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Monthly Archives: August 2011
Shenzhen Specifies Taxable Project Filing Details for NREs
Shenzhen’s tax authority made a new announcement recently in order to better regulate tax collection from non-resident enterprises. The document underlines the taxable project filing obligations of non-resident enterprises as well as their related domestic partners, and clarifies relative filing details such as time limits. Continue reading
Key Points: India’s Economic Outlook For 2011-2012
India’s Economic advisory council has released its outlook for the year 2011-12. Some vital points are given below:
Vietnam Commits US$48.8 Bln Towards Increasing Electricity Capacity
Vietnam’s Ministry of Industry and Trade recently announced that the country will be spending US$48.8 billion to help boost electricity generation capacity to meet the growing domestic demand. Continue reading
One More Step towards FDI in India’s Multi-Brand Retail
Multi-brand retailing, perhaps the most vital issue of the new century in terms of FDI in India, has gone ahead by one more step. The top notch secretaries of the Indian government have forwarded 10 recommendations to the Commerce and Industry Ministry. Continue reading
China Takes Anti-dumping Measures on Imported Photographic Paper
China has decided to impose temporary duties on photographic paper and paper-board imported from the European Union (EU), the United States and Japan for anti-dumping purposes. Starting from August 10, importers of those products have been required to pay a cash deposit at Chinese customs. Continue reading
Tax Policy Clarification Released for China’s Western Region
On July 27, China’s National Bureau of Statistics, the Ministry of Finance, and the General Administration of Customs jointly published the “Circular on Issues Concerning Tax Policies for In-depth Implementation of Western Development Strategy” (Caishui [2011] No.58, “Circular”), effective from January 1, 2011.
China Clarifies Issues Related to New IIT Law
Following amendments to China’s Individual Income Tax (IIT) Law, which are scheduled to come into effect from September 1 this year, China’s State Administration of Taxation (SAT) made a new announcement on July 29 with regards to the revised IIT Law. The document specified how taxpayers will be subject to the old and new tax rates during different times of the tax year and how IIT on the income of individual businesses shall be calculated.
China Further Standardizes Cross-border RMB Settlement Operations
Roughly two years after China launched its pilot program for using RMB settlements during cross-border trading transactions and overseas investments, the People’s Bank of China (PBC) released a new circular on June 3 to clarify agent banks’ authority limits and operational details for both enterprises and banks. Continue reading
New China Business Handbook Available for Complimentary Download
Produced in cooperation with the U.S. Commercial Service and Dezan Shira & Associates, the China Business Handbook (Second Edition) is now available for immediate PDF download on the Asia Briefing Bookstore – offering readers an informative guide to starting and growing a business in this dynamic market.
Posted in Asia, China, Company News, English
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China Customs Reduces Tariffs on 33 Commodities
China’s Customs Tariff Commission of the State Council released a circular (shuiweihui [2011] No.12) on June 24, announcing adjustments to import duty rates on 33 kinds of products starting on July 1, 2011. Goods that are subject to a tariff cut according to the document include fuel oils and several types of raw materials to the country’s textile industry. Continue reading
