• Argentina Approves Tax Amnesty on Unreported Foreign Currency: Update from International Tax Compliance Services Team
  The Argentinean Government has approved new Tax Amnesty in bid to encourage investors to declare non-reported foreign currency either within or outside the nation, says Nair & Co. which provides international tax consulting for companies expanding overseas.
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• Australia Firms up Penalties for Unauthorized Employment: International HR Services Team
  Australian government has introduced new provisions subjecting businesses and corporate employees to harsher penalties like compulsory civil penalty for employing unauthorized expatriate employee and individual liability for noncompliance, respectively.
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• Australia Increases Minimum Wages: International HR Services Team
  The Australian government has announced in their Annual Wage Review to hike minimum wages, says Nair & Co. which provides Global HR services for companies setting up foreign operations.
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• Australia to implement altered privacy law from March 2014
  Are you aware of the modifications to Privacy Laws in Australia? A change to the privacy laws in Australia is likely come into force from March 21, 2014 providing a new definition of ‘personal information’.
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• Beijing Introduces Mandatory Non-Criminal Record Certificate for Foreigners: International HR Services Team
  Foreigners who wish to seek authorization to work in Beijing would be under the obligation to provide a legalized police clearance certificate from their home country as of July 1, 2013.
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• Belgium Budget 2013 Bill Concerns Miscellaneous Tax Provisions
  Nair & Co. which provides international tax consulting for companies expanding overseas lays down some of the most significant provisions of the Budget Bill.
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• Brazil Authorises e-filing of Import Information for Certain Items: Update from International Expansion Team
  From May 1, 2013, Brazil has mandated the electronic submission of imports related information for certain goods and services entering the country.
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• Brazilian Government Alters RIOF to Boost Economy
  With an aim to boost the inflow of finances and diminish the risk of the depreciation of the Brazilian currency-the Real against the US dollar and reduce inflationary pressures, the finance minister Guido Mantega introduced pertinent changes in the tax law on Financial Transactions Regulations (‘RIOF’) on June 5, 2013.
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• Canadian Government to track US Firms Evading Taxes: Update from International Tax Compliance Services Team
  US companies which look at Canada for expansion ought to be aware that they could have a tax exposure here. Canada considers the presence of US employees or even contractors on its behalf as “carrying on business in Canada”.
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• China and Netherlands Sign New Tax Treaty to Encourage Investment
  The People’s Republic of China and the Netherlands have signed a new tax treaty on May 31, 2013 which is expected to replace the current tax treaty (signed in 1987).
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• China and Netherlands Sign New Tax Treaty to Encourage Investment
  The People’s Republic of China and the Netherlands have signed a new tax treaty on May 31, 2013 which is expected to replace the current tax treaty (signed in 1987).
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• Finance Minister Gets Tough with Indirect Tax Evaders
  In a harsh message to indirect tax evaders, the Indian finance minister P. Chidambaram has said that the revenue department will target around 12 lakh service tax assesses who have stopped filing returns.
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• France Issues Tax Regularisation Circular
  The French Finance Ministry via a circular issued on 21st June, has laid down certain norms for the treatment and tax consequences applicable to individual French taxpayers, who voluntarily want to regularise their tax situation with respect to untaxed offshore accounts.
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• France Proposed to Amend Transfer Pricing Regulations
  The French Finance ministry has recently published a report recommending various new measures to fight transfer pricing regime abuses.
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• Go Phishing at Hacker Halted 2012
  Phishnix, a leading Phishing Diagnostic Solution, will be showcasing its new phishing game at the upcoming Hacker Halted Summit 2012 in Miami, Florida. Phishnix is an innovative product that helps customers do a behavioural analysis of users against a phishing attack. It simulates a phishing attack and determines who fell for the attack and trains them to avert attacks.
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• IMF upgrades British growth forecast higher to 0.9% in 2013
  The International Monetary Fund (IMF) has lifted its economic growth forecast for Britain to 0.9 per cent from the earlier 0.7 per cent.
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• India Hikes Debt Limits by $5 Billion for Long-term Foreign Investors: Update from International Expansion Services Team
  The Indian government has raised debt limits for long-term foreign investors in order to stabilize the debt market. In the past 2 weeks $3 billion were drained from the debt market weakening the rupee rapidly as global investor started taking their investments.
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• India Liberalizes FDI Norms for Multi-Brand Retail Sector to Attract Foreign Investment
  The Indian Government, in a renewed attempt to attract foreign investment, has liberalized norms for foreign investment, sourcing and location in the Multi-Brand Retail Trading (MBRT).
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• Ireland Introduces Changes to Immigration Regulations with the Aim to Attract Business: International HR Services Team
  The Irish government has announced easing of employment requirements to help employers get access to skilled non-EEA (European Economic Area) candidates with the aim of becoming Europe’s internet capital.
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• Mexico mandates e-invoicing
  Taxpayers in Mexico with a turnover exceeding MXN 250,000 a year mandatorily require to issue electronic invoices from the year 2014. This will be required for both inbound and outbound invoices announced the Tax Administration Service on July 15th.
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