Category: Finance

Malaysia: New Companies Bill Aims to Simplify Corporate Governance, Increases Liabilities of Directors

Malaysian parliament, the Dewan Rakyat, passed the new Companies Bill earlier this year. The bill will replace the 50-year-old Companies Act of 1965 and is expected to come in force by end of 2016. Here are the five key changes proposed in the Companies Bill: Incorporation gets easier:…

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India’s Goods & Services Tax: 10 Things to Know

India’s parliament has approved implementation of Goods and Services Tax (GST) – the country’s biggest tax reform. The GST will replace and harmonize India’s current indirect tax system – a complex medley of about 17 taxes include state Value Added Tax (VAT), service…

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Brazil: New Capital Gains Tax Rates from 2017

Brazilian tax authorities (RFB) have clarified that the new capital gains tax rates will apply from January 1, 2017. Brazil had converted the Provisional Measure 692/2015 (PM 692) into Law 13,259 in March earlier this year. The law increased the capital gains tax…

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Denmark: Tax Relief on Employee Stock Options

Denmark has approved a new method of taxing employee share allocations and stock options. The new legal amendment (430/2016) will come into effect July 1, 2016. The changes allow companies to give up on a corporate tax deduction in lieu of favorable tax…

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India: Double Taxation Relief for Companies, New Minimum Wage for Contract Workers

In a relief to companies and individuals having overseas income, the Central Board of Direct Taxes (CBDT) drafted a set of new rules to simplify the use of Foreign Tax Credits (FTC). The proposed framework will allow companies and individuals to claim credits on…

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Hong Kong to Introduce AEOI Standard, US Companies Need to Review Compliance

Hong Kong announced the new Inland Revenue amendment bill last month. The bill offers a legal framework to set up the Automatic Exchange of Financial Account Information (AEOI) in the country. The law will help in combating money laundering, corruption and terrorism financing.…

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Colombia: New Tax Reforms Aim to Curb Tax Evasion and to Expand Taxpayer’s Pool

Colombian lawmakers wanted to tackle the problem of tax evasion head-on. Hence, the government proposed a few structural tax reforms last year. Finance Minister Mauricio Cardenas confirmed this while speaking to the media. He said the new tax reforms would counter tax evasion and create a larger pool of…

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Free Seminar: Global Expansion – Getting it Right

Join us for a complimentary seminar on "Global Expansion – Getting it Right" to learn real-world insights, examples, and practical tips for companies going global including: Steps companies should take to ensure they are truly prepared to expand Creating the optimal legal structure Tax and…

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Peru Persists with Structural Reforms to Boost the Economy in 2016

For over a decade, Peru has been one of the fastest growing economies of South America. Some key factors including better economic policies, plenty of natural resources, improved technology, and political stability have worked in its favor. Here’s an overview of some of the changes that…

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India: Lowering of Corporate Income Tax is on the Cards

Asian markets are fiercely competing with one another to attract foreign investment into their countries. India’s expected decision to lower corporate tax from 30 to 25 percent is seen as a positive step to remain competitive with other major Asian economies, especially China.…

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