ReleaseWire Connect

Chinese authorities have recently announced that the import tax exemption on purchases of certain R&D equipment and devices by foreign invested R&D centres would continue.

Nair & Co., the leader in international business expansion services named Smartling, Inc. as the winner of the Fastech Favorite award at the Dow Jones VentureWire FASTech conference on November 8, 2011 at Redwood City, California.

Nair & Co., the leader in international business expansion services, today announced Manoj George as the company’s new CEO. George takes over the role from co-founder Dr. Shan Nair who will continue to be actively involved in the company at the strategic level and will also continue to be a member of the board.

Expatriate employees in Netherlands, working on a temporary basis can avail of “the 30% ruling regime,” resulting in a 30% tax free employment income in hand. This provision was introduced by the Dutch Government to compensate them for specific expatriate costs.

The Italian Ministry of Economy has announced that it has approved the legislation of Law Decree no. 138 of August 13/2011 and Law Decree no. 148 of September 14/2011 which includes an increase in the rate of Value Added Tax (VAT) to 21% from the existing rate of 20%.

China’s state-run All China Federation of Trade Unions (ACFTU) has announced it aims create labor unions in 65% of the country’s foreign-invested enterprises by the end of the year 2011 and increase the percentages to 78% by 2012 and 90% by 2013.

The Singapore government recently issued certain clarifications on the Foreign Tax credit (FTC) pooling system which was introduced in the 2011 annual budget.

Nair & Co., a global integrated solutions provider helping companies expand internationally, today announced that the firm’s CEO and Co-Founder, Dr. Shan Nair, will be presenting the inaugural Churchill Club Awards “Magical Team” category honor to winner Microsoft Kinect for Xbox 360.

As the proposed Tax Reform Bill submitted to the Japanese Diet was not passed in its original form, the Amended Tax Reform Bill which includes Corporate Tax rates was approved and became effective on June 30, 2011.

New revisions to China’s Individual Income Tax (IIT) Law increased the amount of monthly deductible income for Chinese nationals to RMB3,500, the deductible income for foreign remains the same at RMB 4,800. The earlier proposed increase was to RMB 3,000.