• 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 IaaS leader adds Clout to Cloud, Launches Enterprise-Grade Cloud Services
  Netmagic Solutions, India’s largest pure-play managed IT hosting services firm and leader in the Cloud Infrastructure (IaaS) market, today, launched the third generation of its enterprise-grade on-demand public cloud services - SimpliCloud (Cloud Services on Public Internet), HybriCloud (Public Cloud Services extended to an enterprise’s dedicated IT infrastructure over secure VPN) and Private Cloud (Dedicated Cloud Services for an enterprise).
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• Indiaplaza.com brings in Christmas gifting ideas at attractive prices
  Let Indiaplaza play Santa this Christmas! Log on to Indiaplaza.com, the pioneers of online shopping in India since 1999, and express your love with an exciting array of gifts. From exclusive Christmas hampers to special cakes, chocolates and flowers, brownies & cookies, decoratives and books…the choice is endless.
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• Indiaplaza.com launches largest e-commerce affiliate program in India
  Indiaplaza.com, the pioneers of online shopping in India since 1999, has announced the launch of Indiaplaza Affiliate Program. The program, gives all its users a chance to earn money by referring their friends, is one of the largest e-commerce affiliate programs in India.
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• Indonesia Introduces 1% Tax on Gross Revenue for Small & Medium Enterprises
  Nair & Co. which provides international tax consulting for companies expanding overseas finds out that the Indonesian government regulation No 46 Year 2013, excluding permanent establishments, was issued on June 12, 2013.
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• Industry Cheers Vodafone Win against a $2.2 billion tax bill
  India's Supreme Court on Friday ruled in favor of Vodafone Group’s appeal against a $2.2 billion tax bill on its purchase of a 67% stake in India's Hutchison Essar Ltd.
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• Industry’s Leading Application Retirement Solution
  Solix Technologies’ comprehensive Data Management Platform used in conjunction with Sybase IQ will help customers enforce data governance across active and legacy applications in a consistent fashion to drive application portfolio management with reduced costs, data security, and compliance.
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• Informal Complaints in Australia – A Work Place Right
  Do you face physical and mental health problems at work or you are depressed, bored, frustrated or just plain weary! In Australia informal complaints can be made to the employer and this is considered a “workplace right” of any employee.
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• Inhouse E-Discovery Platform helps Time Warner accelerate ECA
  Clearwell Systems, Inc., a leader in intelligent e–discovery, today announced that Time Warner, a global leader in media and entertainment, has commenced deployment of the Clearwell E-Discovery Platform for its in-house e-discovery strategy. E-discovery refers to the process in which electronic data is discovered in civil litigation.
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• Ireland to Reduce Frequency of Tax Returns & Payments for Certain Businesses
  Ireland to Reduce Frequency of Tax Returns & Payments for Certain Businesses
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• Ireland: Taxpayers to Submit Financial Statements in Inline eXtensible Business Reporting Language Format
  The revenue department of Ireland declared that it will provide taxpayers the option of submitting financial statements in Inline eXtensible Business Reporting Language (iXBRL) format through the upgraded Revenue's On Line System (ROS), to make the inspection process efficient.
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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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• IT hosting services company gets CERT-In empanelled as an IT Security Auditing Organization
  India's largest pure-play managed IT hosting services company, Netmagic Solutions, announced that it is now empanelled as an IT Security Auditing Organization with CERT-In (Indian Computer Emergency Response Team).The empanelment also empowers Netmagic to carry out IT security audits, including vulnerability assessment and penetration testing of the networked IT infrastructure of various Government organizations.
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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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• Italy Presents New Measures for Financial Stability
  Italy has recently announced measures to ensure the financial stability of the economy.
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• Japan and UK Agree in Principle to Amend Current Tax Convention
  The governments of Japan, the UK and Northern Ireland have agreed in principle on a draft legislation to amend the current tax convention which took effect in 2006.
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• Japan Budget 2013 - Amendments to Transfer Pricing Regulations, Withholding Tax, SME Expenses and Taxation
  The Japanese cabinet has approved several reforms which include changes to corporate, individual and international taxation, in order to stimulate the economy says, Nair & Co., which provides international tax consulting for companies expanding overseas.
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