Other Briefings
India to Raise Import Taxes on Luxury Items
India will increase import duties on a number of luxury items, including automobiles, televisions, high-end mobile phones, tablets, laptops and exotic foods. The increases are targeted at imported consumer goods that add no manufacturing or FDI value to the country.
New Issue of Asia Briefing: An Introduction to Tax Treaties Throughout Asia
In this issue of Asia Briefing Magazine, we look at the various types of trade and tax treaties that exist between Asian nations. These include bilateral investment treaties and also the meatier double tax treaties and free trade agreements that directly affect businesses operating in Asia.
Compliance Requirements for Companies in India
By CA. Ravikant Modi and CA. Manoj Kumar, Dezan Shira & Associates, India Offices Jul. 8 – There are a number of ways to start a business in India, ranging from a joint venture to a liaison office. Whatever route you choose, it is important to have an understanding of the subsequent compliance issues, as these […]
Indian SEZs Receive Service Tax Exemptions
Jul. 3 – India’s Ministry of Finance has agreed to exempt service tax charges on developers and units operating within the country’s special economic zones (SEZs). The exemption will be available as a service tax refund for specified services received by units and developers within the SEZs. Taxes levied on services used exclusively for operations […]
India Tax Overview for FIEs
By Chris Devonshire-Ellis, Dezan Shira & Associates Jun. 24 – Tax rates in India depend on many variables, such as whether a company is deemed a permanent establishment, the nature of its income, and the provisions of relevant double taxation avoidance agreements. India’s tax system clearly demarcates authority between central and state governments and local […]
An Introduction to Audit in India for Non-Auditors
While it may be hard for someone without a background in tax or accounting to be responsible for the financial operations of the company’s subsidiary in India, it will certainly be to their benefit if at least a basic understanding of the procedures can be obtained.
Further Tax Amendments Receive Approval in India
India recently passed amendments to its Finance Bill. Tax on share buybacks will now be raised to 20 percent, while the tax on technical service fees provided to non-residents will also be raised from 10 percent to 25 percent.
Bombay Stock Exchange Launches Shariah Index
The Bombay Stock Exchange has become India’s first stock exchange to launch an Islamic-focused Index, calling it the S&P BSE 500 Shariah Index. It will be compliant with Islamic canonical law in choosing investments.
