Investing in Brunei, Science and Technology Incentives in Vietnam – China Outbound
Our weekly round up of other news affecting foreign investors throughout Asia.
Brunei is an oil-rich independent country which relies on exports of crude oil and natural gas. Its revenues from the petroleum sector accounts for over a half of the country’s GDP.
It is the third largest oil producer in Southeast Asia, and has one of the highest GDP in the world. It also has substantial overseas investments which are derived from domestic hydrocarbon production.
In India, there are two types of taxes levied by the government: Direct taxes and indirect taxes. Indirect taxes are levies imposed on goods and services, whereas direct taxes are levied on the income and profits of individuals and organizations. Direct taxes are directly paid to the government by the taxpayer.
Income tax is a direct tax, paid on personal income by an individual or a company, to the federal government.
Russia and China are planning to work together to develop the majority of future global AI research and applications, according to Konstantin Gorbach, AI business director of Russian industrial digitalization technology firm Zyfra.
Singapore’s International Mediation Centre (SIMC) and the China Council for the Promotion of International Trade (CCPIT) are to jointly develop the rules and procedures for disputes related to China’s Belt and Road Initiative projects.
The Vietnamese government issued Decree No.13/2019/ND-CP, which provides preferential treatment such as corporate tax cuts and exemptions, credit incentives, and exemption or reduction in land and water surface lease fees for science and technology enterprises.
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 email@example.com for more support on doing business in China.