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SAT Releases Notice on VAT Input Tax Deductions in Fund Projects
The State Administration of Taxation recently released a notice regarding several issues on VAT input tax deductions in financing fund projects, effective October 1, 2010.
New Enterprise Code Number to Serve as Registration and Tax Code
Beginning June this year, authorities are to issue each company an Enterprise Code Number (ECN) that will be used as both its business registration code and tax code.
Minimum Alternate Tax Not Applicable to Companies with No Establishment in India
A verdict made by the Authority for Advance Ruling (AAR) in July has confirmed that minimum alternate tax (MAT) is not applicable to foreign companies with no permanent establishment in the country.
China Exempts Outsourcing Companies from Business Tax
The Chinese government announced on Wednesday that it will exempt offshore service outsourcing companies from business tax in 21 of its major cities from July 1 of this year through to the end of 2013.
Qingdao Tax Bureau Releases New Notice on Corporate Income Tax
The local Qingdao taxation bureau recently issued a notice regarding the management approach of corporate income tax for financial funds, effective September 1, 2010. The notice, issued July 21, applies to enterprises which both obtain financial funds and pay corporate income tax in Qingdao.
Private Security Business Now Open to Foreign Investment in Vietnam
Under Vietnam’s Decree 52, the security services industry is now open for foreign investors wanting to form a joint venture with local companies. A circular released by the Ministry of Public Security in July 14 clarified the new decree and will be applicable beginning August 28.
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
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.
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,
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