A Quick Glance at Singapore’s New Expat Regulations
Singapore has tightened the sponsorship criteria for dependants of foreign workers.
The new legislation, effective
from September 1, 2012, aims to restrict the rapid influx of dependants into Singapore and affects P1, P2, S pass
and Employment Pass holders.
Dependents of the...
Plus
A Quick Glance at Singapore’s New Expat Regulations Singapore has tightened the sponsorship criteria for dependants of foreign workers. The new legislation, effective from September 1, 2012, aims to restrict the rapid influx of dependants into Singapore and affects P1, P2, S pass and Employment Pass holders. Dependents of the overseas worker who are residing in Singapore since September 1, 2012 are not impacted. However, if a foreign worker has changed employer, lost the job or the validity period of the worker’s work pass had ended after September 1, 2012, the dependents of the foreign worker are subject to the revised regulations. Key highlights of Singapore’s new Expat Regulations: S Pass and Employment Pass holders will be eligible to sponsor parents, spouses and children, if they earn a minimum of 4000 Singaporean dollars P1 Pass holders can sponsor parents, spouses and children, but cannot sponsor parents-in-law P2 Pass holders can sponsor spouses and children, but cannot spo
Moins
Par Nandita Verma
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Publiée le 21 Nov. 2012
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What You Must Know About the Latest Argentine IFRS Update
Expanding your business into the Argentina market has tremendous potential, and the only way to know if your
business is ready is by doing a meticulous market research.
Companies doing business in Argentina, which has
recently adopted the International Financial Reporting...
Plus
What You Must Know About the Latest Argentine IFRS Update Expanding your business into the Argentina market has tremendous potential, and the only way to know if your business is ready is by doing a meticulous market research. Companies doing business in Argentina, which has recently adopted the International Financial Reporting Standard (IFRS), must now comply with the new requirements for information reporting and tax base calculation. The recently-released general resolution 3363 states that taxpayers subject to the IFRS and technical regulations (FACPCE - Federación Argentina de Consejos Profesionales de Ciencias Económicas) 26 and 29 must present the new information to the tax authorities (Administración Federal de Ingresos Públicos). The information required is for tax years ending on or after June 30, 2012. Taxpayers must provide the new documents in the month that follows the due date for filing the tax returns. However, certain exceptions are available for small and mediu
Moins
Par Nandita Verma
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Publiée le 21 Nov. 2012
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Lectures: 2
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Argentina Tightens Exchange Control Regulations; Impacts Employees Share Plans
(Sunnyvale, CA)- Argentina has restricted its residents’ ability to purchase foreign currency and remit funds outside
Argentina.
The new regulations, expected to stay in effect at least till 2014, impact the current employee share
purchase plans and the...
Plus
Argentina Tightens Exchange Control Regulations; Impacts Employees Share Plans (Sunnyvale, CA)- Argentina has restricted its residents’ ability to purchase foreign currency and remit funds outside Argentina. The new regulations, expected to stay in effect at least till 2014, impact the current employee share purchase plans and the ability of companies to offer news plans to local employees in Argentina. Here are the key highlights of these new exchange control regulations that are relevant for companies doing business in Argentina and especially to those dealing with employment law and employee benefits in Argentina. Resident companies and individuals cannot procure foreign currency for obtaining certain assets abroad including foreign company shares. Employers should be mindful that there are Argentina employment law implications to changing the terms of an employee’s compensation plan in view of the latest regulations. Because participation in a share plan is considered to be pa
Moins
Par Nandita Verma
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Publiée le 19 Nov. 2012
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Restructuring French Subsidiaries may Lead to Financial Liability for Larger Group
(Sunnyvale, CA)- In a string of recent decisions, the French Supreme Court has asserted that a parent company can be regarded
as the co-employer of its subsidiary’s employees and shares any liabilities that may arise from a restructuring process.
Here...
