Our collection of resources based on what we have learned on the ground
Resources
Q&A
How will tax deductions affect enterprises in India?
- January 2013
- Free Access
All entities in India – including foreign representative offices and Indian setups, such as wholly-owned subsidiaries – are required to make tax deductions at source on employees’ salaries on behalf of the Income Tax Department. &n...
Q&A
Is there tax deduction when payments of withholding tax are paid to non-resident...
- January 2013
- Free Access
The Income Tax Act in India provides for deduction of tax at source on payment for withholding tax. These provisions are also applicable in case of payment made to non-residents. The person responsible for payments to non-resident should deduct tax a...
Q&A
How does tax deduction operate in India?
- January 2013
- Free Access
A tax deduction is a changeable amount that can be subtracted, or deducted, from an assessee’s gross income, lowering the amount of tax paid. All entities in India (including foreign representative offices and Indian setups like wholly owned su...
Q&A
What is ASEAN?s potential?
- January 2013
- Free Access
ASEAN represents a market of around 600 million people, with a combined GDP of around US$1.8 trillion. The OECD (Organization for Economic Cooperation & Development) has projected growth within ASEAN to be about 6% per year for the period 2011-15...
Q&A
What requirements are in place to be eligible for tax incentive in Western regio...
- December 2012
- Free Access
From January 1, 2011 to December 31, 2020, enterprises can enjoy a reduced corporate income tax at a rate of 15 percent, upon fulfilling the below criteria and being approved by the relevant tax office: Based in the western region (including, but ...
Q&A
How is withholding tax defined in China?
- December 2012
- Free Access
Withholding tax is levied on passive income – such as dividends, interests, royalties, bonuses, other equity investment gains, rentals, transfer of property – received by non-resident enterprises from China. It is levied at a rate of 10 p...
Q&A
What are the general accounting treatments on revenues in Vietnam?
- December 2012
- Members Access
The revenue to calculate taxable income is the total proceeds from the sale of goods, processing amount, and services supply amount, including price subsidies, surcharges or anything else that enterprises are entitled to enjoy regardless of the colle...
Q&A
What are the general accounting treatments on reserve funds expenses in Vietnam?
- December 2012
- Free Access
Appropriations to all funds should be made in accordance with the articles of association and a board resolution. Provision for reserve funds must be computerized and strictly follow guidance from the Ministry of Finance.
Q&A
How is stock take carried out in Vietnam?
- December 2012
- Free Access
In conducting stock take, the following steps should be followed: Observe whether the stocks are neatly kept, whether bins are properly labeled, and whether large items are properly piled and marked. Check that counting is systematic and that pre...
Q&A
How human resources modifications should be reported in Vietnam?
- December 2012
- Free Access
The annual representative office (RO) report should state the policies which an RO applies to employees such as salary, bonus, insurance and other operations. If there are any changes related to the number of employees in a RO, the RO must report th...
Q&A
What is taxable for corporate income tax (CIT) and when such tax report should b...
- December 2012
- Members Access
Taxable income includes any income from production, trading activities, services and other income, whether or not such income has been generated in Vietnam. Although corporate income tax (CIT) is declared and paid quarterly, enterprises must still c...
Q&A
What does corporate income tax (CIT) include in Vietnam?
- December 2012
- Free Access
A Corporate Income Tax (CIT) return should include the following: CIT finalization statement (form 03/TNDN) issued with Ministry of Finance circular 28/2011/TT-BTC on February 28, 2011; The annual financial statements and other related documents;...
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