New Issue of Asia Briefing: Payroll Processing Across Asia
Jan. 16 – The new issue of Asia Briefing Magazine, title Payroll Processing Across Asia, is out now and will be temporarily available as a complimentary PDF download on the Asia Briefing Bookstore throughout the months of January and February.
Collecting tax revenue and administering social insurance are two of the most fundamental roles of government. When establishing or operating a business in Asia, companies must take special care to comply with regulations concerning taxes deducted at the source of employee payroll (withholding tax) and mandatory contributions to social insurance programs.
As you might expect in a region comprising so much diversity and complexity, the systems utilized by governments in places like China and Vietnam (countries with large populations and with a communist background) are substantially different than those in places like Hong Kong and Singapore – small jurisdictions with a distinctly capitalist outlook. India, a populous emerging nation with a democratic system of government, provides an interesting contrast in terms of how it taxes and supports its citizens.
In Asia Briefing Magazine’s first issue of 2014, we provide a country-by-country introduction to how payroll and social insurance systems work in these five above-mentioned countries or administrative regions. While tax authorities are expected to publish guidelines for employers to use in calculating both withholding tax and contributions to social insurance programs, comprehensive guidelines can sometimes be difficult to obtain and confusing to understand.
We also compare three distinct models companies use to manage their payroll across various countries with external vendors, and explain the differences between three main models: country-by-country, managed, and integrated models while highlighting some benefits and drawbacks of each.
Finally, as we venture together into 2014, we hope this and future issues of Asia Briefing Magazine will help readers successfully navigate Asia’s complex payroll environment and serve as a useful resource for companies looking to stay in compliance with local regulations.
In this issue:
- Key Considerations When Choosing a Payroll Outsourcing Model
- Calculating Individual Income Tax & Social Insurance
- The Accelerating Trend Towards Outsourcing Payroll Processing in Asia
Payroll Processing Across Asia is out now and immediately available as a complimentary PDF download on the Asia Briefing Bookstore for a limited time only.
Dezan Shira & Associates is a specialist foreign direct investment practice, providing corporate establishment, business advisory, tax advisory and compliance, accounting, payroll, due diligence and financial review services to multinationals investing in emerging Asia. Since its establishment in 1992, the firm has grown into one of Asia’s most versatile full-service consultancies with operational offices across China, Hong Kong, India, Singapore and Vietnam as well as liaison offices in Italy and the United States.
You can stay up to date with the latest business and investment trends across Asia by subscribing to Asia Briefing’s complimentary update service featuring news, commentary, guides, and multimedia resources.
The 2014 Asia Tax Comparator
In this issue of Asia Briefing Magazine, we examine the different tax rates in thirteen Asian jurisdictions – the 10 countries of ASEAN, plus China, India and Hong Kong. We examine the on-the-ground tax rates that each of these countries levy, including corporate income tax, individual income tax, indirect tax and withholding tax. We also examine residency triggers, as well as available tax incentives for the foreign investor and important compliance issue.
An Introduction to Tax Treaties Throughout Asia
In this issue of Asia Briefing Magazine, we take a look at the various types of trade and tax treaties that exist between Asian nations. These include bilateral investment treaties, double tax treaties and free trade agreements – all of which directly affect businesses operating in Asia.
The China Tax Guide: Tax, Accounting and Audit (Sixth Edition)
This edition of the China Tax Guide, updated for 2013, offers a comprehensive overview of the major taxes foreign investors are likely to encounter when establishing or operating a business in China, as well as other tax-relevant obligations. This concise, detailed, yet pragmatic guide is ideal for CFOs, compliance officers and heads of accounting who need to be able to navigate the complex tax and accounting landscape in China in order to effectively manage and strategically plan their China operations.
Are You Ready for ASEAN 2015?
ASEAN integration in 2015, and the Free Trade Agreements China has signed with ASEAN and its members states, will change the nature of China and Asia focused manufacturing and exports. In this important issue of Asia Briefing we discuss these developments and how they will impact upon China and the Global Supply Chain.