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Restructuring French Subsidiaries may Lead to Financial Liability for Larger Group (Sunnyvale, CA)- In a string of recent decisions, the French Supreme Court has asserted that a parent company can be regarded as the co-employer of its subsidiary’s employees and shares any liabilities that may arise from a restructuring process. Here are some highlights of the issue for companies doing business in France. Restructuring French Subsidiaries May Lead To Financial Liability For Larger Group In a recent case, employees were transferred between two subsidiaries of a French parent company after the parent moved the activities of the first subsidiary to the second one. Employees of the French subsidiary who refused the transfer were terminated and some of them subsequently went to a French labor court claiming damages from the subsidiary (their original employer) and the parent company that ordered the restructuring. The court took the view that there was “intermingling of interests, activi
Moins
Par Nandita Verma
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Publiée le 16 Nov. 2012
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Lectures: 1
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Vietnam Set To Increase Minimum Wages by 33%; Rise in Expenses for Businesses
(Sunnyvale, CA)- Vietnam has proposed to raise minimum monthly wage by about 33% leading to higher
operational costs for companies doing business in Vietnam.
The proposal aims to increase the minimum wage
range from the current $67-$96 per month to $89- $125...
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Vietnam Set To Increase Minimum Wages by 33%; Rise in Expenses for Businesses (Sunnyvale, CA)- Vietnam has proposed to raise minimum monthly wage by about 33% leading to higher operational costs for companies doing business in Vietnam. The proposal aims to increase the minimum wage range from the current $67-$96 per month to $89- $125 per month. The proposal is due to be implemented in March 2013 but if the sluggish economic climate persists the government may further delay the minimum wage hike to September 2013. The Vietnamese government proposed the hike after it found out that the current minimum wages cover only 60% of cost of living. Majority of local Vietnamese companies have supported the hike. For more information about Vietnam’s minimum wages, employment law or doing business in Vietnam please call or email us. For more information on this topic email media@nair-co. com Get the latest press releases and updates on international tax, HR, Finance, compliance and other leg
Moins
Par Nandita Verma
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Publiée le 16 Nov. 2012
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Notice to Implement Income Tax Provisions in Canada- What you Must Know
The Canadian government has tabled a Notice of Ways and Means Motion that will allow it to implement certain
tax provisions from the country’s Economic Plan 2012 and also certain other previously approved tax measures.
The motion seeks to implement provisions...
Plus
Notice to Implement Income Tax Provisions in Canada- What you Must Know The Canadian government has tabled a Notice of Ways and Means Motion that will allow it to implement certain tax provisions from the country’s Economic Plan 2012 and also certain other previously approved tax measures. The motion seeks to implement provisions for international taxation and personal and corporate income tax from the Economic Plan 2012. International Taxation provisions include: Measures to ensure that transfer pricing secondary adjustments are regarded as dividends for Part XIII withholding tax. Measures for enhancement of reliability and fairness of thin capitalization regulations. The thin capitalization rules are broadened to include debts of partnerships that have Canadian resident corporate partners, either directly or through multiple tiers of partnerships. Interest that is denied (under particular provisions) will be considered as a dividend and not as interest for the purposes of withho
Moins
Par Nandita Verma
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Publiée le 9 Nov. 2012
Pages: 2
Lectures: 1
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Argentina IFRS Update: New Requirements for Information Reporting and Tax Base
Calculation
(Sunnyvale, CA)- Companies doing business in Argentina, which has recently adopted the International Financial
Reporting Standard (IFRS), must now comply with the new requirements for information reporting and tax base
calculation.
The...
Plus
Argentina IFRS Update: New Requirements for Information Reporting and Tax Base Calculation (Sunnyvale, CA)- Companies doing business in Argentina, which has recently adopted the International Financial Reporting Standard (IFRS), must now comply with the new requirements for information reporting and tax base calculation. The recently-released general resolution 3363 states that tax payers subject to the IFRS and technical regulations (FACPCE - Federación Argentina de Consejos Profesionales de Ciencias Económicas) 26 and 29 must present the new information to the tax authorities (Administración Federal de Ingresos Públicos). The information required is for tax years ending on or after June 30, 2012. Taxpayers must provide the new documents in the month that follows the due date for filing the tax returns. However, certain exceptions are available for small and medium enterprises (SMEs). The new regulations also contain provisions for how to calculate the tax base for income, minimu
Moins
Par Nandita Verma
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Publiée le 8 Nov. 2012
Pages: 1
Lectures: 1
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Singapore Tightens Entry Rules; Dependents of Expat Workers Affected
(Sunnyvale, CA)- Singapore has tightened the sponsorship criteria for dependants of foreign workers.
The new
legislation, effective from September 1, 2012, aims to restrict the rapid influx of dependants into Singapore and
affects P1, P2, S pass and Employment Pass...
