Industry Cheers Vodafone Win Against a $2.2 Billion Tax Bill
India's Supreme Court on Friday ruled in favor of Vodafone Group’s appeal against a $2.2 billion tax bill on its purchase of a 67% stake in India's Hutchison Essar Ltd.
China Reduces Corporate Tax for Small Businesses; Cuts Import Tariffs
China’s tax policy framework for 2012 largely focuses on reducing taxes for both individuals and small businesses to maintain economic growth and stability.
Reserve Bank of India Reduces Validity Period for Checks, Pay Orders
The Reserve Bank of India has decided to reduce the validity period for checks, drafts, pay orders and banker's checks from six months to three months from April 1, 2012.
Income Tax Hike for Dormant Companies in Italy
Dormant companies in Italy will be paying a higher corporate tax rate in 2012 as per the new Italian tax law.
Korea to Reduce Corporate Tax for Mid-sized Companies
The Korean government announced plans to reduce the top marginal corporate tax rate to 20% for companies with tax bases between 200 million won and 50 billion won in 2012.
France Announces Corporate Tax Surcharge, Hikes VAT Rate to Reduce Debts
The government of France announced plans to impose a ‘temporary’ corporate tax surcharge of 5% for 2012 and 2013 for large companies.
UK VAT- Intrastat Declarations to Be Submitted Online
HM Revenue & Customs (HMRC) intend to make electronic submission of Intrastat declarations mandatory. HMRC plans to amend the UK Intrastat legislation to withdraw the option to submit Intrastat declaration by paper. This measure is likely to take effect on April 1, 2012.
China Defines Software Products Eligible for VAT Refunds; Plans to Introduce VAT in Shanghai
China's Ministry of Finance (MoF) and the State Administration of Taxation (SAT) issued a circular detailing Value Added Tax (VAT) incentives for software products and clarified certain implementation issues. Circular 100 which was released on October 13, 2011, will be effective from January 1, 2011 retrospectively.
India Issues New Permanent Account Number (PAN) Application Form 49AA for Foreign Residents/Entities
The Income Tax Department of India recently issued a new PAN (Permanent Account Number) application form (Form No. 49AA) for foreign residents/entities.
Nair & Co. to Provide International Expansion Services to Exemplary Start-Up
Nair & Co., the leader in international business expansion services, will offer complimentary international expansion services to the “FASTech Favorite” award winner at the upcoming Dow Jones VentureWire FASTech conference.