Regulatory Updates

• India to Loosen Restrictions on FDI into Broadcasting Services
  The Government of India is planning to propose a hike in the maximum foreign direct investment (FDI) capital allowed in broadcasting services - such as direct-to-home (DTH) and cable TV – to a uniform portion of 74 percent. →
• India and Macau Sign Double Taxation Avoidance Agreement
  To aid tax and banking-related information exchange and prevent tax evasion, India signed a double taxation avoidance agreement (DTAA) with Macau on January 1. The agreement will also help to generate a better investment climate for Indian businesses in Macau – a special administrative region of the People’s Republic of China and well-known offshore financial center and tax haven. →
• Shenzhen, Beijing Raise Minimum Wage Standards
  On December 31, 2011, both Shenzhen and Beijing announced their new minimum wage standards for 2012. Following the adjustment, Shenzhen’s minimum wage standard will reach RMB1,500, the highest in the whole country. →
• Beijing Details Foreigners’ Mandatory Social Insurance Participation
  Following the promulgation of a national decreeordering foreign employees’ mandatory participation in China’s social insurance system, Beijing recently issued its own implementation details in a bid to strengthen the enforcement of the new policy →
• China Specifies Services Eligible for Zero VAT Rate and VAT Exemption
  The beginning of China’s pilot value-added tax (VAT) reform has aimed to make transport services and a list of modern services in pilot areas subject to VAT, instead of business tax. Recently, as a new update to the implementation details of the ongoing VAT reform, China’s Ministry of Finance (MoF) and State Administration of Taxation (SAT) clarified that some of these VATable services can enjoy zero VAT rate and VAT exemption. →

View all updates