Plus
Singapore Tightens Entry Rules; Dependents of Expat Workers Affected (Sunnyvale, CA)- Singapore has tightened the sponsorship criteria for dependants of foreign workers. The new legislation, effective from September 1, 2012, aims to restrict the rapid influx of dependants into Singapore and affects P1, P2, S pass and Employment Pass holders. Dependents of the overseas worker who are residing in Singapore since September 1, 2012 are not impacted. However, if a foreign worker has changed employer, lost the job or the validity period of the worker’s work pass had ended after September 1, 2012, the dependents of the foreign worker are subject to the revised regulations. Key highlights of Singapore’s new Expat Regulations: S Pass and Employment Pass holders will be eligible to sponsor parents, spouses and children, if they earn minimum of 4000 Singaporean dollars P1 Pass holders can sponsor parents, spouses and children, but cannot sponsor parents-in-law P2 Pass holders can sponsor spou
Moins
Par Nandita Verma
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Publiée le 8 Nov. 2012
Pages: 1
Lectures: 2
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A Quick Glance at the Approval Procedure for Establishing Foreign NGOs in India
Starting a new business venture in a new country always involves striking the correct balance between cost and
risk.
Companies may incur losses or face unanticipated costs, if the start up period of a business in a new country is
unexpectedly delayed....
Plus
A Quick Glance at the Approval Procedure for Establishing Foreign NGOs in India Starting a new business venture in a new country always involves striking the correct balance between cost and risk. Companies may incur losses or face unanticipated costs, if the start up period of a business in a new country is unexpectedly delayed. Errors in the choice of the legal entity could mean serious tax and other liabilities for the parent company, while inadequate employment contracts could expose them to avoidable risks. Every country has different regulations for licensing taxes, compliance laws, data privacy, trademarking, etc. and prior to setting up a foreign operation it becomes necessary to be fully aware of the laws of that particular country. For those interested in establishing foreign non-government organizations in India, the Reserve Bank of India has clarified the approval procedure. Here’s a quick glance: The RBI has clarified the approval process for foreign non-government o
Moins
Par Nandita Verma
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Publiée le 5 Nov. 2012
Pages: 1
Lectures: 1
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What You must Know about India’s New Tax Residence Certificate Rules
Indian tax authorities have introduced new rules specifying the way Tax Residence Certificate (TRC) should be
submitted to claim reliefs under relevant tax treaties.
New Tax Residence Certificate Rules for Non-Residents
As per the new rules, the TRC obtained by a...
Plus
What You must Know about India’s New Tax Residence Certificate Rules Indian tax authorities have introduced new rules specifying the way Tax Residence Certificate (TRC) should be submitted to claim reliefs under relevant tax treaties. New Tax Residence Certificate Rules for Non-Residents As per the new rules, the TRC obtained by a non-resident in India from its home country must (along with the general requisites) include: The taxpayer’s residential status for taxation, The taxpayer’s address for the relevant period, and Its applicability period. New Tax Residence Certificate Rules for Residents The Indian tax authorities have prescribed a new application format which is to be submitted to the tax authorities to obtain a TRC, and have also provided a new format in which the TRC can be issued. A business consultant to simplify tax matters overseas When doing business overseas, it is essential to be familiar with the latest updates pertaining to tax and other regulations as incomplete
Moins
Par Nandita Verma
Document Adobe PDF
Publiée le 5 Nov. 2012
Pages: 1
Lectures: 1
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What You must Know about India’s New Tax Residence Certificate Rules
Indian tax authorities have introduced new rules specifying the way Tax Residence Certificate (TRC) should be
submitted to claim reliefs under relevant tax treaties.
New Tax Residence Certificate Rules for Non-Residents
As per the new rules, the TRC obtained by a...
