Setting Up a PCLG in Singapore, India’s Corporate Tax Cuts – China Outbound
Our weekly round up of other news affecting foreign investors throughout Asia.
Setting up a Public Company Limited by Guarantee (PCLG) in Singapore is an efficient and cost-effective process. Establishing a PCLG is one of the most preferred forms of non-profit organizations for overseas nationals or entities in the city.
India’s private sector is set to benefit from the single largest reduction in corporate income tax in almost three decades. The effective corporate tax rate for Financial Year 2019-20 will reduce by almost 10 percentage points for domestic companies.
Russia was one of the first countries to establish diplomatic relations with Vietnam, laying the groundwork for a strong bilateral and economic relationship between the countries.
The Vietnam-Eurasian Economic Union Free Trade Agreement (EAEU), which took effect in October 2016, has lifted trade and economic ties to a new level. Last year, the trade turnover between the two countries increased by 28.6 percent year-on-year while exports from Russia to Vietnam more than doubled.
Uzbekistan has become the first Central Asian country to allow Chinese nationals visa-free access, commencing from January 1 next year. The move will permit Chinese tourists access to Uzbekistan for seven days, visa-free and is aimed directly at the tourism industry.
China is the world’s biggest market in outbound tourism with nearly 150 million outbound visits made by Chinese travelers last year, an increase of 14.7 percent.
Vietnam’s Ministry of Finance issued Circular No 47/2019/TT-BTC reducing enterprise registration certificate (ERC) fees or business registration fees by half. The new circular went into effect on September 20.
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.