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  April 17, 2014
Brazil Increases PIS and COFINS Taxable Bases
Brazil recently introduced significant changes to its tax legislation. As per the new legislation, the definition of corporate revenue has been amended. This may have a s...

  April 16, 2014
United Kingdom Announces New Fuel Rates for Company Cars
The United Kingdom has recently announced new advisory fuel rates for company car drivers effective from 1 March 2014. These rates are set by HM Revenue & Customs (HM...

  April 15, 2014
Spanish Government Introduces New Tax Measures
The Spanish Government recently announced new tax reforms with specific measures to stimulate employment. These new measures were announced by the President of Government...

  April 14, 2014
Netherland Companies MUST Discloses Executive Pay to Works Councils
The Cabinet of the Netherlands has approved Minister of Social Affairs and Employment’s proposal to publish management salaries of companies with more than 50 employees. ...

  April 11, 2014
Italy Introduces Web Tax Legislation
The Italian Parliament has passed a new tax regulation as part of the 2014 Budget Bill (Legge di Stabilità 2014).Under the new regulation foreign companies must obtain a ...

  April 10, 2014
China Mandates Annual Corporate Reporting in Shanghai’s Free Trade Zone
China recently announced that companies operating within Shanghai’s “Pilot”Free-trade Zone must publish certain business information. Entities that fail to comply with th...

  April 09, 2014
New Zealand Introduces New Financial Reporting for Certain Companies
The New Zealand government has issued minimum and simplified financial reporting requirements for small to medium-sized companies not subjected to the Financial Reporting...

  April 08, 2014
Chilean Government Plans Tax Reforms for Small and Medium Enterprises (SMEs)
Chile plans to introduce a new tax regime ultimately benefiting Small and Medium Enterprises (SMEs). This aligns with the new president’s election campaign programme whic...

  April 07, 2014
Czech Republic Proposes New Tax Measures
The Czech governmenthas proposed new tax measures including some directed at reducing tax evasion and avoidance. These new measures were published by the Ministry of Fina...

  April 04, 2014
India Enacts Further sections of the Companies Act, 2013
With reference to the effectiveness of India’s new Companies Act, 2013, the Ministry of Corporate Affairs (MCA) has further notified 183 sections and schedules. The newly...

  April 03, 2014
Malaysia Launches Immigration E-Filing System
The Malaysian Immigration Department (MID) launched a new electronic filling web portal (for online submission of employment pass applications) on 10 March 2014. This por...

  April 02, 2014
United Kingdom Introduces Immigration Changes: Update from Nair & Co.’s Global HR Team
The United Kingdom has announced changes to the Visa and Immigration Point-Based system and introduced new rules which involve the application processes of Tier1, Tier 4 ...

  March 28, 2014
Luxembourg Raised Minimum Salary Threshold for Blue Card Holders
The Ministry of Employment of Luxembourg has raised the minimum salary threshold for Blue Card holders. As per the new threshold, it is necessary for the blue card holder...

  March 27, 2014
India Amends Documentation and Registration Requirements for Foreign Workers in Hyderabad
Multinationals operating in Hyderabad, India, are now subject to new documentation requirements for foreign workers’ registration and extension applications filed with th...

  March 26, 2014
Argentine Government Introduces Withholding Tax on Exports
The Argentine Tax Authority (AFIP) introduced legislation under which a Withholding Tax of 0.5% will be charged on all triangular exports carried out on or after 7 Januar...

  March 25, 2014
Vietnam Amends Tax, Labour and VAT Regulations
Vietnam has recently issued a slew of amendments to tax, labour and Value Added Tax (VAT) provisions. Companies operating in nearby areas with different regional minimum ...

  March 24, 2014
India Announces New Corporate Social Responsibility Rules
India has recently introduced legislation mandating the establishment of Corporate Social Responsibility (CSR) policies for both Indian companies as well as foreign compa...

  March 21, 2014
United Kingdom – Budget 2014 Announced: Update from Nair & Co.’s International Tax Team
The Chancellor of the Exchequer recently presented the Budget for 2014-15. Significant measures include those for investment, savers, retirement and small & medium en...

  March 20, 2014
United Kingdom Confirms the Introduction of Shared Parental Leave: Update from Nair & Co.’s International HR Services Team
The Government of the UK has announced plans to introduce a new shared parental leave system for local workforce starting April 2015. The purpose of the proposal is to pr...

  March 19, 2014
Brazil: New Decision on Transfer Pricing Policy: Update from Nair & Co. International Tax Team
The Brazilian tax authority (Receita Federal do Brazil—RFB) recently presented a new decision allowing taxpayers to adjust their transfer pricing policies. As a result, m...

  March 18, 2014
Ukraine Tightens Data Protection with New Law
Ukraine recently announced the adoption of new data protection regulations. This new legislation introduces a number of landmark changes in the Ukrainian data protection ...

  March 14, 2014
South Africa - 2014 Budget Announced: Update from Nair & Co.’s International Tax Team
The South African Finance Minister has recently presented the Budget for 2014. Significant measures include those for education, health and spending programmes as well a...

  March 13, 2014
Hong Kong Announces Budget for 2014/2015
The Financial Secretary of Hong Kong has officially presented the 2014/15 Budget. Among the areas addressed are corporate and personal taxes, social security and incentiv...

  March 12, 2014
Philippines Introduces New Permit for 9(g) Pre-arranged Employment Visa Applicants
The Philippines' Department of Labor and Employment (DOLE) has introduced a new permit applicable only for the foreign nationals applying for 9(g) Pre-arranged Employment...

  March 11, 2014
Australia Eliminates Sponsorship Limits on Subclass 457 Visas
The Australian Department of Immigration and Border Protection (DIBP) has recently eliminated the sponsorship limits on subclass 457 visas. As per the new policy, employe...

  March 07, 2014
Germany Issues New Guidelines on Personal Data Used for Advertising
New guidelines related to the collection and usage of personal data for advertising purposes were published by a German data protection working group that was established...

  March 06, 2014
Israel Announces Work Permit for Short Term Employment
As per a recent informal announcement made by the Israel Work Permit Unit, experts and managers from countries that have signed an agreement with Israel are now allowed t...

  March 05, 2014
France Launches New Centralized Transfer Pricing Program - Mission d’expertise juridique et économique internationale (MEJEI)
French Tax authorities recently launched a new transfer pricing program - Mission d’expertise juridique et économique internationale (MEJEI). This program will be jointly...

  March 03, 2014
Argentina Clarifies Income Tax Provisions - Update from Nair & Co.
Argentina has, during the recent past, published amendments to income tax provisions. Certain clarifications have been recently issued relating to these amendments. These...

  February 28, 2014
Italian Government Introduces Withholding Tax on Inbound Wire Transfers
The Italian government recently introduced legislation ordering all banks to withhold 20% on certain inbound wire transfers. The inbound wire transfers affected include i...

  February 27, 2014
Singapore Announces Budget 2014: Update from Nair & Co. International Tax Team
Singapore recently presented the 2014 budget, which highlights provisions related to introduction of Productivity and Innovation Credit (PIC) Scheme for Small and Medium ...

  February 26, 2014
Austria Proposes Budget 2014: Update from Nair & Co. International Tax Team
A Provisional Budget for 2014 has recently been presented by the Vice Chancellor and Finance Minister. The budget includes provisions with regards to group tax regulation...

  February 25, 2014
Netherlands Introduces New Work Permit Regulations for Foreign Employees: Update from Nair & Co. International HR services
The Netherlands has amended the Foreign Nationals (Employment) Act with changes effective 1 January 2014. The amendment mainly affectswork permits norms for applicants f...

