer anywhere else in the region, according to a report by consultancy ECA International. Japan also saw the biggest increase in expat package values last year, thanks to a stronger yen and steeper housing costs, said Lee Quane, a regional director at the firm.
ECA's annual MyExpatriate Market Pay Survey measured expat packages by cash salary along with other perks including accommodation allowances and international school subsidies. It also took the various countries’ tax systems into account.Perhaps because of some of the challenges living in India entails -- think bad traffic, overcrowding and pollution -- it came in at No. 3, with companies offering mid-level staff an average package of $299,728 to attract overseas talent.

Hong Kong, the world’s least-affordable city, took the No. 4 slot in Asia, with firms shelling out $276,417 to international employees. Add-on benefits over and above salary were the highest in the region.Singapore only just squeezes into the top 10. The city-state, known for its low taxes, good schooling and easy outdoor lifestyle, mean companies don’t need to offer as many other bells and whistles.

On balance, it’s still better to be based in Asia as an expat, the ECA study found. Packages in the U.S. averaged just $250,028. In Australia, seen as a


 dream destination for many because of its wide open spaces and coastal cities, packages were $266,848.Topping the list globally was the U.K., with an average expat package of $421,798....Read More

Interim Budget 2019: Using technology to increase tax base and reduce rates

Economy & Policy:

In the Interim Budget 2019 speech, Finance Minister Piyush Goyal has reiterated the government's aim to continue technology-led tax reforms.

Technology to increase tax base and reduce rates

The use of technology is the only sustainable measure to increase tax compliance, tax base and eventually, tax collections. It is only when the government has reasonable surety of tax collections, can it take the steps to reduce tax rates and lower the burden on existing tax payer base.

According to government data sources, FY18 saw a 26 per cent rise in the number of income tax returns filed compared to last year, effectively adding 9.95 million new income tax payers. Estimates, according to statements of senior revenue officials, for new taxpayers to be added in 2019-20 is around 10 million. Consequently, there has also been a steady increase in tax collection year-on-year. This has allowed the government to reduce tax rates, for instance slashing the rates for companies having turnover below Rs 250 crore to 25 per cent and recent reductions in GST rates. Major contributors to these initiatives are technology-led reforms.

Digital tax administration and taxpayer experience


 It is not too far in history when individual taxpayers had to undergo several rounds of follow-up with the tax office to initiate refunds. With the set-up of Bangalore CPC, refunds for individual taxpayers are swift and relatively quite easy...Read More