TOP STORIES THIS WEEK:

Customs Duty in India: Rate Changes Under Union Budget 2024 to Boost Local Manufacturing

To boost its domestic manufacturing ecosystem and facilitate investments, India is set to reduce or remove customs duties on a host of items, such as gold, silver, mobile phones, chargers, medicines, medical equipment, critical minerals, and inputs for the leather and textiles industries

India to Abolish 2% Equalisation Levy on Non-Resident Digital Companies from August 1, 2024

The decision by India to abolish the 2 percent equalisation levy while retaining the 6 percent equalisation levy on online advertising revenues aligns with the country’s global commitments under the OECD’s Pillar Two framework.

Old vs New Tax Regime in India: Key Differences for Payroll

India offers two tax regimes: the new tax regime, which is the default personal income tax structure, and the option to stick with the old tax regime. The federal budget for FY 2024-25 has introduced several changes to the new tax regime.

India to Enforce Mandatory BIS Standards for Chemicals and Petrochemicals

India will implement mandatory BIS standards for chemicals and petrochemicals, applicable on both domestically manufactured and imported products.

State-by-State Merchandise Export Trends FY 2023-24: Emerging Patterns in Leading Industrial Regions

We discuss the shifts in merchandise exports of India’s states in FY 2023-24, linked to their core export items and global trade dynamics.

COMPLIMENTARY BUSINESS RESOURCES:

An Introduction to Doing Business in Singapore 2024

This publication examines Singapore's 2024 business landscape: economic trends, strategic advantages, and investment opportunities for foreign firms in this key Asian hub.

Guide to HR Compliance and Best Practices in China

The Guide to HR Compliance and Best Practices in China explains key considerations for foreign employers from hiring to staff management and compliance with legislative updates and data security laws.

From Recruitment to Retention: India HR Insights for 2024

This HR report offers an essential guide for foreign invested firms to attract and retain the best talents in India’s dynamic hiring environment.

UPCOMING EVENTS FOR ASIA:

Understanding China's New IIT Law and the Six-Year Rule: A Guide for Foreign Taxpayers

Webinar | Tuesday, August 6, 2024 | 4:00 PM China / 10:00 AM CEST / 3:00 PM Vietnam

At a Crossroads for Your China Business - When and How to Survive, Right-size, or Exit

Webinar | Thursday, August 8, 2024 | 9:00 AM Los Angeles / 12:00 PM New York / 6:00 PM Brussels

Navigating Profit Repatriation in China's Foreign Exchange Environment

Webinar | Thursday, August 22, 2024 | 4:00 PM China / 10:00 AM CEST / 9:00 AM UK