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Transfers of Natural Resource Use Rights Subject to Business Tax
China’s State Administration of Taxation (SAT) recently clarified the tax treatment towards transfers of natural resource use rights.
Dezan Shira Relocates Senior Personnel Out of China
Dezan Shira & Associates is relocating four senior management personnel from positions in China and redeploying them throughout Southeast Asia. The firm’s Founding Partner Chris Devonshire-Ellis will relocate from Beijing to Singapore to head up the firm’s Asian expansion and development, while Olaf Griese, partner in Shanghai, will move to Delhi to take up the […]
India to Loosen Restrictions on FDI into Broadcasting Services
The Government of India is planning to propose a hike in the maximum foreign direct investment (FDI) capital allowed in broadcasting services – such as direct-to-home (DTH) and cable TV – to a uniform portion of 74 percent.
India and Macau Sign Double Taxation Avoidance Agreement
To aid tax and banking-related information exchange and prevent tax evasion, India signed a double taxation avoidance agreement (DTAA) with Macau on January 1. The agreement will also help to generate a better investment climate for Indian businesses in Macau – a special administrative region of the People’s Republic of China and well-known offshore financial center and tax haven.
Shenzhen, Beijing Raise Minimum Wage Standards
On December 31, 2011, both Shenzhen and Beijing announced their new minimum wage standards for 2012. Following the adjustment, Shenzhen’s minimum wage standard will reach RMB1,500, the highest in the whole country.
Beijing Details Foreigners’ Mandatory Social Insurance Participation
Following the promulgation of a national decreeordering foreign employees’ mandatory participation in China’s social insurance system, Beijing recently issued its own implementation details in a bid to strengthen the enforcement of the new policy
China Specifies Services Eligible for Zero VAT Rate and VAT Exemption
The beginning of China’s pilot value-added tax (VAT) reform has aimed to make transport services and a list of modern services in pilot areas subject to VAT, instead of business tax. Recently, as a new update to the implementation details of the ongoing VAT reform, China’s Ministry of Finance (MoF) and State Administration of Taxation (SAT) clarified that some of these VATable services can enjoy zero VAT rate and VAT exemption.
India Allows 100% FDI in Single Brand Retail
The Indian government on Tuesday agreed to allow 100 percent foreign ownership in single brand retail stores, paving the way for international businesses such as Starbucks, Ikea and Adidas to operate independently in the country without having to involve local partners. Foreign single brand retailers were previously limited to 51 percent ownership.
Dezan Shira & Associates Raise USD12,000 For Care For Children China
Dezan Shira & Associates have raised USD12,000 for Care For Children China for 2011. The charity specializes in providing homes, education and medical treatment for orphans throughout the country. Web: www.careforchildren.com
Dezan Shira & Associates Win China Olympics Gold Medal Vest
Dezan Shira & Associates bid successfully for Chinesegold medal hurdler Lui Xiang’s signed 2004 Olympics Gold Medal 110 meter hurdles vest at a charity function to raise money for the 2008 Sichuan earthquake victims in Yushu, an ethnic Tibetan village that was completely destroyed. Lui’s Olympics Gold Medal was the first for China in a […]
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