GST Audits in India, Vietnam’s Free Trade Agreements – China Outbound
Our weekly round up of other news affecting foreign investors throughout Asia.
The ten member states of the Association of Southeast Asian Nations (ASEAN) have seen a steady inflow of German investment in recent years. Current trends are expected to continue in the coming years.
We looked at German investment in Brunei and Cambodia in the first part of this five-part article, covered Indonesia and Laos in the second part, focused on Malaysia and Myanmar in the third part while looking at the Philippines and Singapore in the fourth part. We now focus on Thailand and Vietnam in this concluding part of the article.
The Goods and Services tax (GST) system requires taxpayers to self-assess their tax liability and pay their tax without any intervention by the tax authorities. The law provides for a robust audit mechanism to measure and ensure compliance by the taxable person.
In this article, we discuss the types of audit available under the GST regime in India and how to manage them.
Russia’s Central Bank purchased another 55.3 tonnes of gold in the first quarter of 2019, bring their total reserves in the metal to 2,163.8 tonnes, and 17% of total reserves.
China followed suit, buying 33 tonnes over the same period. Russia bought 274.3t last year — the fourth consecutive year of +200t increases – while drastically reducing its US Treasury holdings, as part of its ‘de-dollarization’ drive” according to the World Gold Council.
step forward with Uzbek President Shavkat Mirziyoyev signing a decree worth US$1.66 billion and covering 15 projects to foreign investors under public-private partnership (PPP) deals.
Included in the PPP offerings are the modernization of Tashkent airport, a US$470m project, and the construction of a US$600m 100MW power station near Samarkand. There are smaller projects to build toll roads, update other regional airports and improve municipal rubbish collection systems.
Over the past few years, Vietnam has been active in signing bilateral trade agreements with countries throughout the world.
Additionally, due to its membership in the Association of Southeast Asian Nations (ASEAN), Vietnam has become a party to several FTAs that the regional trade bloc has signed.
China Briefing is produced by Dezan Shira & Associates. The firm assists foreign investors throughout Asia from offices across the world, including in Dalian, Beijing, Shanghai, Guangzhou, Shenzhen, and Hong Kong. Readers may write to firstname.lastname@example.org for more support on doing business in China.