Nair & Co., 1250 Oakmead Parkway,, Suite 210, Sunnyvale, CA
Nair & Co. provides an integrated solution in the HR, finance, tax, compliance and legal arenas making a company%u2019s overseas operations less risky, stress free and more strategic. It currently has 740 client operations in over 50 countries with offices in U.K., India, China, U.S., Japan and Singapore. Nair & Co. was named among the top 100 outsourcing service providers in the world by the International Association of Outsourcing Professionals (IAOP).
The Argentinian government has introduced a new electronic system i.e. the "Single Electronic Window of Foreign Trade" which will enable data transfer and tracking of international trade transactions and commercial information, between different government bodies in Argentina.
The South African government said it plans to ease cross-border financial rules and taxation requirements for companies in the recently announced national budget for 2013-2014. The tax provisions for pension, provident and retirement annuity funds are also expected to be synchronized and simplified, said Nair & Co., which provides international tax consulting for companies expanding overseas.
The Australian government has extended provisions regarding penalties for directors. The new director penalty regime makes directors personally liable in case their company fails to make certain compulsory payments or superannuation payments like tax withholding from employees' wages.
Know more about Norway's Plans concerning the changes in specific tax provisions, Sweden's Plans to introduce investment friendly measures, and the major changes in Netherland's tax plan for 2013 with Nair & Co., your ideal partner during international expansions.
Based on Internal Instruction nr. 27/2012, the Bank of Portugal (BdP) has set new statistical data reporting obligations, for resident individuals and companies, who make their entry into economic and financial activities in foreign countries.
In recently implemented amendments to Foreign Manpower Act (EFMA), Singapore has increased law enforcement capabilities of its Ministry of Manpower (MOM) and also redesigned the Personalized Employment Pass (PEP) scheme available to highly skilled foreign workers.
Hong Kong, along the lines of developed economies like Singapore and UK plans to implement a standard work week of 40-48 hours and an overtime pay of 50% of pay over and above normal pay. The proposed legislation has drawn flak as it is estimated to cost employers from US$1 billion to US$7 billion and affect a total of 2.8 million workers approximately.
In a string of recent decisions, the French Supreme Court has asserted that a parent company can be regarded as the co-employer of its subsidiary's employees and shares any liabilities that may arise from a restructuring process.
The tax authorities of Denmark have proposed reforms to indirect taxes which are likely to take effect in 2013. The draft law which is subject to the Parliament's approval will also avoid erosion of tax base by providing for indexation of tonnage tax based on inflation and wages.
Proposed Indirect Tax Revisions: Increase in Taxes
• Vehicle road tax and fuel tax;
• Tax on Piped
Hong Kong's Inland Revenue Department (IRD) has clarified that capital expenditure incurred by companies doing business in Hong Kong on the purchase of patents and know-how can also be deemed to include capital expenditure on the purchase of copyrights, registered designs and registered trademarks.
India' Central Board of Direct Taxes (CBDT) has extended the due date for filing of tax returns by a month to August 31, 2012 due to the recent power grid failure that disrupted normal life in many parts of the country.
France has announced it will, from October 1, 2012, remove an administrative concession that allows foreign companies without a local establishment to register and collect Value Added Tax (VAT) due by its customers under the reverse charge mechanism
Foreign companies that are beneficial owners of Korean-sourced income must now submit an application to their withholding agents before they receive any income, in order to claim any tax treaty benefits.
Singapore announced a cash grant for small and medium enterprises along with a slew of other announcements including a new scheme for enhancing productivity and innovation during its budget statement on February 17, 2012.
Nair & Co., the leader in international business expansion services, announced a record 40% growth in 2011 resulting from substantially greater demand for its outsourced accounting, payroll, compliance, legal and other consulting services.
The Brazilian Government recently announced new amendments to taxes on financial transaction regulations, which includes reduction of tax on foreign exchange transactions (Impostosobre Operacoes Financeiras - IOF) related to the inflow of resources within Brazil from 2% to zero. The rates are effective as of December 2, 2011.
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%.
HM Revenue & Customs (HMRC) intend to make electronic submission of Intrastat declarations mandatory. HMRC plans to amend the UK Intrastat legislation to withdraw the option to submit Intrastat declaration by paper. This measure is likely to take effect on April 1, 2012.
China's Ministry of Finance (MoF) and the State Administration of Taxation (SAT) issued a circular detailing Value Added Tax (VAT) incentives for software products and clarified certain implementation issues.
Nair & Co., the leader in international business expansion services, today announced Manoj George as the company's new CEO. George takes over the role from co-founder Dr. Shan Nair who will continue to be actively involved in the company at the strategic level and will also continue to be a member of the board.
Nair & Co., the leader in international business expansion services, will offer complimentary international expansion services to the "FASTech Favorite" award winner at the upcoming Dow Jones VentureWire FASTech conference.
Nair & Co., a leading global integrated solutions provider helping companies expand overseas, announced its participation as a diamond sponsor at the 9th Annual MIT Sloan CFO Summit, the nation's premier CFO event bringing together financial leaders from around the world and leading faculty from MIT.
Brazilian companies, which have direct participation of non-residents in their capital stock as on December 31, 2010, are now required to provide a declaration to the Central Bank of Brazil by November 1, 2011. The declaration should contain certain financial and other related details of the company.
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 hand. This provision was introduced by the Dutch Government to compensate them for specific expatriate costs.
The Italian Ministry of Economy has announced that it has approved the legislation of Law Decree no. 138 of August 13/2011 and Law Decree no. 148 of September 14/2011 which includes an increase in the rate of Value Added Tax (VAT) to 21% from the existing rate of 20%.
The Indian Ministry of Corporate Affairs has introduced a scheme which allows defaulting companies a chance to rectify non-compliances related to timely submission of documents (specifically balance sheets and annual returns) with the Registrar of Companies (ROC).
Nair & Co., a global integrated solutions provider helping companies expand internationally, today announced that the firm's CEO and Co-Founder, Dr. Shan Nair, will be presenting the inaugural Churchill Club Awards.
As the proposed Tax Reform Bill submitted to the Japanese Diet was not passed in its original form, the Amended Tax Reform Bill which includes Corporate Tax rates was approved and became effective on June 30, 2011.
New revisions to China's Individual Income Tax (IIT) Law increased the amount of monthly deductible income for Chinese nationals to RMB3,500, the deductible income for foreign remains the same at RMB 4,800.
Nair & Co.'s Co-founder and CEO, Dr.Shan Nair will be presenting the keynote address at the National Association of State Boards of Accountancy's (NASBA) fourth annual International Forum on Monday, July 25, 2011.
The UK Bribery Act 2010, which came into force on July 1, 2011, enhances sentencing power of courts and raises the maximum sentence for bribery committed by an individual from 7 to 10 years imprisonment and/or with unlimited fine.
China recently issued a draft detailing Information Security Technology Guidelines for Personal Information Protection, the latest in a series of efforts to address rising data privacy concerns amongst locals and corporations in the country.
Nair & Co., a global integrated solutions provider helping companies with international expansion plans, today announced that it is compliant with the Statement on Standards for Attestation Engagements (SSAE) No. 16.
The German Finance Ministry released new rules which further strengthen the existing anti-money laundering law on voluntary disclosure. The Federal Council also approved the draft bill on combat of tax evasion.
Vyoma Nair, co-founder of Nair & Co., a firm that helps companies expand internationally, has been recognized as one of Silicon Valley's '2011 Women of Influence' by the Silicon Valley/San Jose Business Journal.