  February 24, 2014
China Eases Tax Exemption for E-commerce
The Chinese Finance Ministry (MOF) and the State Administration of Taxation (SAT) have recently published a joint circular announcing easier eligibility requirements for ...

  February 21, 2014
Belgium Plans New Tax Rules for Expatriates
The Belgian government has issued draft regulations to modify the rules for calculating non-resident personal income tax for expatriates. Companies in Belgium that have e...

  February 20, 2014
Chile Mandates E-invoicing System: Update from Nair & Co. International Tax Compliance Services Team
The Chilean government has made it mandatory for all businesses to follow the e-invoicing system effective 31 January 2014. The new measure’s aim is to reduce manual pape...

  February 19, 2014
Japan Plans to Double Consumption Tax Rate by 2015: Update from Nair & Co. International Tax Team
Japan has proposed to introduce new reduced Consumption Tax (VAT) Rate for basic goods, in an effort to assuage the impact of the planned tax rate to 10% by 2015. The inc...

  February 18, 2014
Belgium Raised Quarterly VAT Return Thresholds: Update from Nair & Co.’s International Tax Advisory Team
Effective 1 January 2014, the Belgian tax administration established new thresholds for filing quarterly VAT (Value Added Tax) returns. As per the new thresholds, annual ...

  February 17, 2014
India issues Interim Budget: Other than Excise Duty, Taxes remain unaltered: Update from Nair & Co. Tax Team
India has today (February 17, 2014) issued an interim Budget for 2014-15. Being an interim Budget, there are no proposals seeking to amend direct tax provisions, nor are ...

  February 13, 2014
Belgium Introduces Changes to Employment Law Regulations
Belgian Official Gazette recently published a new employment regulation outlining employment termination notice periods for both blue and white collar employees,effective...

  February 12, 2014
Spain 2014 Budget Now in Effect: Update from Nair & Co. Tax Team
The 2014 Budget published by the Spanish government is now applicable as of 1 January 2014. The budget includes a long-term strategy targeting employee training, advance ...

  February 11, 2014
Poland Amends VAT Regulations: Update from Nair & Co. International Tax Services Team
Poland has recently enacted most important VAT amendments which were previously approved in the year 2012. The new provisions are intended to reducing the tax burden, mod...

  February 10, 2014
Singapore Introduces Labour Market Testing Process before Hiring Foreign Employees: Update from Nair & Co.’s International Human Resources Team
As a part of its Fair Consideration Framework, Singapore’s Ministry of Manpower (MoM) will impose labour market testing requirements on employers. The new regulation will...

  February 07, 2014
Indonesia Sets New Rules for Social Security
Starting January 2014, the government of Indonesia has introduced a new social security system and made it mandatory for all Indonesian citizens, resident employees and n...

  February 06, 2014
Lithuania Updates Corporate Income Tax Loss Carry Forward Provisions
Lithuania recently implemented changes to the company income tax (CIT) law, amending changes pertaining to carry forward of losses. Per the altered provisions, entities m...

  February 05, 2014
Chile Releases Ceilings for 2014 Social Security Contributions
Effective 1 January 2014, the Chilean Taxation Office increased the limits related to social security contributions and employment tax withholding. Companies with operati...

  February 04, 2014
India Issues New Requirements for Permanent Account Numbers (PAN)
New procedure issued by the Central Board of Direct Taxes (CBDT) for obtaining PAN card will soon enter into force in India. The new measures aim to reduce the number of ...

  February 03, 2014
Germany Updates Minimum Salary Qualifications for EU Blue Card Holders
The German government has raised the minimum salary qualifications under the Blue Card Program. Effective 1 January 2014, the minimum gross salary for first-time EU Blue ...

  January 30, 2014
Portugal Amends Income Tax Law: Update from Nair & Co. International Tax Team
The Portuguese government recently approved the Corporate Income Tax (CIT) reform. The key elements of the reform offer simplification, increasedcompetitiveness and decre...

  January 29, 2014
Nair & Co. Publishes 2014 International Tax Filing Deadline Calendar
Nair & Co., an international business expansion solutions provider, today announced that it has published its 2014 International Tax Filing Deadline Calendar intended...

  January 28, 2014
United Kingdom Introduces New Process to collect Outstanding Unpaid Class 2 National Insurance Contributions
UK: effective starting April 2014, new rules will be introduced permitting HM Revenue and Customs (HMRC) to collect unpaid Class 2 National Insurance Contributions (NICs)...

  January 24, 2014
India Tautens Hiring Rules for Foreign Employees: Update from Nair & Co.’s International Human Resources Team
After Bengaluru,Hyderabad and Kochi, India’s Foreign Regional Registration Office (FRRO) in Chennai has been imposing labour market testing requirements in a discretionar...

  January 23, 2014
United Kingdom Increases Car and Van Benefits Limits for Employees: Update from Nair & Co. International HR services
United Kingdom has recently announced changes concerning certain employee benefits with effect from 6 April 2014. The changes amend values used for calculating certain “i...

  January 22, 2014
Canada Mandates Reporting Income Earned from Websites: Update from Nair & Co. International Expansion Team
The Canadian government introduced a new Schedule to seek information on income from Internet Business Activities, as a part of the Corporation Income Tax Return making ...

  January 21, 2014
Australia Issues Draft Taxation Rules on Permanent Establishments: Update from Nair & Co. International Tax Services Team
The Australian Taxation Office (ATO) has issued draft taxation rules on permanent establishments, inviting comments from the public. The draft issue clarifies that Busine...

  January 20, 2014
Australia Increases Super (Superannuation Guarantee), the Required Employer Retirement Contribution Rate: Update from Nair & Co. HR Team
The Australian government has announced significant changes to the Super regime. Super contributions will eventually increase to 12% by 2020. Super refers to the funds ar...

  January 17, 2014
Sweden Introduces Reduced Social Security Contributions for R&D Employees: Update from Nair & Co. International HR Services Team
Effective 1 January 2014, Swedish Riksdaghas instatednew regulation which permits business entities operating in Sweden and engaged in research or development activities ...

  January 16, 2014
India’s New Sexual Harassment Law for the Workplace: Update from Nair & Co. Human Resources Team
A new law for the protection of women against sexual harassment at the workplace recently entered into force in India. The main objective of the new legislation is to pro...

  January 15, 2014
China Amends Company Law Provisions: Update from Nair & Co. International Compliance Team
China’s National People’s Congress approved recent modifications suggested under the company law of the People's Republic of China (PRC). Announced on 28 December 2013, C...

  January 14, 2014
Brazil Raises Withholding Tax Thresholds for Employee Profit-Sharing Plans: Update from International HR Services Team of Nair & Co.
The employee profit-sharing plan (participação nos lucros ou resultados, PLR) related tax withholding thresholds in Brazil have recently been modified, applicable 1 Janua...

  January 13, 2014
Argentina Includes New Business Activities in Mandatory E-invoicing System: Update from Nair & Co. International Tax Compliance Services Team
The Argentine Federal Tax Authority (AFIP) has established changes to existing rules on mandatory e-invoicing effective 18 December 2013 (as published in the Official Gaz...

  January 10, 2014
Argentina Issues New Guidelines concerning “Related Parties Register”
New measures issued by the Argentine Federal Tax Authority (AFIP) entered into force on 3 January 2014. The new measures intend to create a “Register of Related Parties”...

  January 09, 2014
Brazil Launches Program to Verify Employees Details
The Brazilian government has launched the preliminary phase of the electronic registration program under which business entities are asked to submit social identification...

  January 08, 2014
Dubai Mandates Health Insurance for all National and Foreign Employees
Dubai’s new health insurance law mandates that employers provide health insurance to both Foreign and United Arab Emirates (UAE) national employees working in Dubai. The ...

