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Proposed Law on Securities May Restrict Private Offerings
A proposal to make changes to the Law on Securities may restrict activity for private stock offerings as part of efforts to shield shareholders.
Online SEZ Applications to Begin in October
Companies wanting to establish units in special economic zones in India may begin applying online starting October as part of government efforts to cut down transaction costs and attract more business.
China SAT Issues Export Tax Refund Inspection Procedures
The Chinese State Administration of Taxation issued an announcement on August 30, outlining the processes by which enterprises may be subject to refund inspections.
Vietnam Issues Draft Decree on Retail Services
Vietnam’s Ministry of Industry and Trade released its draft decree on retail services last week tackling the Economic Needs Test (ENT), which acts to restrict foreign investment entry in the retail industry.
India Proposes New FDI Rules for Joint Ventures
Indian authorities are reconsidering rules on foreign direct investment for joint ventures in an effort to increase the inflow of new investment in the country.
FIE Internet Sales Operations Now Need Only Provincial Approval
The Ministry of Commerce amended the administration of foreign-invested internet sales enterprises last month, moving the approval and administration of such operations from the central government to the provincial governments.
Law on Commercial Arbitration Effective 2011
In June, Vietnam updated its law on commercial arbitration to give investors another option to resolve both contractual and non contractual disputes beginning January 1, 2011.
Staying Compliant with Updated CIT Rules in China
Hannah Feng, manager for Corporate Accounting Services at Dezan Shira & Associates, was a featured expert at the Spanish Chamber of Commerce in China’s “China Corporate Income Tax Update Seminar.”
Court Ruling: Overseas Payments Not Liable to Tax
India-based companies are not liable to deduct tax on overseas payments according to the latest Supreme Court on the subject.
Personal Income Tax Finalization for Expats
Expatriate employees leaving the country must finalize their personal income tax requirements within 45 days after the termination of their work contracts in Vietnam according to Circular 60/2007/TT-BTC.
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