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New Regulations for Resident Representative Offices in China
China’s State Council recently issued new regulations to “strengthen” the administration of resident representative offices (ROs) of foreign enterprises in China. These regulations affect foreign investors setting up representative offices in China, as well as ROs already established on the mainland.
PM Calls for Regular Submission of Statistical Reports
Vietnam’s prime minister has approved a new regulation that will make it mandatory for state-owned enterprises (SOEs) and foreign invested companies and projects to issue regular statistical reports.
India Issues ‘Project Visa’ for Foreign Workers in Power and Steel Sectors
The Indian government has recently introduced a new type of visa – the “P” (Project) Visa – within the employment visa regime for foreigners who come to India for the development of projects in power and steel sectors. Currently the new visa does not apply to foreign employees in other sectors.
Enterprises Can Enjoy Tax Deductions by Recruiting the Unemployed
China’s new taxation policy to improve the country’s unemployment situation is going to take effect next year. Enterprises that meet certain criteria will be able to receive tax deductions through recruiting unemployed individuals that meet the standards listed in the related circular.
Dezan Shira & Associates Expands Ho Chi Minh Office
In February 2011, Dezan Shira & Associates will expand their Ho Chi Minh office and recruit additional personnel to cater for an increase in foreign direct investment.
Hanoi to Boast 11 New Industrial and High Tech Zones in Next Five Years
Plans have been laid to create 11 new industrial zones and high tech parks in the Vietnamese capital of Hanoi over the next five years in a bid to attract further domestic and foreign investment, Nguyen Xuan Chinh, head of the Hanoi Industrial and Export Processing Zone Management Board, said on Thursday.
China Signs Tax Information Exchange Agreement with Bermuda
China recently signed a tax information exchange agreement (TIEA) with another tax haven, Bermuda, following the TIEA signing with the British Virgin Islands last year. The growing number of TIEAs signed by China show the country’s strong determination to curb capital flight.
Vietnamese Commercial Banks Increase Interest Rate for Deposits, Lending
Several Vietnamese commercial banks increased interest rate returns on dong deposits to 13 percent per year, as well as offered other incentives to attract new customers and retain existing ones.
India Sees 40% Rise in September FDI Inflows
Bucking a three-month trend of declining foreign direct investment inflows, India received US$2.11 billion in FDI in September, good for a 40 percent rise over the same month last year, according to an official from the industry ministry.
China’s New Round of Tax Policy Reforms to Target VAT and Personal Income Tax
China is planning to accelerate its taxation policy reform that focuses on economic development mode transformation and income gap reduction.
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