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China Clarifies Verification Standards for PIT after Equity Transfers
China is making an effort to generate clear standards for taxation basis verification with regards to personal income tax (PIT) derived from income gained through equity transfers.
Mongolia to Sort-Out Gold Mining Licenses
Mongolia’s government is reviewing a list of more than 1,700 mining licenses for possible termination under regulations aimed at environment protection, a senior official told reporters.
New Draft Proposal May Create Investment Barriers
Foreign investors fear that Vietnam’s draft proposal to develop its retail sector may, if enacted, erect barriers to invest from abroad.
Indian Employees May See Salary Hikes Next Year
A 2011 Times of India (TOI) salary level survey conducted by talking to multiple major HR consultancy companies forecasts salary growth in India next year to increase at a similar rate to what the country experienced in 2007, the time before the financial crisis.
China ROs to be Subject to Transfer Pricing Regulations During 2010 Audit
Representative offices in China may find themselves having to comply with China’s transfer pricing regulations for the first time in the upcoming annual audit period.
Using Double Tax Treaties to Maximize China Investment Effectiveness
Utilizing potential DTAs is something that needs to be discussed at the planning stage of any investment into China, as applications to government organizations such as customs and the tax bureau need to be made by the new entity in order to take advantage of the pertinent DTA.
Vietnam Central Bank Slashes Reserve Ratios for Some Banks that Lend to Agriculture
Vietnam’s Central Bank said Thursday that it was cutting the reserve ratios of five lenders that all have a large amount of capital loaned to the country’s agricultural sector.
Bill to Allow Options Trading, Commodity Derivatives Introduced
The Minister of State for Agriculture K.V. Thomas introduced in Lok Sabha on Monday a new bill that would allow trading in options in goods and would likely lead to the development of new commodity derivatives that will provide a wider set of opportunities to investors for risk management.
China Clarifies Method of CIT Calculation Derived from Capital Gains and Other Income
The State Administration of Taxation (SAT) issued the “Announcement on Corporate Income Tax (CIT) Treatment on Capital Gains and Certain Other Income Derived by Enterprises” (SAT Announcement [2010] No. 19) on October 27 to clarify the CIT calculation method with regards to income from capital gains and other avenues.
China Announces Public Holiday Arrangement for 2011
The State Council released the “Circular on Part of the Holiday Arrangement in 2011” (guobanfamingdian [2010] No.40) on December 9 with the official holiday schedule next year.
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