  January 07, 2014
The French Government Announces Tax Reforms for 2015: Update from Nair & Co. International Tax Team
France has announced plans to reform the tax system in 2015. Changes are likely to fuse personal income tax with the generalized social contribution (CSG). Interestingly,...

  January 06, 2014
Japan Lowers Corporate Tax to Boost Economy in its 2014 Tax Reform Proposal: Nair & Co. International Tax Consulting Team
The ruling parties of Japan have proposed changes to the effective Corporate Tax Rate on account of abolishment of the special reconstruction surtax, as part of the 2014 ...

  January 03, 2014
Protocol Amending the Double Taxation Agreement between UK and China: Update from Nair & Co.’s International Tax Team
In an expected move, the Protocol to the Double Taxation Agreement between the UK and China recently entered into force on 13 December 2013. The provisions of the protoco...

  January 02, 2014
Mauritius Strengthens Substance Requirements: Update from Nair & Co. International Expansion Services Team
 In recent changes Mauritius has put in place safeguards for global business companies to minimize the perception that the country is used as a route for avoiding ta...

  December 24, 2013
Netherlands Published Third Draft Bill altering Tax Plan 2014: Update from Nair & Co. International Tax Team
Netherlands recently passed a third amendment to the Tax Plan 2014, reports Nair & Co.’s International Tax Team. The amendment includes reduction in the social securi...

  December 23, 2013
Vodafone Transfer Pricing Case: Indian Income tax department demands tax of Rs 3700 crore
Vodafone has received a tax bill of Rs 3,700 crore from the Income Tax Department of India against the recent transfer pricing case. This bill includes the unpaid dues an...

  December 20, 2013
Russia explains the benefits of electronic document management: Update from Nair & Co. International Tax Team
The Russian government has issued details of a new electronic document management system, reports Nair & Co.’s International Tax Team. Effective 1 January 2014, payer...

  December 19, 2013
Canada Introduces Economic Action Plan 2013 Act #2: Update from Nair & Co. International Tax Team
The Canadian Minister of Finance recently introduced the Economic Action Plan 2013 Act in an effort to stimulate the economy and job creation, reports Nair & Co. Inte...

  December 18, 2013
Taiwan - Recent Practices Suggest Changes to Transfer Pricing Audit related Requirements: Update from Nair & Co. International Tax Team
Recent reports out of Taiwan suggest changes to transfer pricing audits. Taiwanese tax authorities have expressed concern about the relevance of implementing an aggregat...

  December 17, 2013
China Clarifies Enterprise Income Tax incentive for Technology Transfers: Update from Nair & Co. International Tax Team
The Chinese State Administration of Taxation (SAT) recently issued clarification on the definition of income from transfer of technology by resident companies. Incom...

  December 16, 2013
Polish Government Reviewing Provisions governing Taxation of Benefits-in-kind: Update from Nair & Co. International Tax Team
The Polish Supreme Administrative Court recently asked the Constitutional Tribunal to clarify an issue pertaining to taxation of employer offered benefits-in-kind to empl...

  December 13, 2013
Autumn Statement 2013: the UK Government's Plans for the Economy, update from Nair & Co. International Tax Team
The UK’s Chancellor of the Exchequer recently presented the Autumn Statement to Parliament. A majority of the provisions outlined in the Statement will be effective start...

  December 12, 2013
Canada Releases Ceilings and Rates for Pension Contribution for 2014: Update from Nair & Co. HR Team
The Canadian government has announced an increase in the maximum pensionable earnings under the Canadian Pension Plan (CPP). The rate for 2014 will increase by about 3 pe...

  December 11, 2013
Belgium Changes Withholding Tax Rates: Update from Nair & Co. International Tax Team
The Belgian government has decided to reduce the rate of withholding tax on dividends paid by small- and medium-sized enterprise (SME) to 15 or 20 percent, depending on c...

  December 10, 2013
India Reviews Privacy Protection Regulations: Update from Nair & Co. International Expansion Services Team
 Indian authorities including Center for Internet and Society (CIS), the Federation of Indian Chambers of Commerce and Industry (FICCI) and the Data Security Council...

  December 09, 2013
Sweden clarifies Permanent Establishment (PE) provisions in an Advance Ruling: Update from Nair & Co. International Tax Services Team
In a recent advance ruling, the Swedish Council for Advance Rulings has clarified rules regarding permanent establishment (PE) status for a foreign company. The clarifica...

  December 06, 2013
China to ease Company Set Up Norms and Requirements: Update from Nair & Co. International Expansion Team
The Chinese government is likely to approve reforms related to its corporate laws in an effort to decrease the hassles involved in setting up a new business. These new r...

  December 05, 2013
Mexico Approves Tax Reform Package for 2014: Update from Nair & Co. International Tax Team
The Mexican Chamber of Deputies recently approved a tax reform package enacting a new Income Tax law and changing various important provisions, outlined below. These chan...

  December 04, 2013
Netherlands Presents an Amended Budget for 2014: Update from Nair & Co. Tax Team
The Dutch government has presented an amended budget to the parliament altering important provisions regarding tax rates, tax credits and payroll taxes. The key highlight...

  December 03, 2013
Netherlands Rescinds Annuity-related Benefits for Severance: Update from Nair & Co. HR Team
Netherlands under its Tax Plan 2014 has repealed two annuity regulations concerning employee severance - the “annuity exemption” and the obligation to disburse installmen...

  December 02, 2013
Malaysia Proposes 2014 Budget: Update from Nair & Co. International Tax Team
The Government of Malaysia has presented its budget for 2014 proposing replacement of Sales and Service tax with a Goods and Services Tax (GST). If passed, the GST will b...

  November 29, 2013
Czech Senate accepts amendments to Income Tax Law: Update from Nair & Co. International Tax Team
The Czech Senate recently approved a special law measure to amend the Income Tax Law. For this amendment to be enacted, it needs to be rectifies by a new Chamber of Deput...

  November 28, 2013
Austria Likely to Introduce Reverse Charge Tax Rules to Combat VAT Fraud: Update from Nair & Co. International Tax Team
The Austrian Minister for Finance, Maria Fekter recently announced plans to combat Value Added Tax (VAT) fraud. The Austrian government is expected to introduce a reverse...

  November 27, 2013
Spain Introduces New VAT Cash Accounting Scheme and Changes to certain VAT Deadlines: Update from Nair & Co. International Tax Team
Spain has introduced a new Special VAT Cash Accounting Scheme. The new scheme is designed to support entrepreneurs. The changes introduced by the recent amendment will be...

  November 26, 2013
UK Eases Facilitation of Trade, Travel and Investment by Chinese: Update from Nair & Co.’s International Expansion Team
In light of recent press reports claiming that Chinese nationals are discouraged from visiting the U.K. due to the complex visa procedures, the U.K. government has announ...

  November 25, 2013
Mexico Verifying Work Authorization Applications: Update from Nair & Co.’s International Human Resources Team
The Mexican government’s immigration agency, the National Institute of Immigration (INM), has started contacting business entities that have filed work authorization appl...

  November 22, 2013
Argentina extends Tax Amnesty for Unreported Foreign Currency: Update from Nair & Co.’s International Tax Team
Argentina has recently announced an extension to the application window for applying under the tax amnesty regime by three calendar months effective 1 October 2013. The ...

  November 21, 2013
India Labor Market Testing likely to become common practice: Update from Nair & Co.’s International Human Resources Team
India’s Foreign Regional Registration Office (FRRO) in Hyderabad has been performing audits to check if companies have searched for local labour prior to hiring a foreign...

