Tax & Accounting Blog

China: 1 year transition for e-commerce

China: 1 year transition for e-commerce

By Yanchen Zhou On 24 May 2016 , subject to State Council’s approval, China’s General Administration of Customs (GAC) announced the new administration rules (Shubanfa [2016] No.29) in the transitional period for cross-border e-commerce retail import. Suppliers of goods to Chinese consumers had been worried about how the new regulations could impact their bottom line … Read More

Good Taxpayer, Get a Reward…

Good Taxpayer, Get a Reward…

Delhi’s Commercial Tax Office released an order creating a “Reward/Appreciation Scheme” for Good dealers. In India, state level value added tax provides a considerable amount of revenue, in the case of the National Capital Territory it provides 65% of the total collections. The value added tax is most commonly paid by retailers of goods where … Read More

Global Trade Trends with Taneli Ruda: Mexico’s Auto Plan

Global Trade Trends with Taneli Ruda: Mexico’s Auto Plan

The automotive industry is the engine—the V8, 440-horsepower manual transmission engine with overdrive—of Mexico’s industrial growth, and this looks to be the new state of play for the famously export-dependent country. The relationship that the auto industry has with Mexico’s economy is strikingly balanced: There is a mutual dependence that exemplifies what free trade and … Read More

Hong Kong Publishes Amendment Ordinance Encouraging Multinationals to Establish Corporate Treasury Centers

Hong Kong Publishes Amendment Ordinance Encouraging Multinationals to Establish Corporate Treasury Centers

On June 3, 2016, Hong Kong issued a press release saying that the Government published the Inland Revenue (Amendment) (No. 2) Ordinance 2016 (the Amendment Ordinance) in the Gazette. The purpose of the Amendment Ordinance is to encourage multinationals to establish corporate treasury centers in Hong Kong. The Amendment Ordinance allows, … Read More