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Vietnam to Lift Ratio on Foreign Ownership to 49 Percent
Vietnam will soon raise the ceiling on foreign ownership in local businesses from 30 percent to 49 percent.
Taxpayers in China Required to Revise 2008 Corporate Returns
The State Administration of Taxation is requiring companies to revise their corporate income tax filing cycle for 2008 to reflect tax circulars issued after May 31, 2009.
India Considers Expanding Tax Refund Scheme
The Indian government is deliberating whether to expand the current coverage of its tax refund scheme to include export industries that have been severely affected by the global slowdown.
Ho Chi Minh City Included in Top Cities for Software Testing
– Strategic advisory firm, Tholons has included Ho Chi Minh City in its annual report of Top 6 Established Global Outsourcing Cities for Software Testing for the second year in a row.
New India Briefing Magazine Online: Investing in India
This issue examines the different sectors open to investment India, including roads, rail, airports, ports, telecommunications and power, and also reviews some of the investment vehicles and financing options available for public-private partnerships in India.
Tax Laws on Overseas Investment in Vietnam to be Revised
The Ministry of Finance in Vietnam is planning to revise tax laws to encourage more Vietnamese businesses to make overseas investments. The draft of the tax circular is pending official approval at the end of the year.
Dual Structure Proposed for Indian Goods and Services Tax
A dual goods and service tax (GST) structure has been proposed by the state that would allow for two rates for goods and one rate for services. The new GST regime is slated for implement on April 1, 2010 with the goal of streamlining taxation for the manufacturing and services industry.
VAT Rebate Tax Policy for China-Based R&D Institutions
The Ministry of Finance, General Administration of Customs and the State Administration of Tax have jointly issued a circular detailing the eligibility of tax exemption of imported equipment for foreign funded research and development centers in China.
Domestic Demand, Foreign Investment Reform to Spur Growth in India
In India, increased emphasis will now be placed on tapping the strong domestic demand to boost economic growth.