Company News
Tax Collected at Source in India
The vendor has to accumulate tax from the payer who has purchased the following items:
U.S. Car Exporters Get Hit by China’s New Tariffs
The Chinese government recently announced the imposition of two new tariffs on U.S. car imports, bringing higher market access thresholds to U.S. auto manufacturers.
Amended Rules for Unlisted Public Companies
The Central Government of India has recently made amendments to the list of rules for Unlisted Public Companies (known as the “Unlisted Public Companies Preferential Allotment [2011]”).
Business Registration Set to be Streamlined in Mid-2012
The Ministry of Planning and Investment (MPI) of Vietnam has recently drafted a circular pertaining to an online registration initiative for start-up businesses that aim to streamline the establishment process.
Lower Rent for Manufacturers and Environmental Tax Exemptions
On November 23, the Vietnamese Government issued Decision No. 2093/QD-TTg to reduce businesses’ land use rental costs for 2011 and 2012. A 50 percent reduction in rentals for leased land will be enjoyed by firms conducting manufacturing businesses.
China to Further Regulate Labor Dispute Mediation
China is tightening its regulations on labor dispute mediation so that employees can find ways to better protect their labor rights, and so that employers treat labor disputes more seriously.
China to Offer Incentives to Its High-Tech, Cultural Industries
In a recent statement, China’s State Administration of Taxation (SAT) has vowed to offer more tax incentives to the country’s cultural industries, especially those emerging cultural industries essential to China’s advancement in technological innovation.
Calculating Individual Income Tax on Annual Bonus in China
As the year’s end is approaching, many companies in China are poised to give out annual bonuses. However, when contemplating the appropriate bonus amount, employers should pay close attention to the calculation of individual income tax (IIT) on bonuses.
Sale of Food Not for Immediate Consumption Now Subject to VAT
Starting next year, the sale of food not for immediate consumption from hotels and food & beverage (F&B) businesses will no longer be subject to business tax (BT), according to China’s State Administration of Taxation (SAT).
China Announces Official 2012 National Holiday Schedule
China’s General Office of the State Council released the “Circular on Arrangement of Certain Holidays in 2012 (guobanfamingdian [2011] No.45)” today and announced the arrangement of national holidays in 2012 as follows:
To learn more about how we can support you, contact one of our local experts.
We provide professional services tailored to Asia´s business environment across the full business cycle.
Talk to experts