• India considers raising wage cap for Provident Fund (PF) and Employees’ State Insurance (ESI)
  The Finance Ministry is considering the proposal put forth before it by the Labor Ministry to raise the statutory wage ceiling for PF contributions to INR 15,000 per month.
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• India Likely to Amend Labour Laws
  The Planning Commission of India has recommended an overhaul of the existing labour laws in order to give a boost to the sagging manufacturing sector, says Nair & Co. which provides global HR services for companies setting up foreign operations.
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• India’s New Sexual Harassment Law for the Workplace
  A new law for the protection of women against sexual harassment at the workplace recently entered into force in India.
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• Indian Government Enacts New Company Law
  On August 29, 2013, the government of India has enacted a new company law which is likely to take effect in early 2014. The historic company law replaces the old Companies Act, 1956, that governed companies in India for nearly 60 years, says Nair & Co.’s International Expansion Team.
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• International Data Privacy Compliance
  For your International Data Privacy Compliance needs experience the Nair & Co. difference. Our integrated solution for HR, finance, tax & legal ensures your company has the coverage it needs to stay compliant at all times.
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• Mexico releases mandate for pre-merger approval and updates rules for digital tax receipts
  The Mexican government has passed new regulatory measures requiring approval before mergers, revising policy regarding tax receipts and defining “international firm”, among other changes, reports Nair & Co.’s Accounting and Expansion Teams.
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• Mexico releases mandate for pre-merger approval and updates rules for digital tax receipts
  The Mexican government has passed new regulatory measures requiring approval before mergers, revising policy regarding tax receipts and defining “international firm”, among other changes, reports Nair & Co.’s Accounting and Expansion Teams.
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• Mexico: Companies Handling Personal Data – Comply with Set Rules & Avoid Penal
  In a recent case, the Federal Institute for Access to Information and Data Protection (IFAI) of Mexico has imposed a penalty on Pharma Plus, S.A. de C.V. (engaged in drugstore operation trade) for breaching the personal data protection law, which came into effect on July 5, 2010.
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• Netherlands Proposes Tax changes for 2014
  The Dutch Finance Minister proposed its Tax Plan for 2014 to the parliament on September 15, 2013, reports Nair & Co.’s International Tax Services Team.
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• Netmagic launches software defined storage service
  Communications solutions firm Netmagic today today announced launch of its Tiered Secure Storage (NTSS). The firm claims it is India's first Storage-as-a-Service (SaaS), which provides metered IOPS for customers' mission critical applications.
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• Peruvian Government Likely to Introduce New Personal Data Protection Law
  The Peruvian Government plans to introduce a new Personal Data Protection Law to protect personal data in private and public databases within Peru.
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• Poland Amends VAT Regulations
  Poland has recently enacted most important VAT amendments which were previously approved in the year 2012. The new provisions are intended to reducing the tax burden, modifying tax procedures and adding new rules related to delivery of the goods or performance of the services, says Nair & Co.’s International Tax Services Team
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• Portugal Amends Income Tax Law
  Portuguese government recently approved the Corporate Income Tax (CIT) reform. The key elements of the reform offer simplification, increased competitiveness and decreased CIT. These new rules have come into force from 1 January 2014, reports Nair & Co.’s International Tax team.
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• Russia Adopts Amended Tax Code
  The Russian Government has recently amended Part I and Part II of the Tax Code. This new Federal law No. 306.FZ was enforced starting 2 April.
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• Russia Clarifies Regulations Related to Withholding Tax on Payments to Foreign Legal Entities
  The Russian government has clarified that a resident legal entity acting as a tax agent will not be allowed to pay Corporate Income Tax (CIT) due on behalf of a foreign legal entity that derives income in the country.
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• Russia Proposes New Transfer Pricing Deadlines: International Tax Consulting Team
  The Russian government has sent Draft Law No. 79859-6, which proposes to set new transfer pricing deadlines for taxpayers, for the second reading to the State Duma (the lower house of the Russian parliament). These changes may affect concerned business operating in Russia, says Nair & Co., which provides international tax consulting for companies expanding overseas.
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• Saudi Arabia Offers Tax Incentives to Increase Foreign Investment Inflow
  Conditional 10-year tax incentives are being offered by the Kingdom of Saudi Arabia (KSA). It has announced such incentives in six less-developed regions of the country - Hai'l, Northern Borders, Jazan, Najran, Al Baha and Al Jouf to invite Foreign Direct Investment (FDI).
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• South Korea Enacts Tax Revision Bill: Update from International Tax Compliance Services Team
  The South Korean government passed the Tax Revision Bill in January 2013, which brings in significant changes to corporate and individual taxation provisions, for companies and foreign nationals working in the country, says Nair & Co.’s International Tax Consulting Team.
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• Spanish Government Enacts New Law to Support Entrepreneurs and Internationalization
  The Spanish government has recently enacted what is commonly known as the “Entrepreneurs Law.” This new law offers SMEs incentives for reinvestment of their profits, amends existing patent laws and offers research & development tax breaks, reports Nair & Co’s International Business Services Team.
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• Sweden clarifies Permanent Establishment (PE) provisions in an Advance Ruling
  In a recent advance ruling, the Swedish Council for Advance Rulings has clarified rules regarding permanent establishment (PE) status for a foreign company.
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