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Greater Bay Area (GBA) IIT Subsidy Kicked Off in Shenzhen 2024

2024-05-27
The Guangdong-Hong Kong-Macao Greater Bay Area (GBA) individual income tax (IIT) subsidy for foreign talents working in the region has officially kickstarted in Shenzhen. The city will accept the GBA IIT subsidy application from May 15, 2024, to June 15, 2024.

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Vietnam Briefing

Foreign Contractor Tax in Vietnam: A Complete Guide

05/27/2024

Vietnam’s foreign contractor tax (FCT), often referred to as the withholding tax, is a tax that is applied to transactions conducted in Vietnam between a foreign company or sub-contractor and a Vietnamese company.

India Briefing

Reviewing India and Chile’s Expanding Economic Partnership

05/24/2024

India and Chile are expected to begin negotiations on a free trade agreement in 2024 in order to strengthen their bilateral economic relations following the general elections.

ASEAN Briefing

Philippines Passes CREATE MORE Act, Proposing Amendments to Tax Incentives

05/24/2024

On March 18, 2024, the Philippines House of Representatives passed a Bill amending the Corporate Recovery and Tax Incentives for Enterprises (CREATE) Act following the third reading.

Middle East Briefing

UAE Q4 2023 Prelim Data: Non-Oil Sectors Propelling 4.3% GDP Growth

05/24/2024

Preliminary government data for the fourth quarter of 2023 revealed a robust 4.3 percent year-on-year growth in the UAE’s economy, with non-oil sectors notably outpeforming in their contribution to the overall GDP.

India Briefing

Increase in Employment as Subscribers Under EPFO Grow to 14.5mn in FY2023-24

05/24/2024

Official employment figures for FY 2023-24 show increase in jobs in India as subscribers under the Employees’ Provident Fund Organization (EPFO) rose to 14.5 million from 13.8 million in the previous fiscal, marking a five percent increase.

China Briefing

April 2024 Economic Roundup – Industrial Output and Foreign Trade Continue to Spur Recovery

05/24/2024

China’s economy in April 2024 saw strong activity in supply-side sectors as industrial and manufacturing output surged. Meanwhile, foreign trade experienced a major rebound following a fall in March, with growth in imports reaching a year-long high.

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Middle East

Middle East Briefing

UAE Corporate Tax Incentives in Free Zones

05/27/2024

The UAE Federal Tax Authority offers detailed guidelines for businesses in free zones to qualify for a 0 percent corporate tax rate on specific activities, subject to meeting eligibility criteria and registration deadlines.

 

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It has been produced by Dezan Shira and Associates since 1999.

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