Nov. 30 – The new issue of China Briefing Magazine, titled The Asia Tax Comparator, is out now and will be temporarily available as a complimentary PDF download on the Asia Briefing Bookstore throughout the month of December. This month’s issue also offers our new 2013 Asia Tax Guide as a complimentary supplement, providing an overview of corporate and individual income tax rates for key countries in emerging Asia.
In an increasingly inter-connected Asia, many foreign investors are looking beyond China, using the lens of their China experiences to understand the investment environment in countries such as India and Vietnam.
In this issue of China Briefing Magazine, we discuss corporate income tax, value-added tax, business tax, goods and service tax, withholding tax, and individual income tax as these apply in China, India, and Vietnam, as well as in the popular holding company destinations of Hong Kong and Singapore. This includes tax rates, descriptions, incentives, and deadlines, as well as the main FDI source countries/regions and industry-specific notes. Continue reading
By Daniel Fleishman
Nov. 30 – India and China are looking to take their thriving economic relationship to a new high. This week, delegates from East Asia’s two fastest-growing economies met in Delhi for the second official India-China Strategic Economic Dialogue. Initiated in 2010 during a visit to India by Chinese Premier Wen Jiabao, the India-China Strategic Economic Dialogue is a forum at which the two countries share thoughts on mutual economic issues, promote macroeconomic coordination, and enhance political and economic cooperation. This week’s conference also featured discussions on expansion of bilateral trade and partnerships in key economic sectors. By the meeting’s end, the two economic giants signed 11 agreements enumerating over US$5 billion in direct investment. Continue reading
Nov. 29 – The Philippines has taken analysts by surprise by posting strong GDP growth figures for the third quarter this year, rising at three times higher than expectations. To date, the Philippines over the past two years has been one of the poorest performers in GDP growth among emerging Asian nations. However, both robust domestic consumption and strong exports have helped the country revive plans to achieve overall growth rates of 5 percent to 6 percent overall for 2012. Continue reading
Nov. 28 – China’s new passports, issued to PRC nationals traveling overseas, have included within them maps showing “Chinese” territories – which include disputed areas currently also claimed by India, Taiwan, Vietnam and the Philippines. The disputed areas include the entire Indian State of Arunachal Pradesh as well as Aksai Chin, a disputed area in the Himalayas patrolled by both Indian and Pakistani troops, in addition to a huge area of the South China Sea defined by the Chinese-derived controversial nine-dashed line. This includes UN designated international waters and also islands and reefs claimed by Vietnam and the Philippines, as well as Taiwan. Continue reading
Nov. 24 – A number of Asia Briefing’s China-based staff temporarily relocated from Shanghai to Delhi recently on a 10-day assignment to develop a better understanding of the Indian market and improve communications with Dezan Shira & Associates’ India offices. Asia Briefing, which is a wholly owned subsidiary of the Dezan Shira practice, publishes foreign investment titles for China, India, Vietnam, Russia and Mongolia, and has other Asian expansion plans in place, keeping in line with the continuing growth of the firm. Continue reading
Nov. 23 – Five pioneering individuals who are winners of this year’s Rolex Awards for Enterprise will be honoured at a prestigious event to be held in New Delhi on 27 November 2012. This marks the first time that luxury watchmaker Rolex has held the ceremony for the international philanthropic programme in India.
The Rolex Awards for Enterprise were created to foster a spirit of enterprise and advance human knowledge and well-being. Continue reading
Nov. 22 – Remittances into India are set to reach US$70 billion this year, outstripping China’s overseas remittances of some US$66 billion. These figures cover inbound monies sent by their respective diasporas back to their home country. The general trend across developing countries is seeing remittance inflows on the rise, with levels this year set to reach US$406 billion and projections indicating growth of 8 percent in 2013. This is further set to increase incrementally over the next few years and reach a total of US$534 billion by 2015.
Indians abroad, especially in the United States and Europe, have tended to fare rather better than their Chinese counterparts, and are also aided by the fact that greater transparency, a more highly-developed sense of entrepreneurialism, and freer movement of the rupee when compared to RMB restrictions all make the ability for NRI’s to out-compete their Chinese equivalents. Continue reading