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New Tax Code Proposes Investment-Linked Incentives
The Direct Taxes Code (DTC) Bill is suggesting that profit-linked incentives can be replaced with investment-linked incentives for businesses that currently enjoy tax cuts.
Guangxi Clarifies Tax Management on Major Construction Projects
The Guangxi provincial tax bureau released a notice on Aug. 27 clarifying tax management on major construction projects, effective from October 1, 2010.
Vietnam to Set Up Tax Agency for Large Businesses
Vietnam has established the Large Enterprise Tax Management Department to specifically cater to the tax issues and payment needs of major corporations.
Approved Direct Tax Code Bill Cuts Rates
India’s Cabinet approved the Direct Taxes Code Bill yesterday, part of the government’s efforts to simplify procedures and cut taxes.
SAT Clarifies Treatment of Land Appreciation Tax on Transfer of Certain Infrastructure
The State Administration of Taxation issued a tax circular late last month affirming that the transfer of certain infrastructure constructed on a piece of land is subject to land appreciation tax.
China Encourages Further Use of Foreign Capital
China’s State Council has recently approved proposals aimed at further liberalizing the use of foreign capital.
Update on CIT Incentives and Deductibles
Tax authorities clarified in June that corporate income tax incentives shall not apply to new business activities after a foreign company has already been granted an investment certificate.
New Regulations on Digital Signature Registration Released
India’s Income Tax Department has released new regulations on registering digital signatures for filing income tax returns effective beginning today.
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.
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