BRISTOL, England -- (BUSINESS WIRE) -- Nair & Co., the leader in international business expansion and support publishes HR, regulatory, taxation and company updates for the current week.
Australia May Limit Employment-related Tax Benefits
The Australian government has made strides towards imposing restrictions
on certain employment-related tax benefits. This may include reforms in
Fringe Benefits Tax (FBT) and superannuation provisions, reports Nair &
Co.’s International Tax Team.
Read more at http://www.nair-co.com/Australialimitemploymenttaxbenefits-15-10-2013.aspx
Bahrain Reduces Foreign Worker Tax by 50%
The Bahrain government has given a go ahead to reduce fees levied on
foreign workers in an attempt to increase business activities of small
and medium enterprises (SMEs). The monthly fees will be reduced to BHD 5
(~USD 13) for each expatriate from BHD 10 (~USD 26) for companies
employing less than five workers. The reduced rates are effective as of
1 September 2013.
Read more at http://www.nair-co.com/BahrainForeignWorkerTax-16-10-2013.aspx
Italian Government Increases the VAT Rate to 22%
The Italian government has recently increased the standard Value Added
Tax (VAT) rate on goods and services to 22% (from the previous rate of
21%) with effect from 1 October 2013, though it was expected that the
increase in VAT rate would be postponed to 1 January 2014.
Read more at http://www.nair-co.com/ItalyIncreasesVATRate-11-10-2013.aspx
Malaysian Court Takes Actions Against Director for Failing to File Company’s Annual Return
The Petaling Jaya Magistrate Court of Malaysia recently convicted the
director of Srimas Klasik Sdn Bhd on two charges for failing to file the
companies’ Annual Return to the Registrar of Companies, the Suruhanjaya
Syarikat Malaysia (SSM). The court verdict includes a fine of RM600.00
or seven days imprisonment for each of the two violations.
Read more at http://www.nair-co.com/MalaysianCourtActionsAgainstDirector-10-10-2013.aspx
Spanish Government Enacts New Law to Support Entrepreneurs and Internationalization
The Spanish government has recently enacted what is commonly known as
the “Entrepreneurs Law.” This new law offers SMEs incentives for
reinvestment of their profits, amends existing patent laws and offers
research & development tax breaks. The primary objective of the law is
to promote self-employed business owners and small to medium enterprises
(SMEs) to expand their business operations into Spain.
Read more at http://www.nair-co.com/SpainNewEntrepreneurLaw-09-10-2013.aspx
International Business Guide
Nair & Co.’s “International Business Guide” is online platform featuring information on Employment Laws, Legal Entities, Payroll, Accounts, Corporate and Indirect Taxes for 40 highly sought after jurisdictions worldwide. The International Business Guide (IBG) caters to a need for timely and accurate business information, for companies wishing to optimize their multinational operations. Learn more about the IBG at https://ibg.nair-co.com
About Nair & Co.
Nair & Co., the leader in international business expansion services, provides accounting, HR, legal, tax and compliance services for the set up and management of your international operations. Our model of a single-point-of-contact, supported by internal teams of experienced advisors, helps clients expand business and manage risk so they can focus on their core business and sustain growth with minimal risk, stress and cost. We support nearly 250 clients in over 70 countries. Nair & Co. is headquartered in Bristol, UK, has 450 employees and offices in China, India, Japan, Singapore, and the US. Learn more at www.nair-co.com