  November 20, 2013
Belgium to increase Minimum Salary for Type “B” Work Permit Workers: Update from Nair & Co. International HR Services Team
 The Belgian government has announced a nearly two percent increase in the minimum salary requirements for highly skilled foreign workers applying for Type “B” work ...

  November 14, 2013
Brazil Issues Guidelines for Calculating Deduction of Interest: Update from Nair & Co. International Tax Team
Brazil recently issued guidelines for estimating the amount companies doing business in the country may deduct for interest payments on net equity, reports Nair & Co....

  November 13, 2013
Nair & Co. Executive to Participate in Panel Discussion at CFO Roundtable New York
Nair & Co., a global integrated solutions provider helping companies expand internationally, today announced that Stuart Buglass, director, human capital consulting, ...

  November 12, 2013
Hungary Amends Corporate Law: Update from Nair & Co. International Compliance Team
Hungary is likely to amend its civil code making significant changes to the country’s corporate law effective March 2014. New companies may be permitted to establish thei...

  November 11, 2013
Mexico releases mandate for pre-merger approval and updates rules for digital tax receipts: Update from Nair & Co. International Accounting and Expansion Teams
The Mexican government has passed new regulatory measures requiring approval before mergers, revising policy regarding tax receipts and defining “international firm”, amo...

  November 08, 2013
Vietnam introduces various immigration changes: Update from Nair & Co.’s Global HR Team
The Vietnamese Ministry of Labor, Invalid and Social Affairs (MOLISA) has announced new immigration rules which will affect the work permit application requirements and p...

  November 07, 2013
France announces the Finance Bill for 2014: Update from Nair & Co.’s International Tax Team
The French Finance Bill for 2014 was presented by Finance Minister Pierre Moscovici and Budget Minister Bernard Cazeneuve on 11 September 2013.  The new bill (PLF 20...

  November 06, 2013
Portuguese Exempt Withholding Taxes on certain foreign remittances: Update from Nair & Co. International Tax Compliance Services Team
In recent regulatory changes, the Portuguese government has adopted the EU Directive to reduce exempt withholding tax applicable on interests and royalties. Commencing 1 ...

  November 05, 2013
Sweden announces Budget Bill 2014: Update from Nair & Co.’s International Tax Team
The Swedish Government presented the Budget Bill for 2014 to the Parliament on 18 September 2013. The Bill includes a long-term strategy targeted at increasing competitiv...

  November 01, 2013
Nair & Co. Appoints Chris Stone as CEO
Nair & Co., a global integrated solutions provider helping companies expand internationally, today announced the appointment of Chris Stone to Chief Executive Officer...

  October 31, 2013
Highlighting Impact of ‘New UK GAAP’: Update from Nair & Co. International Accounting Services Team
The UK has introduced Financial Reporting Standard (FRS) 102, a new reporting standard. The new standard will apply to all business entities based in UK which do not foll...

  October 30, 2013
Nair & Co. and Florida Venture Forum To Present Panel Discussion: ‘The Right Way To Expand Internationally’
Nair & Co., a global integrated solutions provider helping companies expand internationally, along with the Florida Venture Forum will present a business education pr...

  October 29, 2013
Argentina Raises Social Security Related Salary Thresholds: Update from Nair & Co. International HR Services Team
Argentina has increased the salary limits related to social security. The new gross monthly maximum and minimum salary thresholds for calculating employees’ social securi...

  October 28, 2013
South Korea Changes Reporting Guidelines for Foreign Exchange Transactions: Update from Nair & Co. International Tax Compliance Services Team
South Korea recently amended the reporting guidelines for foreign exchange transactions. The Ministry of Strategy and Finance (MOSF) of South Korea has set forth the foll...

  October 23, 2013
UK changes laws governing unfair dismissal of an employee: Update from Nair & Co.’s International HR Services Team
The UK recently made changes that make it easier to, among other things, quantify the total cost of unfair dismissal claims for companies. The new employment law provisio...

  October 21, 2013
The UK Broadens Activities for Business Visitor Visas: Update from Nair & Co.’s Global HR Services Team
The UK is broadening the permissible activities for business and general visitors and making a number of changes to the Points-Based System, under a statement of changes ...

  October 18, 2013
Nair & Co. Joins Forces with the CEO Collaborative Forum to Address Critical Issues that High Growth Companies Face during International Expansion
Nair & Co., a global integrated solutions provider helping companies expand internationally, today announced a new partnership with the CEO Collaboration Forum, an ex...

  October 18, 2013
Spain proposes to bring VAT provisions in line with the European Union: Update from Nair & Co.’s International Tax Team
Spain has suggested modifications to its VAT provisions so that they are more in line with those of the European Union, reports Nair & Co.’s International Tax Team. T...

  October 17, 2013
Poland expresses income tax and VAT limits in PLN: Update from Nair & Co. International Tax Team
Poland has decided to convert certain income tax and VAT thresholds to PLN (Polish Zloty). Effective 1 January 2014, certain domestic income tax and VAT thresholds will b...

  October 16, 2013
Bahrain Reduces Foreign Worker Tax by 50%: Update from Nair & Co. International Tax Team
The Bahrain government has given a go ahead to reduce fees levied on foreign workers in an attempt to increase business activities of small and medium enterprises (SMEs),...

  October 15, 2013
Australia may limit employment-related tax benefits: Update from Nair & Co. International Tax Team
The Australian government has made strides towards imposing restrictions on certain employment-related tax benefits. This may include reforms in fringe benefits tax (FBT)...

  October 11, 2013
Italian Government Increases the VAT Rate to 22%: Update from Nair & Co. International Tax Compliance Services Team
The Italian government has recently increased the standard Value Added Tax (VAT) rate on goods and services to 22% (from the previous rate of 21%) with effect from 1 Octo...

  October 10, 2013
Malaysian Court Takes Actions Against Director for Failing to File Company’s Annual Return: Update from Nair & Co. International Tax Team
The Petaling Jaya Magistrate Court of Malaysia recently convicted the director of Srimas Klasik Sdn Bhd on two charges for failing to file the companies’ Annual Return to...

  October 09, 2013
Spanish Government Enacts New Law to Support Entrepreneurs and Internationalization: Update from Nair & Co. International Business Services Team
The Spanish government has recently enacted what is commonly known as the “Entrepreneurs Law.” This new law offers SMEs incentives for reinvestment of their profits, amen...

  October 08, 2013
China’s Draft Labour Dispatch Provisions: Update from Nair & Co. International HR Services Team
The Chinese government recently issued draft regulations relating to provisions of Labour Dispatch. Public comments were sought till the first week of September. This is ...

  October 07, 2013
Argentina Announces Tax Incentives Plan to Encourage Software Industry Growth
On September 16, 2013, the Official Gazette in Argentina published a decree to promote the software industry (Régimen de Promoción de Software) by allowing tax incentives...

  October 07, 2013
India considers raising wage cap for Provident Fund (PF) and Employees’ State Insurance (ESI)
The Finance Ministry is considering the proposal put forth before it by the Labor Ministry to raise the statutory wage ceiling for PF contributions to INR 15,000 per mont...

  October 04, 2013
Argentina increases wage limits for Family Allowances: Update from Nair & Co. International HR Services Team
Argentina has announced changes to the regime concerning Family Allowances, effective 1 September. The Family Allowance promotes economic security of children and adolesc...

  October 03, 2013
Immigration Update: South Australia plans to Open Market for Overseas Skilled Workers
The South Australia State Government has announced changes that will streamline its migration scheme as an effort to simplify the process for recruiting skilled employees...

  October 01, 2013
India notifies General Anti Avoidance Rules (GAAR): Update from Nair & Co. Tax Team
In order to reduce tax avoidance, the Indian government has issued General Anti Avoidance Rules (GAAR) which will be effective from April 1, 2016. New provisions would he...

