Tax & Accounting

By Himanshu Joshi, Accounts Associate, Dezan Shira & Associates Mar. 8 – In order to provide small business owners relief from the tedious work of book keeping, auditing and compliance, sections 44AD and 44AE of the Income Tax Act 1961 allows an assessee to determine their income on a presumptive basis. This allows income to […]

Mar. 4 – The Minister for Finance delivered Singapore’s yearly budget to the Singapore Parliament last week. The main focus of the budget was to continue the process of restructuring Singapore’s economy by increasing the productivity of its workforce, reducing Singapore’s dependence on its foreign workforce and providing incentives to encourage local businesses to be […]

Mar. 1 – The Singaporean Government recently released its 2013 budget in which it revealed new measures totaling SG$5.9 billion aimed at helping businesses, facilitating investment and spurring further growth. Corporate income tax was a targeted issue, with the Government announcing that it would provide a 30 percent tax rebate on tax assessments during 2013-2015. […]

In this issue of China Briefing, we focus on the minutiae of trading with China – regardless of whether your business has a presence in the country or not.

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 […]

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 […]

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 […]

In this issue of India Briefing, we begin with an overview of India’s taxes on business, which includes a section on India’s double taxation avoidance agreements, and then discuss individual income tax rates and deductions.

Jan. 29 – The Vietnamese Ministry of Finance finished drafting its Corporate Income Tax Law last week in a plan to cut current rates from 25 percent down to 23 percent. Corporate income tax (CIT) rates have been adjusted several times over the past nine years: the 2003 CIT law of 2004 decreased rates from […]

This is the second article in a series dedicated to comparing the costs and ease of doing business in Vietnam and China from the standpoint of a foreign investor. By Rosario Di Maggio Jan. 22 – Many foreign investors operating in China today are looking at Vietnam as a sort of additional “province” or alternative […]