Nair & Co.

The United Kingdom’s tax authority, Her Majesty's Revenue and Customs (HMRC), via a draft legislation, has proposed to increase the intrastat arrivals threshold from £600,000 to £1,200,000.

On July 29, 2013, the Chinese Finance Ministry (MOF) and the State Administration of Taxation (SAT) has announced VAT and business tax exemptions for small-sized businesses. The new measure has come into effect from August 1, 2013.

The Argentine government has made it mandatory for the taxpayers to use Argentina’s online tax return system (SIFERE) to submit their gross revenue reports to local authorities, starting from August 1, 2013.

The Australian government has announced an array of changes to the employment related financial thresholds, effective from July 1, 2013.

The Portuguese government has recently introduced an extraordinary investment tax credit with effect from July 17, 2013.

The Belgian government, in order to control the fiscal budget, has introduced a "fairness tax" on companies, says Nair & Co. which provides international tax consulting for companies expanding overseas.

The Russian Ministry of Finance has clarified that non-residents, including foreign directors of a Russian company, qualify as ‘highly skilled specialists’ under Russian Law.

Netherlands has recently introduced accelerated depreciation related provisions which are in effect from July 1, 2013.

Brazil has finally passed the long proposed Anti Corruption Law which will ensure that Brazilian and foreign companies with offices, branches or agents in the country are strictly liable for acts of corruption against public authorities

The Reserve Bank of India (RBI) has recently announced the reduction of Overseas Direct Investment (ODI) by a domestic company for setting up an unincorporated entity abroad, with immediate effect, says Nair & Co.’s International Expansion Team.