  September 27, 2013
Brazil Amends Tax Reporting Obligations
Brazil recently published changes to certain tax provisions which require reporting information to the Integrated System for the Foreign Trade of Services, Intangibles an...

  September 26, 2013
Argentina alters taxes on capital gains and dividends: Update from Nair & Co. International Tax Services Team
Argentina has recently amended income tax provisions, affecting taxes on capital gains as well as dividends and profit distributions. On both dividends and profit distrib...

  September 25, 2013
China revamps the resident certificate procedure for tax arrangement with Hong Kong
China’s State Administration of Taxation (SAT) department recently announced that the Mainland China tax authority may determine tax resident status of a business or enti...

  September 24, 2013
Netherlands Proposes Tax changes for 2014: Update from Nair & Co.’s International Tax Consulting Team
The Dutch Finance Minister proposed its Tax Plan for 2014 to the parliament on September 15, 2013. Significant changes for businesses, most of which are slated to come in...

  September 23, 2013
India Notifies Final International Safe Harbour Rules on Transfer Pricing
On September 18, 2013 Central Board of Direct Taxes (CBDT) of Government of India published the final Safe Harbor Rules (SHRs). This was after taking into consideration t...

  September 20, 2013
Switzerland Proposes to Restructure Corporate Tax System to Strengthen Tax Competitiveness and Attract International Businesses
The Swiss Federal Government has published an interim steering committee report, in May 2013, outlining plans to restructure its Corporate tax system with the intent of s...

  September 19, 2013
Nair & Co.’s Sir Alan Collins to Honour “Magical Team” at The Churchill Club Awards Ceremony
Nair & Co., a global integrated solutions provider helping companies expand internationally, is proud to be named as the sponsor of the Churchill Club “Magical Team” ...

  September 18, 2013
New ruling states that Marketing and Related Support Services to a foreign associate Qualifies as ‘Export’ for Service Tax: Update from Nair International Tax Team
In a recent ruling involving Tandus Flooring India Private Limited, the Indian Authority for Advance Ruling (AAR) declared that marketing and related support services ren...

  September 17, 2013
India Companies Act- 98 Sections of the New Companies Act Notified
The Ministry of Company Affairs (MCA) has notified 98 sections of the new law which is spread over 470 sections on 12th September, 2013. The remaining sections of the Com...

  September 16, 2013
India likely to Permit Foreign Universities to function as “Non-profit companies”
Foreign universities will be soon allowed to establish campuses in India. A proposal before the Department of Industrial Policy (DIP) and Promotion and the Department of ...

  September 13, 2013
Spain Lowers Minimum Salary Thresholds for EU Blue Card Holders and Expat Workers (Using Fast Track Process)
The Instituto Nacional de Estadistica (INE - National Institute of Statistics) of Spain has lowered the minimum salary thresholds for EU Blue Card holders and Fast-Tracke...

  September 11, 2013
UK: Overtime Payments counting towards Holiday Pay
In the recent case of Neal v Freightliner Ltd an employment tribunal has held that an employee’s overtime payments should be counted when calculating holiday pay if it is...

  September 11, 2013
Norway amends VAT Regulations: Update from Nair & Co. International Tax Services Team
The Norwegian government has exempted foreign businesses from appointing a VAT representative, if the company is headquartered in a country having a tax information exch...

  September 11, 2013
Israeli Government Approves Budget 2013-2014
The Israeli government has approved the Budget for the fiscal year 2013-2014, announcing significant changes to both individual and corporate tax regulations. The provisi...

  September 05, 2013
Russia Clarifies Regulations Related to Withholding Tax on Payments to Foreign Legal Entities
The Russian government has clarified that a resident legal entity acting as a tax agent on behalf of a foreign legal entity will not be allowed to pay Corporate Income Ta...

  September 04, 2013
United Kingdom Likely to Increase Intrastat Arrivals Threshold
The United Kingdom’s tax authority, Her Majesty's Revenue and Customs (HMRC), via a draft legislation, has proposed to increase the intrastat arrivals threshold from £600...

  September 03, 2013
Indian Government Enacts New Company Law
On August 29, 2013, the government of India has enacted a new company law which is likely to take effect in early 2014. The historic company law replaces the old Companie...

  September 02, 2013
Brazil Extends Deadline for Specifying Taxes on Invoices: Update from Nair & Co. International Tax Compliance Services Team
The Brazilian government has issued a Provisional Measure effective from June 12, 2013, extending the cut-off date for mentioning the percentage wise break up of taxes on...

  August 30, 2013
China Exempts Small-sized Businesses from VAT and Business Tax
On July 29, 2013, the Chinese Finance Ministry and the State Administration of Taxation (SAT) have announced VAT and business tax exemptions for small-sized businesses. T...

  August 29, 2013
Argentina Mandates the Use of Online Tax Return System
As of August 1 2013, the Argentine government has made it mandatory for taxpayers to use Argentina’s online tax return system (SIFERE) to submit their gross revenue repor...

  August 28, 2013
Australia Announces Changes to Unfair Dismissal Related Thresholds
 The Australian government has announced an array of changes to many employment related financial thresholds which are indexed annually. These changes are applicable...

  August 27, 2013
Portugal Introduces Extraordinary Investment Tax Credit to Boost Investment
The Portuguese government has recently introduced an extraordinary investment tax credit with effect from July 17, 2013. The new measure is expected to create a congenial...

  August 26, 2013
Belgium introduces Fairness tax: Update from Nair & Co. International Tax Compliance Services Team
The Belgian government, in order to control the fiscal budget, has introduced a "fairness tax" on companies. Companies would be liable to pay the fairness tax in case the...

  August 23, 2013
Russia Clarifies Tax Treatment Rules for Expatriates who Qualify as Highly Skilled Specialists
The Russian Ministry of Finance has clarified that non-residents, including foreign directors of a Russian company, qualify as ‘highly skilled specialists’ under Russian ...

  August 22, 2013
Businesses in Netherlands can now benefit from Accelerated Depreciation: Compliance Update from Nair & Co. International Accounting Services Team
Netherlands has recently introduced accelerated depreciation related provisions which are in effect from July 1, 2013. This is a temporary measure and allows companies op...

  August 21, 2013
Brazil Enacts Rigorous Anti Corruption Law
Brazil has finally passed the long proposed Anti Corruption Law which will ensure that Brazilian and foreign companies with offices, branches or agents in the country are...

  August 20, 2013
India Issues Draft Safe Harbour Rules on Transfer Pricing
On 14th August, the Indian Government has issued draft provisions on safe harbor regulations, inviting comments from the public. The same will be accepted until August 26...

  August 19, 2013
Reserve Bank of India Reduces Overseas Direct Investment Threshold
The Reserve Bank of India (RBI) has recently announced the reduction of Overseas Direct Investment (ODI) by a domestic company for setting up an unincorporated entity abr...

  August 16, 2013
India Likely to Amend Labour Laws: International HR Services Team Of Nair & Co.
The Planning Commission of India has recommended an overhaul of the existing labour laws in order to give a boost to the sagging manufacturing sector. The suggestions, if...

  August 14, 2013
China Revises Profit Repatriation Regulations
The Chinese Government has recently issued a notice concerning tax clearance for remitting payments abroad on service items. This will take effect from September 1, 2013....

  August 13, 2013
Australia Tax Changes may affect Multinational Employers and Employees: Update from Nair & Co. International HR Services Team
The Australian Taxation Office (ATO) has introduced new regulations which may affect individuals including multinational employers and expatriates on international assign...

