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    May 6, 2011

    Provident Fund Scheme for International Workers in India

    The Employees’ Provident Fund Organization is a legislative body of the Government of India under the Ministry of Labor and Employment. It manages a mandatory contributory Provident Fund (PF), pension and an insurance scheme for the Indian work force. It is one of the biggest social security units in the world in terms of members and volume of financial transactions.

    May 5, 2011

    China to Collect IIT on Tax Borne by Employers on Behalf of Employees on Annual Lump-Sum Bonuses

    The China State Administration of Taxation (SAT) issued the Circular regarding the Calculation of Individual Income Tax on the Portion of Tax Borne by Employers on behalf of Employees on Annual Lump-Sum Bonus (“Circular”) on April 28, 2011.

    May 4, 2011

    Beijing Government Issues Circular on Collection of Union Fees

    The General Office of People’s Government of Beijing Municipality issued the Circular on the Commencement of the Pilot Work with regard to the Collection of Union Contributions and Preparation Fees by the Beijing Local Tax Bureau (Jingzhengbanhan [2010] No. 34) (Circular).

    April 29, 2011

    China Revises Foreign Investment Catalog

    Following the principles in the State Council document “Opinions on Further Improving the Work of Utilizing Foreign Investment,” China’s National Development and Reform Commission (NDRC) has recently added a number of changes to the “Foreign Investment Catalog.” The proposed changes are now open to public comment until the end of April.

    April 29, 2011

    Producers in China Now Require Goods Production Certificate

    According to a new announcement by the State Administration of Taxation (SAT) any taxpayer that sells its own products and provides construction services needs to provide a goods production certificate in order to avoid double taxation by the state and local tax authorities.

    April 27, 2011

    Newer, Faster Approval Procedure for Businesses Underway

    India will soon have a system in place that will simplify the process of approval for business projects, according to a government official. It will not only encourage investors to invest in India but also young entrepreneurs to start up their own businesses.

    April 27, 2011

    New Decree Detailing Telecom Law of Vietnam

    Decree No.25/2011/ND-CP of the government which was issued on April 6, 2011 provides enterprises, including domestic and foreign owned ones, some new regulations in the lucrative field of telecom.

    April 25, 2011

    Shenzhen to Raise Fuel Surcharge for Red Taxis

    Effective from April 23, 2011, the fuel surcharge for red Shenzhen Taxis was raised from RMB 2 to RMB 3 per ride, making Shenzhen the city with the most expensive fuel surcharge in the country.

    April 20, 2011

    SAT’s New IIT Collection Measures to Focus on Foreigners

    The State Administration of Taxation (SAT) has recently announced measures to intensify the regulations on individual income tax (IIT) levied on high-income individuals who may obtain their incomes from more than one avenue.

    April 18, 2011

    India Allows 100% FDI in Several Key Sectors

    India’s Department of Industrial Policy and Promotion has released the “Consolidated FDI Policy – Circular 1 of 2011,” that will allow 100 percent FDI in the development and production of seeds and planting material, floriculture, horticulture, and cultivation of vegetables and mushrooms under controlled conditions.

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