Tax & Accounting

What are the differences between “general invoices” and “special VAT invoices” in China? Aug. 16 – In China, invoices (or “fapiao” in Chinese) are more than just ordinary receipts. Contrary to other countries, where invoices are usually used simply to record a transaction, in China they are also the way in which the government monitors the […]

Jun. 28 – Mumbai may be on the way to overtaking Shanghai as a financial hub in the coming years based on data which shows that the Bombay Stock Exchange’s main index significantly outperformed the Shanghai Stock Exchange’s main index in terms of growth in the past decade. The Bombay Stock Exchange (BSE) traces its […]

Jun. 26 – The effective management of indirect taxes in rapid growth markets (RGMs) such as China and India is a primary concern for many multinational corporations (MNCs). An indirect tax is a tax levied on goods and services which is ultimately paid by the consumer in the form of a higher price. Two of […]

This edition of the China Tax Guide, updated for 2013, offers a comprehensive overview of the major taxes foreign investors are likely to encounter when establishing or operating a business in China, as well as other tax-relevant obligations. This concise, detailed, yet pragmatic guide is ideal for anyone looking to navigate the complex tax and accounting landscape in China in order to effectively manage and strategically plan their China operations.

May 13 – The United States (U.S.) is currently cooperating with Australia and the U.K. in an effort to expose global customers who fraudulently avoid their legal tax arrangements. The three countries’ respective tax agencies (the U.S.’ Internal Revenue Service (IRS), the UK’s HM Revenues and Customs (HMRC) and Australia’s Taxation Office (ATO)) have acquired […]

To help shed some light on payroll processing in India, in this article we discuss allowances (including housing and leave travel assistance) and the benefits of outsourcing payroll.

Apr. 29 – In an effort to boost investment in Vietnamese businesses and to support struggling enterprises, Vietnamese lawmakers have approved the Government’s proposal to reduce the current general corporate income tax (CIT) rate from 25 percent to 23 percent. In addition, CIT rates were set at a rate of 20 percent for small and […]

Apr. 29 – Individual income tax (IIT) is the direct tax paid on personal income by an individual or a company to the central government. The Indian Income Tax department is governed by the Central Board for Direct Taxes (CBDT) and is part of the Department of Revenue under the Ministry of Finance. In this […]

In this issue of China Briefing Magazine, we focus on the regulatory issues affecting cross-border M&As, and the key tax points foreign investors should be aware of when conducting M&As involving domestic Chinese companies. We also address the key aspects of transfer pricing, corporate restructuring exemption, and valuation as they relate to M&As.

Apr. 9 – While Hong Kong has been on a double taxation agreement (DTA) signing spree in the past few years, Singapore is the Asian queen of DTAs, boasting 69 comprehensive DTAs, roughly triple that of Hong Kong. In 2011 alone, Hong Kong’s DTAs with Austria, Ireland, Hungary, Liechtenstein, Japan, the Netherlands, New Zealand and […]