  August 12, 2013
India Publishes Tax Amnesty Application Procedure for Service Tax Defaulters
Further to the announcement of the Service Tax Voluntary Compliance Encouragement Scheme, 2013 (referred to as ‘Service Tax Amnesty Scheme’), the Indian Government has re...

  August 09, 2013
Rajya Sabha passes Indian Companies Bill
The Rajya Sabha approved the Companies Bill on August 8, 2013. The Bill had been passed by the Lok Sabha during December 2012. The Bill now awaits the President’s nod for...

  August 09, 2013
Indonesia Introduces 1% Tax on Gross Revenue for Small & Medium Enterprises: Update from Nair & Co. International Tax Compliance Services Team
 Indonesia has introduced a Regulation for Taxation of Small and Medium Enterprises. Income earned or received by certain corporate and individuals meeting the pres...

  August 08, 2013
Belgium Budget 2013 Bill Concerns Miscellaneous Tax Provisions: Update from Nair & Co. International Tax Compliance Services Team
A Bill enclosing miscellaneous tax provisions related to the Budget 2013 was published in the Belgian Gazette on June 28. Small and medium sized enterprises (SME’s) will ...

  August 07, 2013
India Liberalizes FDI Norms for Multi-Brand Retail Sector to Attract Foreign Investment
The Indian Government, in a renewed attempt to attract foreign investment, has liberalized norms for foreign investment, sourcing and location in the Multi-Brand Retail T...

  August 07, 2013
China Revises Immigration Law: Introduces New Visa Categories and Lays Out New Document Requirements
China has recently released Order No. 637 (referred to as Regulations) outlining modifications to the existing visa norms and new visa documentation requirements which ar...

  August 06, 2013
Taiwan Relaxes Hiring Rules for Blue-Collar Foreigners: Update from Nair & Co. International HR Services Team
To ease Taiwan’s labor-shortage problem, blue collar workers in the manufacturing enterprises will now be allowed to hire more foreign workers in the country after paying...

  August 05, 2013
Hungary Extends Exemptions for Transfer Pricing Documentation: Update from Nair & Co. International Tax Compliance Services Team
Hungary has implemented changes to the transfer pricing (TP) documentation requirements extending scope of exemptions. However, new exemptions can only be availed by taxp...

  August 02, 2013
Austria Eases the Minimum Requirements for a GmbH: Update from Nair & Co. International Expansion Team
On July 1, 2013, the Austrian government has lowered the minimum share capital for a GmbH (company with limited liability) from EUR 35,000 to EUR 10,000. The current GmbH...

  August 02, 2013
HgCapital Acquires Nair & Co.
Nair & Co. has all the characteristics that HgCapital looks for in an investment: it is a leader in a highly fragmented market with real growth potential, a large and...

  August 01, 2013
Finland Proposes Tax Changes for 2014-2017: Update from Nair & Co. International Tax Compliance Services Team
The Finnish government has proposed changes to the corporate and capital income taxation for 2014-2017. The suggestions made for corporate and capital income ta...

  July 31, 2013
Britain Demands Visa Bond for “High-risk” Visitors from Six Countries Including India
Britain has introduced a pilot scheme whereby it is going to ask for a £3,000 ($4,630) refundable visa bond for “high-risk visitors” from its six former colonies includin...

  July 30, 2013
France Proposes Automatic Filing of Transfer Pricing Documentation: Update from Nair & Co. International Tax Compliance Services Team
An anti-fraud and tax evasion bill was passed by the French National Assembly on June 20, 2013.  French taxpayers will then, have to submit and file their transfer p...

  July 30, 2013
Italian Government Approves Measures for Economic Growth: Update from Nair & Co. International Tax Compliance Services Team
With an aim to revive its flagging economy, the Italian government plans to address unresolved issues that have held back its economic growth over the past few years. A L...

  July 29, 2013
Reserve Bank of India (RBI) Lowers Repatriation Period of Export Income: International Tax Team of Nair & Co.
India’s Central Bank, the Reserve Bank of India has lowered the period of realization and repatriation (from 12 months to 9 months) of the amount signifying complete valu...

  July 26, 2013
Chilean Taxpayers Subject to Transfer Pricing Regulations Must Submit New Affidavit (Transfer Pricing Return): Update from Nair & Co. International Tax Compliance Services Team
Taxpayers carrying out transactions with related entities domiciled abroad must adhere to the new transfer pricing compliance requirements. Taxpayers are required to subm...

  July 25, 2013
Brazil Introduces Modifications to Profit-Sharing Plans for Employees: International HR Services Team of Nair & Co.
Modifications to profit-sharing plans for employees (participação nos lucros ou resultados, PLR) for individual income tax purposes have become effective in Brazil from J...

  July 24, 2013
France Issues Tax Regularisation Circular: Update from Nair & Co. International Tax Compliance Services Team
The French Finance Ministry via a circular issued on 21st June, has laid down certain norms for the treatment and tax consequences applicable to individual French taxpa...

  July 22, 2013
Mexico mandates e-invoicing: Update from Nair & Co. International Tax Compliance Services Team
Taxpayers in Mexico with a turnover exceeding MXN 250,000 a year mandatorily require to issue electronic invoices from the year 2014. This will be required for both inbou...

  July 19, 2013
FM says CBEC will Target 12 lakh Non-filers of Service Tax: Update from Nair & Co. International Tax Compliance Services Team
In a harsh message to indirect tax evaders, the Indian finance minister P. Chidambaram has said that the revenue department will target around 12 lakh service tax assesse...

  July 18, 2013
United Kingdom Introduces Changes to Employment Law Regulations
The Enterprise and Regulatory Reform Act 2013 introduces an array of changes to the UK employment law. The recent changes in the UK employment law are expected to affect ...

  July 17, 2013
UK Tax Defaulters Offered Chance to Settle Debts: Update from Nair & Co. International Tax Compliance Services Team
The Her Majesty’s Revenue and Customs (HMRC), has launched a campaign on July 9, 2013, inviting defaulters to settle their tax debts. The campaign by the government autho...

  July 16, 2013
South Australia Cuts Payroll Taxes: Update from Nair & Co. International Tax Compliance Services Team
Around 2,20,000 businesses have been rewarded with temporary payroll tax concessions from July 1, 2013 till June 30, 2015, said Treasurer Jay Weatherill, while presentin...

  July 16, 2013
IMF upgrades British growth forecast higher to 0.9% in 2013: Update from Nair International Expansion Team
The International Monetary Fund (IMF) has lifted its economic growth forecast for Britain to 0.9 per cent from the earlier 0.7 per cent. Experts think that the upward rev...

  July 15, 2013
Australia Increases Minimum Wages: International HR Services Team of Nair & Co.
The Australian government has announced in their Annual Wage Review to hike minimum wages for companies setting up foreign operations. The new move, which is effective fr...

  July 15, 2013
Informal Complaints in Australia – A Work Place Right: International HR Services Team of Nair & Co.
Do you face physical and mental health problems at work or you are depressed, bored, frustrated or just plain weary! In Australia informal complaints can be made to the...

  July 15, 2013
China and Netherlands Sign New Tax Treaty to Encourage Investment
The People’s Republic of China and the Netherlands have signed a new tax treaty on May 31, 2013 which is expected to replace the current tax treaty (signed in 1987). The ...

  July 12, 2013
France Proposed to Amend Transfer Pricing Regulations: Update from Nair & Co. International Expansion Team
The French Finance ministry has recently published a report recommending various new measures to fight transfer pricing regime abuses. In future, corporate tax payers may...

  July 11, 2013
Brazilian Government Alters RIOF to Boost Economy: Update from Nair & Co. International Tax Compliance Services Team
With an aim to boost the inflow of finances and diminish the risk of the depreciation of the Brazilian currency-the Real against the US dollar and reduce inflationary pre...

