• International Project Management Leadership Conference [PML 2012]
  Kovair is very pleased to participate, as a sponsor, in the 7th Annual International Project Management Leadership Conference [PML 2012] at Delhi, India, 18 May 2012.Kovair welcomes you to its booth to obtain rich information about its cutting-edge Project Management solution.
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• French Companies to Pay Compulsory Dividend Bonus to Employees
  France has passed legislation enforcing French companies to disburse a bonus to their employees when dividend paid to shareholders exceeds the average of last two fiscal years and when such companies’ employee count is 50 or more.
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• China Intensifies Effort to Implement Collective Wage Bargaining Practices by 2013
  The Chinese Government and the All-China Federal Trade Unions (ACFTU)are escalating efforts to promote collective wage bargaining amongst corporations, especially multinationals operating in the country.
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• India Budget 2012: Highlights
  India moved to close loopholes in the country’s tax laws with the introduction of General Anti-tax Avoidance Regulations (GARR), rationalizing definitions of international transactions and introduction of many new penalties for tax avoidance, non-compliance, and unaccounted money, in its budget 2012.
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• Federal Income Tax & International Tax Compliance for Individuals
  Attend this webinar to get an insight into the tax code that applies to Resident Individuals in the United States, including Green Card Holders and US Citizens.
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• EU- India Expected to Finalize Free-trade Agreement in 2012
  The European Union and India have advanced negotiations on the free-trade agreement which is expected to be finalized by the end of 2012
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• Bribery convictions china, internal audit compliance, international expansion, doing business overseas
  China’s major investigatory and prosecutorial division - Supreme People’s Procuratorate (SPP) along with other PRC anti-corruption organizations declared the availability of a centralized database of individuals and companies charged with bribery offenses to the public
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• Supreme Court Ruling to Impact Companies Employing UK Expats
  The UK Supreme Court has ruled that employees of UK companies who worked outside the UK could raise a claim of ‘unfair dismissal’ in a UK employment tribunal, signifying far reaching implications for companies that employ UK expats.
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• India Clarifies Trademark Rules for Pharmaceuticals
  The Indian government has released a list of international non-proprietary names (INN) as recognized by the World health Organization, which cannot be registered as trade marks for pharmaceutical products.
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• Nair & Co. Appoints Former Ambassador Sir Alan Collins as its Non-Executive Chairman
  Nair & Co., the leader in international business expansion services, has appointed Sir Alan Collins KCVO CMG as its non-executive Chairman, the company announced on February 28, 2012.
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• Mexico - Electronic Reporting of Customs Information Mandatory from March 1
  February 10, 2012 - Recent modifications to Mexico’s foreign trade rules make it mandatory for export and import businesses to file information regarding customs transactions electronically.
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• China extends import tax exemption & VAT refunds for foreign R&D centers
  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.
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• Income Tax Hike for Dormant Companies in Italy
  Dormant companies in Italy will be paying a higher corporate tax rate in 2012 as per the new Italian tax law. Companies that can be considered ‘dormant’ will have to pay 38% corporate income tax (IRES) tax rate next year compared to the current rate of 27.5%.
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• Expat Tax Regime in Netherlands To Be Modified
  The Dutch State Secretary for Finance, recently announced that changes would be made to the ‘30% ruling regime’ for expatriate employees in the Netherlands, which is expected to come into effect in 2012. Expatriate employees in Netherlands, working on a temporary basis can avail of “the 30% ruling regime”, resulting in a 30% tax free employment income in their hands. This provision was introduced by the Dutch Government to compensate them for specific expatriate costs.
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• Netherlands : Employees of Foreign Companies to Pay Lesser Income Taxes
  Expatriate employees in Netherlands, working on a temporary basis can avail of “the 30% ruling regime,” resulting in a 30% tax free employment income in hand. This provision was introduced by the Dutch Government to compensate them for specific expatriate costs.
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• Profit Repatriation from China to US: Is Your Cash Stuck?
  An increasing number of companies with profit-generating trading entities in China are finding it difficult to repatriate their accumulated reserves to the US via dividends.“The release of foreign exchange by China authorities is an issue, companies are frustrated with as they are not able to get cash out,” said Dr. Shan Nair, CEO and Co-founder of Nair & Co., a global services firm that helps companies expand internationally.
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• China’s Labor Union Movement Affecting Foreign-Invested Enterprises
  China’s state-run All China Federation of Trade Unions (ACFTU) has announced it aims create labor unions in 65% of the country’s foreign-invested enterprises by the end of the year 2011 and increase the percentages to 78% by 2012 and 90% by 2013. The enforcement campaign is affecting companies with subsidiaries in the PRC as some face increased costs in complying with the labor union requirements,” said Dr. Shan Nair, CEO and Co-founder of Nair & Co., a global services firm that specializes in helping companies expand overseas.
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• Different Stock Options/ESPP law a pain for companies operating overseas?
  Nair & Co. offers an integrated one point of contact solution to better protect you and your company. Be assured that finance and administration support to your foreign operations is provided efficiently and you operate safely abroad.
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• Centralizing international payrolls results in significant efficiencies
  Centralizing the running of international payrolls can result in significant efficiencies despite the fact that local taxation, social security retirement provisions and treatment of stock options and ESPP vary widely from country to country. Nair & Co. helps clients achieve these efficiencies of scale.
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• IFRS- the universal language of accounting
  In the U.S., the SEC is deliberating on either giving U.S. companies the option of switching from the U.S. GAAP to IFRS or to mandate the conversion as it prepares to release its road map for convergence between the two. Nair & Co. generally maintains accounting books to the parent company’s chart of accounts. In additionNair & Co. maintains a parallel set of accounting books in local GAAP.
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