UK Seeks To Boost Investment In India
Feb. 19 – The United Kingdom’s Prime Minister David Cameron is in India this week on a trade mission to beat the drums for stronger trade links between the two countries, and to advocate the UK as India’s “partner of choice”. Prime Minister Cameron stressed the opportunities that an emerging Indian economy presents for the […]
Hiring Foreign Staff to Work in Vietnam
Feb. 19 – The number of foreign laborers coming to Vietnam for work has steadily increased in recent years, from 52,633 people in 2008, to 55,428 in 2009, and 56,929 in 2010. However, by September 2011, the number of foreign workers in Vietnam had surged to 78,440 people. A large portion of the foreign workers […]
An Overview of India’s Taxes on Business
Feb. 14 – In this article, we give a brief overview of India’s major taxes and duties on business, including Corporate Income Tax, Dividend Distribution Tax, Minimum Alternative Tax, Value-Added Tax, Central Sales Tax, Goods And Service Tax, Customs Duty, Excise Duty (CENVAT) Service Tax, Capital Gains Tax, Wealth Tax, and Withholding Tax. The central […]
As China Burns More Coal, India Needs More
Feb. 14 – Recent figures from the U.S. Energy Information Administration have revealed that China consumes almost as much coal as the rest of the world combined. Perhaps even more shocking, it has been estimated that India, who currently faces domestic shortages, could be importing as much coal as China by 2017. As the Asian […]
Update: Personal Income Tax Finalization for Foreigners in Vietnam
Feb. 12 – On January 15, the Vietnam General Department of Taxation issued Official Letter 187/TCT-TNCN (OL187) to provide guidance on the finalization of personal income taxes (PIT). Some of the key updates can be found below. 183 Day Rule Foreigners who work in Vietnam do not have to pay PIT if they spend fewer […]
Standard Chartered Bank Opens in Yangon
Feb. 7 – Standard Chartered Bank opened a representative office in Yangon, Myanmar yesterday, becoming the only major international bank to have an operating presence in all ASEAN member countries. The move comes 10 years after the bank withdrew its presence in the country following a 150-year tenure that began when the bank first established […]
ASEAN-India Free Trade Area Part I: Introduction
By Alex Tangkilisan Feb. 7 – The ASEAN–India Free Trade Area (AIFTA) is a free trade area consisting of the 10 member states of the Association of Southeast Asian Nations (ASEAN) and India. The initial framework agreement was signed in Bali, Indonesia, on October 8, 2003, and the final agreement was signed on August 13, […]
Malaysia-China Industrial Park to Open in Pahang
Feb. 6 – Malaysia – the first Southeast Asian nation to establish formal diplomatic ties with Communist China back in 1974 – has formally launched the first joint Malay-Sino industrial park in Kuantan, the state capital of Pahang Province. Pahang is Malaysia’s third-largest state, while Kuantan it is located roughly halfway up the east Malay […]
Qantas Repositions Key Asian Hubs, Plans Service Overhaul
Feb. 5 – Qantas, Australia’s largest airline, is currently overhauling its Asian strategy by featuring Singapore, Hong Kong and Bangkok as prominent regional hubs as part of its rescheduling of flight times. The strategy is initially aimed to boost Qantas’ penetration of Asia with better connections to flights on partner airlines, but has long term […]