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Tax & Accounting

China Briefing

China Briefing

Cost Reduction Strategies in China – New Publication Out Now

09/12/2024

In this issue of China Briefing magazine, we delve into the most effective cost-reduction strategies observed in Chinese business practices, encompassing both immediate cost-saving measures and long-term approaches to boost operational efficiency and competitiveness.

China Briefing

Shenzhen Reopens GBA IIT Subsidy Applications for 2024

09/11/2024

The GBA IIT subsidy for foreign talents has officially kickstarted in Shenzhen. The city will accept relevant applications from May 15, 2024, to June 15, 2024.

China Briefing

Asia Transfer Pricing Brief: Q2 2024

09/09/2024

In our Asia Transfer Pricing Brief for Q2 2024, we present the latest updates and new guidelines on transfer pricing from Malaysia, Singapore, and the OECD.

China Briefing

China Monthly Tax Brief: August 2024  

09/04/2024

In this monthly China tax brief for August 2024, we spotlight policies and measures just announced or scheduled for implementation.

China Briefing

Tax Filing for Outbound Payments in China: A Complete Guide

08/28/2024

When an individual or organization in China makes a single outbound payment to overseas entities that exceeds the equivalent of US$50,000, the payer must complete tax filing for outbound payments with the local branch of the STA, with limited exceptions.

China Briefing

China’s New Circular Eases Taxpayer Relocation

08/27/2024

China’s State Taxation Administration will streamline taxpayer relocation from September 1, 2024, with proactive guidance, simplified procedures, and enhanced post-relocation services.

India Briefing

India Briefing

Capital Gains Tax in India: An Explainer

08/07/2024

In India, any profit or gain arising from the sale of a capital asset is deemed as capital gains and is charged to tax under the Income-tax Act, 1961. We discuss the latest changes to taxation of capital gains introduced under the Union Budget 2024.

India Briefing

Tax Dispute Resolution Scheme for Contractors in Government Procurement in India

08/06/2024

The Vivad se Vishwas, or VsV scheme, aims to reduce tax litigation in India by offering a simple, efficient mechanism for taxpayers to settle their disputes with tax authorities.

India Briefing

Effectiveness of Advance Pricing Agreements in India’s Complex Transfer Pricing Environment

08/06/2024

We discuss India's advance pricing agreement (APA) program, their sector-wise distribution, and usefulness amid a complex transfer pricing regime.

India Briefing

Old vs New Tax Regime in India: How to Choose the Right Tax Option

07/29/2024

We discuss the old and new tax regimes and the changes announced in the Union Budget 2024-25 to assist taxpayers in making an informed choice.

India Briefing

India to Abolish 2% Equalisation Levy on Non-Resident Digital Companies from August 1, 2024

07/24/2024

India will abolish the 2 percent equalization levy on a broad range of services provided by offshore technology firms from August 1, 2024.

India Briefing

India, U.S Extend Equalization Levy Deadline on E-Commerce Transactions

07/01/2024

India and the US agreed to extend the equalization levy on e-commerce until June 30, 2024, with the aim to maintain stability in digital business operations between the two countries.

Vietnam Briefing

Vietnam Briefing

Vietnam's Management of Duty-Incentivized Projects Following Ownership Changes: Latest Guidelines

09/12/2024

The new project owners will be considered the users of duty-exempt goods in Vietnam and are responsible for registering a list of these goods with customs authorities.

Vietnam Briefing

CIT Incentives for Software Production and High-Tech Companies in Vietnam

09/10/2024

Software production benefits include preferential tax rates and exemptions, while high-tech enterprises can access broader incentives like tax holidays and financial support under Decree 13.

Vietnam Briefing

Tax Audits for Representative Offices in Vietnam

07/23/2024

We discuss the key points of tax audits for Representative Offices in Vietnam, considering that these entities rely entirely on their parent companies without the ability to generate profits or enter into contracts independently.

Vietnam Briefing

Vietnam Tax Codes: An Explainer

07/16/2024

Vietnam’s tax codes identify taxpayers and determine tax liability. Here, we outline how to acquire them and explain their importance.

Vietnam Briefing

Vietnam’s Draft CIT Law: Changes to Incentives and Tax Liability

07/11/2024

Vietnam's draft Corporate Income Tax (CIT) Law proposes changes to incentive eligibility, taxation on capital transfers by foreign investors, and aims to address limitations hindering integration with international best tax practices.

Vietnam Briefing

Vietnam Government Extends 2% VAT Reduction on Specific Goods and Services till End of 2024

07/01/2024

The Vietnam government issued Decree 72/2024 on June 30 to extend the 2% VAT reduction on specific goods and services till the end of 2024.

ASEAN Briefing

ASEAN Briefing

Philippines Imposes New VAT Rate on Foreign Digital Services

09/08/2024

Explore how the Philippines' new 12% VAT on foreign digital services reshapes the market, affects consumers, and drives local industry growth.

ASEAN Briefing

Vietnam Extends VAT Cut Until 2024

08/01/2024

Vietnam's Decree 72/2024 extends the 2% VAT reduction on specific goods and services to the end of 2024, lowering operational costs and boosting economic growth for eligible sectors.

ASEAN Briefing

Electric Vehicle Imports in the Philippines Benefit from Expanded Zero-Tariff Rates

07/26/2024

The Philippines has extended its zero-tariff rates on EV imports, aligning with its commitment to develop a domestic electric vehicle market.

ASEAN Briefing

Singapore Could Grant Tax Rebates to Refineries for 2024-25

07/22/2024

Singapore’s refining hub faces new carbon taxes, but proposed rebates aim to sustain its competitive edge.

ASEAN Briefing

Audit and Compliance in the Philippines: A Guide for Foreign Investors

07/18/2024

The Philippines is modernizing its tax administration by simplifying compliance and introducing a 'file and pay anywhere' system for enhanced taxpayer convenience.

ASEAN Briefing

A Guide to Taxation in the Philippines - Updates for 2024

07/16/2024

The Philippines imposes a territorial tax system, meaning only Philippine-sourced income is subject to taxes.

Our firm Dezan Shira & Associates provides legal, tax and operational advisory across Asia.
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