Company News
China Raises Key Interest Rates
China raised key interest rates by a quarter of a percentage point yesterday, sparking worldwide sell-offs in stocks, commodities and emerging-market currencies as investors lowered expectations of Chinese growth.
Vietnam May Suspend New Licensing in Energy Inefficient Cement Sector
Vietnam’s Ministry of Construction (MoC) hopes to pass a suspension in the licensing of new cement production projects in an effort to cool the sector’s rapid development and inefficient use of energy, according to the Vietnam News Service.
Changes to India’s DTC May Mean More Taxes for NRIs
India’s Direct Tax Code (DTC), which looks to become fully operational April 1, 2012, may have serious repercussions for non-resident Indians (NRIs) spending significant amounts of time living or doing business in the country.
Update on Treatment of Non-Public Joint Stock Company Shares
The Ministry of Finance has confirmed that shares of non-public joint stock companies will not be treated as securities following Letter 12501/BTC-CST issued on September 20.
SEBI Ends Practice of FIIs Investing for Individuala
The Securities and Exchange Board of India recently ended the practice of foreign institutional investors investing money collected from a single or few investors in stocks.
SAT Releases Tax Exemptions for Public Housing
The State Administration of Taxation announced in a statement dated Monday that it was exempting taxes on the use of urban land where the land is developed for public housing.
Dezan Shira Expands India Operations
Dezan Shira & Associates is expanding operations in India with a scheduled move to larger premises in New Delhi and a relocation of their offices in Mumbai.
Proposed Law on Securities May Restrict Private Offerings
A proposal to make changes to the Law on Securities may restrict activity for private stock offerings as part of efforts to shield shareholders.
Online SEZ Applications to Begin in October
Companies wanting to establish units in special economic zones in India may begin applying online starting October as part of government efforts to cut down transaction costs and attract more business.
China SAT Issues Export Tax Refund Inspection Procedures
The Chinese State Administration of Taxation issued an announcement on August 30, outlining the processes by which enterprises may be subject to refund inspections.