  July 11, 2013
India Imposes Restrictions on Currency Futures and Options Trading by Banks
The Indian Central Bank, the Reserve Bank of India (RBI) has barred banks from trading in currency futures and exchange traded currency options market in a bid to stem th...

  July 10, 2013
Mexico: Companies must Obtain Data Subjects’ Consent and Provide Adequate Privacy Notices while Collecting Personal Data
The Mexican government has announced new data privacy guidelines with effect from April 17, 2013. These guidelines require companies to furnish appropriate data privacy n...

  July 09, 2013
Canada Mandates Use of ‘Clear and Simple Language’ in Termination Clauses in Service Agreements
The Québec Apex Court has recently rendered a verdict which prescribes Quebec Service providers and their clients to use transparent “Termination Clauses” in Service Agre...

  July 08, 2013
Australia Amends Trade Mark Law on April 15, 2013: Update from Nair & Co. International Expansion Team
The provisions of the Intellectual Property Laws Amendment (Raising the Bar) Act 2012 (Cth) proposing changes to the trade mark law in Australia were implemented on April...

  July 08, 2013
Mauritius to close loopholes in DTAA (Double Tax Avoidance Agreement) with India
 Mauritius is willing to plug loopholes in the tax treaty with India in response to India's concerns over the misuse of the DTAA and has proposed to include a clause...

  July 04, 2013
India- FIPB clears 8 FDI Proposals worth Rs 1311 crore: Update from Nair & Co. International Expansion Services Team
The government announced its approval for eight foreign direct investment (FDI) proposals worth around Rs 1,311.54 crore based on the suggestion of the Foreign Investment...

  July 03, 2013
UK Allows Incorporation of Charitable Incorporated Organizations: Update from Nair & Co. International Expansion Team
The United Kingdom government has recently brought into effect a new form of charity entity - Charitable Incorporated Organizations (CIO’s) which were slated to be introd...

  July 02, 2013
Vietnam Makes Reporting of High Value Transactions Compulsory: Update from Nair & Co. International Expansion Team
 The Vietnamese government has passed a new resolution making sure that any transaction of more than US $14,250 (VND300 million) must be notified to the central bank...

  July 01, 2013
Poland Amends VAT Regulations: Update from Nair & Co. International Tax Compliance Services Team
 The Polish government has made a slew of amendments to the value added tax (VAT) provisions in the second phase. Key amendments are explanation of “export...

  June 28, 2013
Canadian Government to track US Firms Evading Taxes: Update from Nair & Co. International Tax Compliance Services Team
US companies which look at Canada for expansion ought to be aware that they could have a tax exposure here. Canada considers the presence of US employees or even contract...

  June 28, 2013
CARF permits payments under employee profit-sharing plans for deduction: Update from Nair & Co. International Expansion Team
Employers can claim deduction for corporate income tax purposes for the payments made to employees through profit-sharing plans, regardless of their designation or partic...

  June 27, 2013
Israel Budget for FY 2013-2014: Update from Nair & Co. International Expansion Team
The Israeli cabinet has approved the Budget for the fiscal year 2013-2014. As per the IBFD and Nair & Co. which provide information on international taxes, the below ...

  June 26, 2013
Sweden Proposes Domestic Tax Changes in 2013 Budget: International Tax Services Team of Nair & Co.
The Swedish Ministry of Finance has circulated a memorandum seeking consultation on the proposed domestic tax changes in the 2013 budget bill. The proposed measures, once...

  June 24, 2013
Brazil Authorises e-filing of Import Information for Certain Items: Update from Nair & Co. International Expansion Team
From May 1, 2013, Brazil has mandated the electronic submission of imports related information for certain goods and services entering the country. The import content for...

  June 24, 2013
United Kingdom Clarifies Immigration Regulations: International HR Services Team of Nair & Co.
The UK government in latest amendments to the country’s immigration rules has clarified various administrative anomalies, in addition new provisions are introduced which ...

  June 21, 2013
Portugal Supports VAT Cash Accounting Scheme: Update from Nair & Co. International Tax Compliance Services Team
To boost growth, employment and industrial development the Portuguese Council of Ministers has passed the much awaited diktat setting up a value-added tax (VAT) “cash” a...

  June 21, 2013
Beijing Introduces Mandatory Non-Criminal Record Certificate for Foreigners: International HR Services Team of Nair & Co.
Foreigners who wish to seek authorization to work in Beijing would be under the obligation to provide a legalized police clearance certificate from their home country as ...

  June 20, 2013
Ireland Introduces Changes to Immigration Regulations with the Aim to Attract Business: International HR Services Team of Nair & Co.
The Irish government has announced easing of employment requirements to help employers get access to skilled non-EEA (European Economic Area) candidates with the aim of b...

  June 19, 2013
UK Promotes Intellectual Property Ownership with 90-day Patent Proposal: Update from Nair & Co. International Expansion Services Team
A consultation paper seeking comments on the proposed ‘90-day patent’ has been floated by the Intellectual Property Office (IPO) about two months ago to promote intellect...

  June 18, 2013
Parental Leave Increases to 18 weeks in the UK: International HR Services Team of Nair & Co.
The UK has amended the Parental Leave Directive increasing the right to unpaid parental leave from 13 weeks to 18 weeks effective from March 8, 2013. Any employee who is ...

  June 17, 2013
Australia Firms up Penalties for Unauthorized Employment: International HR Services Team of Nair & Co.
Australian government has introduced new provisions subjecting businesses and corporate employees to harsher penalties like compulsory civil penalty for employing unautho...

  June 17, 2013
Norway Revamps Corporate Tax Regime: Update from Nair & Co. International Tax Compliance Services Team
With an aim to give a boost to its economy, the Norwegian government plans to array of change to it corporate tax regime. The corporate tax rate will be lowered, the tax ...

  June 14, 2013
India Hikes Debt Limits by $5 Billion for Long-term Foreign Investors
The Indian government has raised debt limits for long-term foreign investors in order to stabilize the debt market. In the past 2 weeks $3 billion were drained from the d...

  June 13, 2013
Australian companies to increase retirement benefit to 9.25 % next month
Come July 2013, the minimum compulsory contribution rate of employers under the Act for “eligible employees” will increase to 9.25 per cent. Going forward the minimum ra...

  June 12, 2013
Australia to Implement Altered Privacy Law from March 2014
The Privacy Amendment (Enhancing Privacy Protection) Act 2012 (Cth) (the “Act”) modifies the current Privacy Act 1988. It proposes to strengthen privacy protection by pro...

  June 12, 2013
Argentina Approves Tax Amnesty on Unreported Foreign Currency: Update from Nair & Co. International Tax Compliance Services Team
The Argentinean Government has approved new Tax Amnesty in bid to encourage investors to declare non-reported foreign currency either within or outside the nation.With th...

  June 11, 2013
Czech Republic Presents Updated Taxation Bill: Update from Nair & Co. International Tax Compliance Services Team
The Czech Republican government has recently accepted the first reading of a Bill initiating changes to tax laws especially regarding private law re-codification, says Na...

  June 06, 2013
Brazil Proposes Revised Anti Corruption Law: Update from Nair & Co. International Tax Compliance Services Team
The Brazilian government has presented an anti-corruption bill for consideration before the senate; the anti- corruption bill imposes liability on businesses involved in ...

  June 06, 2013
Denmark Publishes Changes to Corporate Income Tax Provisions: Update from Nair & Co.’s International Tax Compliance Services Team
The Danish government recently published new provisions concerning corporate income tax, accepting several measures announced in the circular "Vækstplan DK - stærke virks...

