China’s socialist-oriented economy provides access to over 3.5 billion consumers and serves as a crucial gateway to one of the most dynamic markets in the world. Business and Financial centres such as Hong Kong, Singapore and Shanghai attract world-wide companies, by merit of their business-friendly environment, excellent education, political strength and superior tax policies.
In today’s society, many companies are driven to establish their businesses in foreign markets, through seeking international growth. This is because going global offers enormous different opportunities such as expanding business market share and diversification.
UAE’s vision of 2020 has been calling for all types of objectives, from decision pattern to building investment. However, only recently measures have been taken aimed at improving Dubai’s economy even more than before.
The OECD/G20 Inclusive Framework on Base Erosion and Profit Shifting (BEPS) and its 108 members tackles tax avoidance by ensuring the implementation of the measures agreed through the BEPS Project, which targets multinational enterprises’ aggressive tax planning practices. In particular, four “minimum standards” are at the core of the BEPS measures: harmful tax practices, treaty abuse, country-by-country reporting and dispute resolution mechanisms.
This May the executive meeting of the State Council, chaired by China’s Premier Li Keqiang, has decided to reduce again the tariff on certain kind of imported consumer goods. This is the fifth tariff adjustment in four years for daily life consumption product: the new regulation will start from 1 July 2018 and will cover a wide range of daily life products. More specifically, it involves a number of 1,449 items, from products such as clothes and cosmetics to washing machines.
UK: Research and Development (R&D) Tax Credits are a UK tax incentive designed to encourage companies to invest in R&D. It can even be claimed on unsuccessful projects.
Companies can REDUCE CORPORATION TAX or CLAIM PAYABLE CASH CREDITS as a proportion of their R&D expenditure.
SINGAPORE: Financial Technology is transforming financial services in a way not seen before: mobility, connectivity, digital payments, blockchains, big data… are just few of the new FinTech challenges and possibilities.
SINGAPORE: Singapore and Vietnam have signed a set of Memoranda of Understanding (MOU) to work together in different areas, from financial to renewable energy industry, through environmental protection and trade rules.
The EU regulation 2016/679 on the protection of personal data of natural persons (GDPR) will become binding from the 25th of May 2018.
The new GDPR introduces important innovations: it is not a simple update of the forms, but a general rethinking of its policy of processing personal data, with sanctions substantially increased for those who disregard it.