News

For several years now, multinational companies with operations in one or more Asian countries have begun transitioning to an outsourced model for handling their payroll and HR administration. While already well-established in the U.S. and the UK, the cost-benefit of outsourcing is significantly less clear-cut in Asia.

Last week, the Sri Lankan Ministry of External Affairs issued a statement announcing that an agreement had been made between Sri Lanka’s Foreign Minister Prof. G.L. Peiris and China’s Vice-President Li Yuanchao to fast track negotiations to conclude the two countries’ joint free trade agreement.

Cyber-espionage is a real and growing threat to businesses and economies in Singapore. Some counter-measures can be taken by the private sector. But the government plays an important role in protecting its businesses from cyber-exploitation.

As Toyota Australia and Foxconn readjust their Asian manufacturing strategies, an interesting case can be made for the tale of two treaties: ASEAN & China, and Australia & the RCEP.

Understanding transfer pricing law in India is an important aspect of maintaining appropriate financial records and will be necessary come tax season. In this article, we outline the key points of India’s transfer pricing policy and their application to Associated Enterprises operating in India.

Chinese tourists spent almost SGD$1.52 billion (US$120 billion) in Singapore in the first half of 2013, according to figures released by the Singapore Tourism Board (STB). The tourism receipts, which excluded spending on sightseeing and entertainment, would have been even higher if these were factored in. Compared to the same period in 2012, tourism receipts from China grew by 25 percent — the largest increase of any country.

Individual income tax (IIT) rates and regulations vary considerably across Asia. In this article, we provide a comparative overview of IIT in China, Hong Kong, India, Singapore and Vietnam.

For the first time in five years, worldwide defense spending will increase. According to the current forecast, China is on track to outspend the UK, France and Germany combined by 2015, and Asia Pacific remains the only region with a steady increase in defense expenditures from 2009.

For several years now, the United States has been preparing legislation under the Foreign Account Tax Compliance Act (FATCA), a complex reporting and withholding regime intended to enable the U.S. to better access offshore accounts, investments and income of U.S. citizens who have failed to rigorously report these holdings. Despite several nations’ embrace of the FATCA, China has continued to delay negotiations with the U.S. Treasury over whether or not to allow Chinese financial institutions to report U.S. taxpayer or U.S. firm information to the United States Government.

Nielsen released the results of its quarterly Global Consumer Confidence Index on Wednesday, with Asia-Pacific being the only region highly bullish about product purchasing.