Plus
What You must Know about India’s New Tax Residence Certificate Rules Indian tax authorities have introduced new rules specifying the way Tax Residence Certificate (TRC) should be submitted to claim reliefs under relevant tax treaties. New Tax Residence Certificate Rules for Non-Residents As per the new rules, the TRC obtained by a non-resident in India from its home country must (along with the general requisites) include: The taxpayer’s residential status for taxation, The taxpayer’s address for the relevant period, and Its applicability period. New Tax Residence Certificate Rules for Residents The Indian tax authorities have prescribed a new application format which is to be submitted to the tax authorities to obtain a TRC, and have also provided a new format in which the TRC can be issued. A business consultant to simplify tax matters overseas When doing business overseas, it is essential to be familiar with the latest updates pertaining to tax and other regulations as incomplete
Moins
Par Nandita Verma
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Publiée le 31 Oct. 2012
Pages: 1
Lectures: 1
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Canada Issues Notice to Implement Income Tax Provisions
(Sunnyvale, CA)- The Canadian government has tabled a Notice of Ways and Means Motion that will allow it to
implement certain tax provisions from the country’s Economic Plan 2012 and also other previously approved tax
measures.
The motion seeks to implement provisions for...
Plus
Canada Issues Notice to Implement Income Tax Provisions (Sunnyvale, CA)- The Canadian government has tabled a Notice of Ways and Means Motion that will allow it to implement certain tax provisions from the country’s Economic Plan 2012 and also other previously approved tax measures. The motion seeks to implement provisions for international taxation and personal and corporate income tax from the Economic Plan 2012. International Taxation provisions include: Measures to ensure that transfer pricing secondary adjustments are regarded as dividends for Part XIII withholding tax. Measures for enhancement of reliability and fairness of thin capitalization regulations. The thin capitalization rules are broadened to include debts of partnerships that have Canadian resident corporate partners, either directly or through multiple tiers of partnerships. Interest that is denied (under particular provisions) will be considered as a dividend and not as interest for the purposes of withholding t
Moins
Par Nandita Verma
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Publiée le 31 Oct. 2012
Pages: 2
Lectures: 1
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A Quick Glance at the Approval Procedure for Establishing Foreign NGOs in India
Starting a new business venture in a new country always involves striking the correct balance between cost and
risk.
Companies may incur losses or face unanticipated costs, if the start up period of a business in a new country is
unexpectedly delayed....
Plus
A Quick Glance at the Approval Procedure for Establishing Foreign NGOs in India Starting a new business venture in a new country always involves striking the correct balance between cost and risk. Companies may incur losses or face unanticipated costs, if the start up period of a business in a new country is unexpectedly delayed. Errors in the choice of the legal entity could mean serious tax and other liabilities for the parent company, while inadequate employment contracts could expose them to avoidable risks. Every country has different regulations for licensing taxes, compliance laws, data privacy, trademarking, etc. and prior to setting up a foreign operation it becomes necessary to be fully aware of the laws of that particular country. For those interested in establishing foreign non-government organizations in India, the Reserve Bank of India has clarified the approval procedure. Here’s a quick glance: The RBI has clarified the approval process for foreign non-government o
Moins
Par Nandita Verma
Document Adobe PDF
Publiée le 31 Oct. 2012
Pages: 1
Lectures: 0
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A Quick Glance at the FDI Reforms in the Broadcasting Sector in India
Encouraging economic growth, the government of India is liberalizing Foreign Direct Investment (FDI) in the
broadcasting sector.
Many countries are becoming more forward thinking in rolling out new measures or
extending current favors to help the economic growth....
Plus
A Quick Glance at the FDI Reforms in the Broadcasting Sector in India Encouraging economic growth, the government of India is liberalizing Foreign Direct Investment (FDI) in the broadcasting sector. Many countries are becoming more forward thinking in rolling out new measures or extending current favors to help the economic growth. Here’s a quick glance at the FDI reforms in the broadcasting sector The Cabinet Committee on Economic Affairs (CCEA) has liberalized the foreign investment policy for entities operating in the broadcasting sector, after reviewing the foreign investment proposal. Teleports: Direct to Home (DTH) and Cable Networks (National, State and District Level Multi-System Operators - MSOs undertaking network digitalization and addressability). The FDI limit has been increased from 49 % to 74 % with the following provisions: o An investment of up to 49 percent is allowed under automatic route. o Investment beyond 49 percent and up to 74 percent is allowed under the
Moins
Par Nandita Verma
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Publiée le 25 Oct. 2012
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Lectures: 1
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What You must Know about China’s Latest Visa Regulations
Foreign workers trying to procure a business visa for China now have to submit an invitation letter issued by a local
corporation or by the Chinese authorities along with other requisites.
The new requirement, in effect since August 2012, requires that the invitation letter:...
