A new China tax incentive aims to encourage companies to invest in digital and smart upgrades of special equipment. Companies upgrading certain equipment that aids environmental protection and safe production can enjoy a deduction of the investment at a rate of 10 percent from their corporate income tax payable. We explain the requirements of the … Read more
Vietnam’s draft Corporate Income Tax (CIT) Law proposes changes to incentive eligibility, taxation on capital transfers by foreign investors, and aims to address limitations hindering integration with international best tax practices. Investors and businesses planning market entry or expansion should closely monitor the draft CIT law’s development and prepare for potential impacts on their strategies … Read more
A pedestrian leaves the entrance of the headquarters of the Federal Board of Revenue (FBR) building in Islamabad — AFP/File Focus on growth, not taxes. Vietnam’s standard corporate tax rate is 20 per cent and preferential tax rates are as low as 10 per cent, depending on factors like investment size and location. High-tech enterprises … Read more
Despite some significant positive changes in the proposed budget, foreign investors in Bangladesh still have major concerns about the effective income tax rate, which exceeds 40% in some cases, leaders of the Foreign Investors Chamber of Commerce and Industry (FICCI) said. “Despite the decrease in the corporate tax rate, the effective tax rate here in … Read more
Finance Minister Abul Hasan Mahmood Ali proposed income tax exemption for freelancers in the proposed 2024-25 financial year budget. “As a supporter of building Smart Bangladesh, I propose to exempt from tax the income arising from any of the following business activities of a resident individual or a non-resident Bangladeshi natural person, for three years, on … Read more
Anisur Rahman, a 24-year-old Bangladeshi national, died on April 10 after jumping off a fifth-floor balcony during a police raid on the Limassol apartment he was living in with 10 other individuals. The ombudswoman’s independent investigation into his death has been put on hold as the police file was denied to her and is being investigated by an independent authority following a complaint by Kisa NGO. The other individuals found living in Cyprus illegally are detained for possible witness testimony. The landlord of the apartment where Rahman lived has not been found at fault and other tenants continue to live there. Rahman’s death sparked protests in Limassol and Nicosia against racism faced by third-country nationals in Cyprus.
Tax rates for publicly-listed companies may remain unchanged in the upcoming fiscal year, with some changes in parlance that could affect the availing of lower tax rates. The base rate may see a rise for publicly listed companies, but compliance with cashless transactions could bring it back down to existing rates. Listed companies with free float up to 10% and above with cashless transactions would have tax rates of 20% and 22.5%. Noncompliance with the cashless transaction limit would result in higher tax rates. The government may also impose capital-gain taxes on individual investors for the first time if profits exceed Tk 4.0 million. The tax gap between listed and non-listed companies may be reduced by cutting corporate tax rates for non-listed companies by 2.5%. Capital-market experts believe that higher taxes and reducing the tax gap between listed and non-listed companies could discourage companies from entering the capital market. The government should focus on simplifying investment procedures rather than increasing taxes on the capital market.
Shell expects its Australian supplies of liquefied natural gas (LNG) to help meet demand from emerging markets in south and southeast Asia, which are tipped to absorb some of the pick up in global supplies towards the end of this decade.
Fact: Seven chief heat officers, all women, are working in cities like Miami, Melbourne, Dhaka, Freetown, and Athens to cool urban heat traps and prevent deaths caused by extreme heatwaves.
On May 17, 1900, a small British cavalry force relieved the garrison at Mafeking after a 217-day siege by Dutch-speaking Boer settlers.