• Vietnam Makes Reporting of High Value Transactions Compulsory: Update from International Expansion Team
  The Vietnamese government has passed a new resolution making sure that any transaction of more than US $14,250 (VND300 million) must be notified to the central bank i.e. State Bank of Vietnam, says Nair & Co. which provides international expansion services for companies setting up foreign operations.
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• Canada Mandates Use of ‘Clear and Simple Language’ in Termination Clauses in Service Agreements
  The Québec Apex Court has recently rendered a verdict which prescribes Quebec Service providers and their clients to use transparent “Termination Clauses” in Service Agreements.
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• CARF permits payments under employee profit-sharing plans for deduction: Update from International Expansion Team
  Employers can claim deduction for corporate income tax purposes for the payments made to employees through profit-sharing plans, regardless of their designation or participation and approval from Labour Unions as long as they comply with the general tax requirements for expenses to be deductible, reveals the ruling published by the first section fourth chamber of the Administrative Tax Appeals Council on March 6.
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• India Imposes Restrictions on Currency Futures and Options Trading by Banks
  The Indian Central Bank, the Reserve Bank of India (RBI) has barred banks from trading in currency futures and exchange traded currency options market in a bid to stem the declining value of the India Rupee (INR).
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• Phishnix Named Finalists in Info Security Products Guide’s Global Excellence Awards
  Is your organization vulnerable to phishing attacks? Aujas Phishnix provides phishing awareness training programs for your employees and creates a prioritized action plan to mitigate possible threats.
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• Sweden Proposes Domestic Tax Changes in 2013 Budget: International Tax Services Team
  The Swedish Ministry of Finance has circulated a memorandum seeking consultation on the proposed domestic tax changes in the 2013 budget bill. The proposed measures, once approved, may take effect from January 1, 2014 and will retrospectively apply to the tax years commencing post December 31, 2013.
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