As of November 1, the Ministry of Finance increased tax thresholds for both VAT and Business Tax as part of a long-term effort to reduce taxes on business across China.
On December 14, the EU Parliament approved the long-debated Single Permit Directive which will allow third-country workers from outside the European Union to apply more easily to live and work in member states.
The guidelines issued last year (the DGT 43) have recently been amended by DGT 32, which provides additional guidance to taxpayers in the application of the arm’s length principle in Indonesia.
According to a November announcement from the executive committee of China’s State Council, Shanghai will spearhead a pilot VAT reform initiative on January 1, 2012. The program is part of an effort to ease the significant problem of indirect taxation in China and incent the services industry (in particular) by reducing the tax burden.
As the year winds down, a recap of some notable developments in the UK seems in order. Previously announced in the March budget and confirmed in the summer Finance Bill, the following changes are now in place:
Foreign workers and their employers should be advised that the Australian Tax Commissioner gave notice in the Government Gazette of November 16, 2011 that he has requested names and addresses of persons granted Temporary Visas between July 1, 2008 and March 31, 2011 from the Department of Immigration and Citizenship.
