• India Releases Final Version of MCA XBRL Validation Tool
  Indian Ministry of Corporate Affairs has released the final version of MCA XBRL Validation Tool. Effective since October 14th, 2012, XBRL filings of financial statements have been enabled on Ministry of Corporate Affairs website for accounting years beginning on or after April 1st, 2011.
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• India Reviews Privacy Protection Regulations
  Indian authorities including Center for Internet and Society (CIS), the Federation of Indian Chambers of Commerce and Industry (FICCI) and the Data Security Council of India (DSCI) recently hosted a privacy roundtable event to discuss the Privacy Protection Bill.
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• India Revises Tolerance Band for Transfer Pricing: Updates from International Tax Consulting Team
  The Indian government in a recently issued notification has modified the “tolerance band” for the Assessment Year 2013-14 which will ascertain arm’s length pricing for international payments between related parties.
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• India Tax Update: Taxpayers Paying Service Tax beyond Rs. 25 Lakh must File Monthly Returns
  Taxpayers paying service tax of more than INR 25 lakh will now be required to file returns on a monthly basis, instead of twice in a year. The new regulation will not only facilitate better audit but also furnish the government with monthly data on service tax collections.
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• India- FIPB clears 8 FDI Proposals worth Rs 1311 crore: Update from International Tax Compliance Services Team
  The government announced its approval for eight foreign direct investment (FDI) proposals worth around Rs 1,311.54 crore based on the suggestion of the Foreign Investment Promotion Board (FIPB) in its meeting held on June 14.
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• India: Documentation for Foreign Exchange Remittance Eased
  With an aim to liberalize documentation requirements, the Reserve Bank of India (RBI) has raised the limit for foreign exchange remittance for miscellaneous purpose without documentation process to US$25000 from US$5000.
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• Indian Court Allows Company to Shift Service Tax Liability
  In a milestone verdict, the apex court of India held that an assessee of service tax may enter into a contract with another party to shift liability. This case involved Rashtriya Ispat Nigam Ltd and M/S Dewan Chand Ram Saran where the Supreme Court read out the verdict in favour of the former.
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• Indian Ministry of Finance Proposes Amendment to Budget 2012-13
  Nair & Co has come up with new Press release , highlighting proposed amendment to the Union Budget of 2012-13 by Indian Ministry of Finance . Read the complete Press release to know more about the proposed revisions.
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• International Business Expansion
  In this webcast, Nair & Co.'s co-founder Dr. Shan Nair speaks on the opportunities and challenges of doing business overseas. The webinar provides detailed information on international policies, compliance, HR, tax and legal aspects that matter to your business.
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• International business expansion weekly highlights
  Nair & Co., the leader in international business expansion and support publishes HR, regulatory, taxation and company updates for the current week.
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• International Business Guide - Helps Expanding into Global Markets
  Nair & Co.'s International Business Guide is an online platform featuring Employment Laws, Legal Entities, Payroll, Accounts, Corporate and Indirect Taxes across 40 key jurisdictions worldwide.
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• International Business Services – Essentials To Make Your Expansion A Success
  Understanding the reasons for expanding business overseas can help you focus on the areas that you may need help. However, with a little prudence and guidance businesses can taste big success.
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• International Expansion Services in Portugal – Know About the New VAT Scheme
  Expanding your business internationally is no easy feat. All necessary information cannot be garnered from random internet researches and reading through case studies.
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• International Tax Update: Argentina Mandates Online Tax Return System
  As of August 1, 2013, the Argentine government has made it mandatory for taxpayers to use Argentina’s online tax return system (SIFERE) to submit their gross revenue reports to the local authorities.
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• Israel Announces Work Permit for Short Term Employment
  As per a recent informal announcement made by the Israel Work Permit Unit, experts and managers from countries that have signed an agreement with Israel are now allowed to work in Israel for up to 30 days on a B/2 Business Visa, reports Nair & Co. a provider of global HR services for companies with international operations.
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• Israel hikes VAT to Record High 18%: Update from International Tax Compliance Services Team
  The Israeli Government has raised value-added tax rate (VAT) to 18% from 17%. In the light of the growing budget deficits, the Israeli Tax Authority expects to generate more revenue from the increase in tax and close the widening gap, says Nair & Co.’s International Tax Consulting Team.
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• Israeli Government Approves Budget 2013-2014
  The Israeli government has approved the Budget for the fiscal year 2013-2014, announcing significant changes to both individual and corporate tax regulations. The provisions related to tax rates will take effect as of January 1, 2014.Read the press release to learn more about the key highlights of the proposal.
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• 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% with effect from 1 October 2013, though it was expected that the increase in VAT rate would be postponed to 1 January 2014, reports Nair & Co.’s International Tax Consulting Team.
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• Italian Government Introduces Withholding Tax on Inbound Wire Transfers
  The Italian government recently introduced legislation ordering all banks to withhold 20% on certain inbound wire transfers. The inbound wire transfers affected include income earned from foreign investments, financial gains, interest, dividends and certain other incomes, made into personal bank accounts in Italy.
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• Italy Permits VAT Payments on Cash Receipt Basis
  Italy introduces VAT Cash Accounting Scheme allowing VAT payment on cash (receipt) basis with effect from 1 December 2012. It is mandatory for the taxable person to indicate in invoices, if the cash accounting scheme has been applied.
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