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Withholding Tax Payments for Foreign Contractors in Vietnam
Foreign contractors are subject to withholding tax on payments for work done in the country based on contracts signed between them and Vietnamese partners.
Retail FDI May Be Allowed in India with Back-End Investment
Authorities are said to be considering foreign direct investment in multi-brand retail if foreign retailers invest heavily on back-end infrastructure like warehousing and cold storage.
SAT Standardizes CIT Preferential Policies During Transition Period
The State Administration of Taxation recently released a circular that further clarifies specific issues concerning resident enterprises selecting the application of tax rates and halved tax collections during the transition period for enterprises moving from preferential tax rates to the standard CIT rate which came into effect Jan. 1, 2010.
New Liquidation Procedures for Troubled Firms in India to be Released
The Indian government has announced plans to formulate an exit scheme that will make it easier for troubled companies to go through the liquidation process.
China Getting Aggressive Over Transfer Pricing Documentation
The China tax bureau has become increasingly demanding over provisions of transfer pricing documentation from companies currently undergoing audit in China for the 2009 annual period.
Highlights: India
The Indian government has simplified some foreign direct investment policies that affect investment coming into the country. These are largely to be welcomed.
China Considering Introducing Social Security Tax
The Ministry of Finance is considering levying a social security tax in an effort to narrow the wide gap in income distribution.
New Regulations for VAT General Taxpayers in China
To help manage the qualification of general taxpayers status for the payment of value-added taxes, the Chinese State Administration of Taxation recently issued a new management approach effective March 20, 2010.
Indian Government to Ease FDI Approval Process
The Indian government is considering relaxing norms for foreign direct investment to require that only projects worth about US$217 million to US$326 million will need final approval from the Cabinet Committee on Economic Affairs (CCEA).
Maximizing Import Duty Exemptions in Vietnam
Foreign investors in Vietnam may need to import components of their business not be readily available in the local market.
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