Company News
SAFE Regulates Domestic Banks Engaged in FDI
The State Administration of Foreign Exchange recently issued a notice regarding the foreign exchange regulation for domestic banks which are engaging in FDI, effective from September 1, 2010. Domestic banks involved in foreign investment should first get approval from the banking supervising department or other relevant authorities, and then bring the materials required to the local branch of the State Administration of Foreign Exchange to process the FDI registration.
India to Consider FDI in Domestic Carriers
Authorities will soon begin talks on possibly raising foreign direct investment in local carriers to push New Delhi
Dezan Shira to Open Branch in Qingdao
Dezan Shira & Associates, the specialist foreign direct investment practice, is opening a branch office in Qingdao. We have been servicing clients in Qingdao for over 10 years,
Vietnam Exempts Import Tax Under Australia, ASEAN, New Zealand Treaty
Vietnam will exempt as much as 90 percent of tax lines on goods imported from Australia, New Zealand and Association of Southeast Asian Nations members this year. By 2017, Vietnam will remove import tariffs on butter, milk and cheese. Import duties on car components will also be slashed to 5 percent by 2018.
Double Tax Avoidance Agreements Still Applicable in India Despite New Tax Code
The revised discussion paper on India
Common China VAT Mistakes by Foreign Investors
Value-added tax is a primary tax in China, if the VAT complexities are misunderstood, or not catered for, the investor stands to lose out.
Vietnam Extends Deadline for 2009 Personal Income Tax
Authorities have extended the deadline for 2009 personal income tax (PIT) finalization from May 31 to July 31, 2010. Official Letter 7209/BTC-TCT is the second deadline extension announced for the year. Personal income tax in Vietnam is computed on the average monthly taxable income (divided by 6) and monthly tax rates.
New Environmental Tax Law Submitted to Vietnam
Vietnam is debating a new Law on Environmental Protection Tax as the impact of the country’s rapid development and modernization on the environment.
CIRC to Ease Limits on Insurers
The China Insurance Regulatory Commission will ease limits and relax some rules on investments made by insurance companies in stocks and bonds.