Nair & Co.

Australia’s Intellectual Property Amendment (Raising the Bar) Bill was converted into law on April 15, 2012, streamlining the process of applying for trademarks, opposing a trademark application and trademark infringement proceedings.

The Australian Occupational Health & Safety (OHS) law recently underwent a series of changes, violations of which could result in fines of up to $600,000 and/or imprisonment of up to five years for corporate as well as individual executives.

India’s Central Board of Direct Taxes (CBDT) in a recent notification has provided detailed information that foreign companies with representative or liaison offices must provide to tax authorities in accordance to a 2011 tax law amendment.

China Plans to Extend VAT Pilot Scheme to Beijing in July China’s pilot scheme for VAT which is intended to replace the current business tax in Shanghai is likely to be extended to Beijing in July, this year.

The Inland Revenue Department (IRD) announced that it has changed its stance on the long disputed tax deduction of inter-group recharge of employee stock options.

Finland has outlined tax measures spanning 2013-2016 that include R&D incentive rates, increase in VAT rates and updates on Corporate Taxation updates.

Belgium published a Decree on Advance Tax Payments by Self Employed persons and companies in March 2012 that defines when the advance tax payments are due and the tax surcharge rates incase insufficient payments are made. As per the Decree

UK’s annual budget revealed a string of tax measures including a reduction in business tax to 24% with further 1% cuts announced until 2014, while the top personal income tax rate will be reduced to 45% from 50% in 2013.

The German finance ministry has delayed the launch of its new electronic income tax tracking system owing to technical problems.

Chinese authorities have recently announced that the import tax exemption on purchases of certain R&D equipment and devices by foreign invested R&D centres would continue.