  June 04, 2013
China clarifies issues concerning Taxation of Secondment Employment: Update from Nair & Co. International Tax Compliance Services Team
The Chinese Government’s State Administration of Taxation (SAT) issued Announcement 19, which clarifies the situation under which cross-border secondments of ex.patriate ...

  June 03, 2013
Israel hikes VAT to Record High 18%: Update from Nair & Co. International Tax Compliance Services Team
The Israeli Government has raised value-added tax rate (VAT) to 18% from 17%. In the light of the growing budget deficits, the Israeli Tax Authority expects to generate m...

  May 31, 2013
UAE set to Enact New Companies Law: Update from Nair & Co. International Expansion Services Team
The UAE government has recently approved a new company’s law, nearly a decade after it was first discussed. The draft will now be sent to the President for final approval...

  May 30, 2013
South Korea Enacts Tax Revision Bill: Update from Nair & Co. International Tax Compliance Services Team
The South Korean government passed the Tax Revision Bill in January 2013, which brings in significant changes to corporate and individual taxation provisions, for compani...

  May 30, 2013
Brazil Further Hikes Gross Revenue Limit Under Presumed Profit Method
The Brazilian government has further raised the limit of gross revenue for companies assessing corporate income tax under the presumed profit regime to a maximum of BRL 7...

  May 28, 2013
Brazil Reduces Tax on Certain Financial Transactions to 0%: Updates from Nair & Co.’s International Tax Consulting Team
The Brazilian Government has reduced the rate of tax on financial transactions (IOF - imposto sobre operações financeiras) to 0% for certain infrastructure-related invest...

  May 27, 2013
Indonesia Introduces a New VAT Invoice Process: Nair & Co.’s International Tax Advisory Team
Indonesia has introduced a new value added tax (VAT) process in order to help the tax authorities enhance control over the validity of VAT invoices, says Nair & Co., ...

  May 27, 2013
Poland Proposes Changes to Transfer Pricing Regulations: Update from Nair & Co. International Tax Compliance Services Team
The Polish government has proposed to amend its transfer pricing regulations(TPRs) generally adjusting the provisions in line with the 2010 OECD Transfer Pricing Guidelin...

  May 23, 2013
Australian Federal Court Clarifies that Reasonable Performance Management is not “Adverse Action”
In a case which involved Mr. Ramos and Good Samaritan Industries (GSI), Justice Barker has upheld Federal Magistrate Rolf Driver’s earlier verdict which held that reasona...

  May 21, 2013
Spain and the US Sign Protocol to Avoid Double Taxation
The governments of Spain and the United States of America (US) have recently concluded a tax agreement amending the provisions of the current protocol which has been in e...

  May 17, 2013
Japan and the UK Agree in Principle to Amend Current Tax Convention
The governments of Japan, the UK and Northern Ireland have agreed in principle on a draft legislation to amend the current tax convention which took effect in 2006. The d...

  May 16, 2013
India Notifies Rules for ‘Voluntary Compliance Encouragement Scheme’: Update from Nair & Co. International Tax Compliance Services Team
The Indian government has notified the rules to execute an amnesty scheme i.e. “Voluntary Compliance Encouragement Scheme” which was proposed in its February 2013 budget....

  May 15, 2013
Australia Budget 2013-14: Fringe Benefits Tax Rate Increased, Scope of PAYG Extended and Proposed Income Tax Reductions Postponed
The Australian government has released its budget for 2013 which targets savings to bring the budget back to surplus. With a budget that predicts a minor deficit next yea...

  May 14, 2013
Brazil Approves Additional Labor Rights for Domestic Employees
The Brazilian government has approved a proposal that grants additional labor rights to domestic employees. The proposal which guarantees equal rights to both domestic a...

  May 14, 2013
Australia Amends Liability of Directors and Officers: Update from Nair & Co. International Expansion Services Team
In order to simplify the process of imposing criminal liability on directors and managers of Australian Companies, the Council of the Australian Governments (COAG) has de...

  May 14, 2013
India Issues a Tax Notice to Microsoft for Transfer Pricing: Update from Nair & Co. International Tax Compliance Services Team
The Indian income tax (IT) department served a demand notice to Microsoft in India on valuation of transactions with the parent Microsoft Corporation based in the US. The...

  May 10, 2013
India Slashes Tax on Interest Payments to Foreigners on Government and Corporate Debt
The Indian government is going to reduce tax on interest payments to foreigners on government and corporate debt from up to 20% to 5%. The tax reform which will take eff...

  May 09, 2013
Spanish Government Approves Measures to Stimulate Employment: Update from Nair & Co. International tax compliance services team
The Spanish government has approved Royal Decree-Law 4/2013 which has significant measures to promote entrepreneurship and generate employment. The main measures have a r...

  May 08, 2013
Australia Amends Transfer Pricing Regulations
Australia has recently introduced the Tax Laws Amendment (Countering Tax Avoidance and Multinational Profit Shifting) Bill 2013 (“the Bill”) in the House of Representativ...

  May 02, 2013
Russia Proposes New Transfer Pricing Deadlines: Nair & Co. International Tax Consulting Team
The Russian government has sent Draft Law No. 79859-6, which proposes to set new transfer pricing deadlines for taxpayers, for the second reading to the State Duma (the l...

  May 02, 2013
Argentina Introduces New Systems for Recording Overseas Payments: Update from Nair & Co. International Expansion Services Team
The Argentinian government has introduced a new electronic system i.e. the “Single Electronic Window of Foreign Trade” which will enable data transfer and tracking of int...

  May 02, 2013
India Passes Finance Bill for 2013-14: Updates from Nair & Co.’s International Tax Consulting Team
The Indian parliament cleared the Finance Bill on April 30, 2013. It has issued a clarification regarding Tax Residency Certificates (TRC) issued by a foreign government....

  April 30, 2013
Brazil Extends Threshold for Companies to Qualify for Presumed Profit Method
Brazil has recently enacted Provisional Measure 612/2013 which will broaden the threshold for companies to qualify for the Presumed Profit Method. The provisional measure...

  April 30, 2013
Australia Proposes Amendments to GAAR (Part IVA) to Counter Tax Dodging
The Australian government has introduced Tax Laws Amendment (Countering Tax Avoidance and Multi National Profit Shifting) Bill 2013 on February 13, 2013. The draft amendm...

  April 29, 2013
India Revises Tolerance Band for Transfer Pricing: Updates from Nair & Co.’s International Tax Consulting Team
The Indian government in a recently issued notification has modified the “tolerance band” for the Assessment Year 2013-14 which will ascertain arm’s length pricing for in...

  April 26, 2013
Australia Releases Fair Work Amendment Bill 2013
On March 21, 2013, the government initiated the Fair Work Amendment Bill 2013 (Amendment Bill) into the federal Parliament. The Bill includes a broad range of amendments ...

  April 22, 2013
Japan Budget 2013 - Amendments to Transfer Pricing Regulations, Withholding Tax, SME Expenses and Taxation: Updates from Nair & Co.’s International Tax Consulting Team
The Japanese cabinet has approved several reforms which include changes to corporate, individual and international taxation, in order to stimulate the economy says, Nair ...

  April 19, 2013
Chinese Government Extends the VAT Nationally: Nair & Co.’s International Tax Advisory Team
China’s State Council has recently announced that the Value Added Tax (VAT) pilot program will be implemented nationwide from August 1, 2013. The pilot program is curren...

  April 19, 2013
Argentina Introduces Electronic Submission and New Form for Transfer Pricing
The Argentine tax authorities have revised transfer pricing regulations making it mandatory for taxpayers to file transfer pricing reports in a digital format, through th...

 
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