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China ROs to be Subject to Transfer Pricing Regulations During 2010 Audit
Representative offices in China may find themselves having to comply with China’s transfer pricing regulations for the first time in the upcoming annual audit period.
Using Double Tax Treaties to Maximize China Investment Effectiveness
Utilizing potential DTAs is something that needs to be discussed at the planning stage of any investment into China, as applications to government organizations such as customs and the tax bureau need to be made by the new entity in order to take advantage of the pertinent DTA.
Vietnam Central Bank Slashes Reserve Ratios for Some Banks that Lend to Agriculture
Vietnam’s Central Bank said Thursday that it was cutting the reserve ratios of five lenders that all have a large amount of capital loaned to the country’s agricultural sector.
Bill to Allow Options Trading, Commodity Derivatives Introduced
The Minister of State for Agriculture K.V. Thomas introduced in Lok Sabha on Monday a new bill that would allow trading in options in goods and would likely lead to the development of new commodity derivatives that will provide a wider set of opportunities to investors for risk management.
China Clarifies Method of CIT Calculation Derived from Capital Gains and Other Income
The State Administration of Taxation (SAT) issued the “Announcement on Corporate Income Tax (CIT) Treatment on Capital Gains and Certain Other Income Derived by Enterprises” (SAT Announcement [2010] No. 19) on October 27 to clarify the CIT calculation method with regards to income from capital gains and other avenues.
China Announces Public Holiday Arrangement for 2011
The State Council released the “Circular on Part of the Holiday Arrangement in 2011” (guobanfamingdian [2010] No.40) on December 9 with the official holiday schedule next year.
New Regulations for Resident Representative Offices in China
China’s State Council recently issued new regulations to “strengthen” the administration of resident representative offices (ROs) of foreign enterprises in China. These regulations affect foreign investors setting up representative offices in China, as well as ROs already established on the mainland.
PM Calls for Regular Submission of Statistical Reports
Vietnam’s prime minister has approved a new regulation that will make it mandatory for state-owned enterprises (SOEs) and foreign invested companies and projects to issue regular statistical reports.
India Issues ‘Project Visa’ for Foreign Workers in Power and Steel Sectors
The Indian government has recently introduced a new type of visa – the “P” (Project) Visa – within the employment visa regime for foreigners who come to India for the development of projects in power and steel sectors. Currently the new visa does not apply to foreign employees in other sectors.
Enterprises Can Enjoy Tax Deductions by Recruiting the Unemployed
China’s new taxation policy to improve the country’s unemployment situation is going to take effect next year. Enterprises that meet certain criteria will be able to receive tax deductions through recruiting unemployed individuals that meet the standards listed in the related circular.