Plus
What You must Know about China’s Latest Visa Regulations Foreign workers trying to procure a business visa for China now have to submit an invitation letter issued by a local corporation or by the Chinese authorities along with other requisites. The new requirement, in effect since August 2012, requires that the invitation letter: Is issued by a duly authorized unit or a “Confirmation Letter of Invitation” by an authorized Chinese agency, or Is issued by the Chinese local governments, companies, corporations and institutions. The invitation letter issued by the Chinese companies, corporations and institutions need to be in a specific format and must include: Applicant s Personal Information: Name, gender, date of birth, passport number, nationality, full company name and exact designation of the employee in the company. Business Tour Details: Purpose of the visit, name of the province, arrival and departure date, relationship between the Chinese and US entity or relationship
Moins
Par Nandita Verma
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Publiée le 25 Oct. 2012
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Lectures: 1
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A Quick Glance at the Canada-China Foreign Investment Promotion & Protection Agreement
With every country having different regulations for licensing taxes, compliance laws, and for data privacy, it is
important to be fully aware of the laws of that particular country before setting up a foreign operation.
To protect
investors from...
Plus
A Quick Glance at the Canada-China Foreign Investment Promotion & Protection Agreement With every country having different regulations for licensing taxes, compliance laws, and for data privacy, it is important to be fully aware of the laws of that particular country before setting up a foreign operation. To protect investors from arbitrary government actions, the Governments of Canada and China have signed a bilateral investment treaty. Specific provisions of the treaty will be announced once it gets approved by the parliaments of both the countries. The Canada-China Foreign Investment Promotion and Protection Agreement (Canada-China FIPA) may include the following provisions: A transparent process for issuing decisions or making laws that can affect investments and investors; Facility for easy transfer of funds generated from investments; Compensation against expropriation of investments; In line with the international regulations, investments will be accorded with a minimum globa
Moins
Par Nandita Verma
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Publiée le 17 Oct. 2012
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What You must Know about Foreign Direct Investment Reforms in Multi Brand Retail Trade in
India
The Government of India is liberalizing Foreign Direct Investment (FDI) in various sectors for economic growth.
As
indicated by the government, the reforms in multi-brand retail trade, single brand retail trade, civil aviation and...
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What You must Know about Foreign Direct Investment Reforms in Multi Brand Retail Trade in India The Government of India is liberalizing Foreign Direct Investment (FDI) in various sectors for economic growth. As indicated by the government, the reforms in multi-brand retail trade, single brand retail trade, civil aviation and broadcasting sectors will encourage foreign investments and increase growth. A limit of 51% FDI in multi-brand retail has been allowed; FDI of up to 49 % in scheduled and non-scheduled air transport services has been approved; other radical reforms in the single brand retail trade and broadcasting sector have also been approved to rope in more capital for radical economic growth of the country. Key Highlights: Foreign Direct Investment Reform: Multi Brand Retail Trade Approval for up to 51% FDI in multi-brand retail has been given, but the state governments have the liberty to make a final decision. As per the approved regulations, retail stores may be allowed
Moins
Par Nandita Verma
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Publiée le 17 Oct. 2012
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China Business Visa Update: Applicants must Submit Invitation Letter
(Sunnyvale, CA)- Foreign workers trying to procure a business visa for China now have to submit an invitation letter
issued by a local corporation or by the Chinese authorities along with other requisites.
The new requirement, in effect since August 2012, requires...
Plus
China Business Visa Update: Applicants must Submit Invitation Letter (Sunnyvale, CA)- Foreign workers trying to procure a business visa for China now have to submit an invitation letter issued by a local corporation or by the Chinese authorities along with other requisites. The new requirement, in effect since August 2012, requires that the invitation letter: is issued by a duly authorized unit or a “Confirmation Letter of Invitation” by an authorized Chinese agency, or is issued by the Chinese local governments, companies, corporations and institutions. The invitation letter issued by the Chinese companies, corporations and institutions needs to be in a specific format and must include: Applicant s Personal Information: Name, gender, date of birth, passport number, nationality, full company name and exact designation of the employee in the company. Business Tour Details: Purpose of the visit, name of the province, arrival and departure date, relationship between the Chinese and US
Moins
Par Nandita Verma
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Publiée le 15 Oct. 2012
Pages: 1
Lectures: 1
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