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Calculation of Maternity Benefits to Change in Dalian
In addition to amendments to the social insurance system in Dalian (explained here yesterday), the northeast city has also implemented an amendment to the maternity benefit policy.
Beijing FIEs Now Subject to Labor Union Fees
From July 2011, foreign invested enterprises (FIEs) in the pilot areas of Beijing (Dongcheng, Xicheng, Chaoyang, Mentoutou and Shunyi District) will be required to pay labor union fees, according to a recent announcement made by the Beijing Labor Union.
Foreign Accounting Firms See RO Registrations Cancelled
If a foreign accounting firm in China does not extend its representative office (RO) registration when it expires, the registration may face automatic cancellation by the Chinese authorities. Accordingly, a recent circular by the Ministry of Finance has just announced the cancellation of five foreign accounting companies’ RO registrations in China.
Shenzhen Specifies Taxable Project Filing Details for NREs
Shenzhen’s tax authority made a new announcement recently in order to better regulate tax collection from non-resident enterprises. The document underlines the taxable project filing obligations of non-resident enterprises as well as their related domestic partners, and clarifies relative filing details such as time limits.
Key Points: India’s Economic Outlook For 2011-2012
India’s Economic advisory council has released its outlook for the year 2011-12. Some vital points are given below:
Vietnam Commits US$48.8 Bln Towards Increasing Electricity Capacity
Vietnam’s Ministry of Industry and Trade recently announced that the country will be spending US$48.8 billion to help boost electricity generation capacity to meet the growing domestic demand.
One More Step towards FDI in India’s Multi-Brand Retail
Multi-brand retailing, perhaps the most vital issue of the new century in terms of FDI in India, has gone ahead by one more step. The top notch secretaries of the Indian government have forwarded 10 recommendations to the Commerce and Industry Ministry.
China Takes Anti-dumping Measures on Imported Photographic Paper
China has decided to impose temporary duties on photographic paper and paper-board imported from the European Union (EU), the United States and Japan for anti-dumping purposes. Starting from August 10, importers of those products have been required to pay a cash deposit at Chinese customs.
Tax Policy Clarification Released for China’s Western Region
On July 27, China’s National Bureau of Statistics, the Ministry of Finance, and the General Administration of Customs jointly published the “Circular on Issues Concerning Tax Policies for In-depth Implementation of Western Development Strategy” (Caishui [2011] No.58, “Circular”), effective from January 1, 2011.
China Clarifies Issues Related to New IIT Law
Following amendments to China’s Individual Income Tax (IIT) Law, which are scheduled to come into effect from September 1 this year, China’s State Administration of Taxation (SAT) made a new announcement on July 29 with regards to the revised IIT Law. The document specified how taxpayers will be subject to the old and new tax rates during different times of the tax year and how IIT on the income of individual businesses shall be calculated.
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