http://www.pwcias.com PricewaterhouseCoopers International Assignments in Asia News en-en 2001-2009 PricewaterhouseCoopers http://www.pwcias.com/webmedia/633693587102146926_pwc.gif http://www.pwcias.com http://www.pwcias.com/home/eng/chinatax_news_feb2010_2.html In this issue, we will provide the salient points of Guoshuihan [2009] No. 694 ("Circular 694") - Clarifications on China's individual income tax treatment of contributions made to enterprise annuity plans established by Chinese employers, and share our insights and observations. http://www.pwcias.com/home/eng/chinatax_news_feb2010_2.html Wed, 3 Feb 2010 18:22:00 +0800 http://www.pwchk.com/home/eng/webcast_vn_pit_dec2009.html In this webcast, our International Assignment Services team shared with you the big picture of personal income tax ("PIT") developments in Vietnam and their experience on how to best manage this area. This was followed by an update on immigration issues and the presentation of issues confronting employers sending short term business travellers to Vietnam. We concluded with a high level consideration of issues to consider when attending to 2009 PIT finalization. http://www.pwchk.com/home/eng/webcast_vn_pit_dec2009.html Wed, 16 Dec 2009 10:34:00 +0800 http://www.pwcias.com/home/eng/imm_newsletter_dec2009.html In this newsletter, we will highlight the key changes affecting the Asia Pacific immigration landscape. Regions covered in this issue include Australia, India, Singapore and Vietnam. http://www.pwcias.com/home/eng/imm_newsletter_dec2009.html Tue, 8 Dec 2009 18:35:00 +0800 http://www.pwcias.com/home/eng/hktax_termination_payments_dec2009.html In this article, we will share with you a summary of the two court cases on termination payments and an analysis of the court decisions. http://www.pwcias.com/home/eng/hktax_termination_payments_dec2009.html Thu, 3 Dec 2009 18:26:00 +0800 http://www.pwcias.com/home/eng/chinatax_news_dec2009_25.html In this issue, we will focus on two income exemption situations for the new record filing requirement of the Suidishuifa [2009] No. 222 that are specifically related to individual income tax and may cause significant implications to expatriate employees working in Guangzhou. We will also share our insights and recommendations in light of this tightened tax administration for expatriate employees and their employers. http://www.pwcias.com/home/eng/chinatax_news_dec2009_25.html Thu, 3 Dec 2009 15:32:00 +0800 http://www.pwcias.com/home/eng/ustax_irs_amnesty_oct2009.html On 27 October, 2009, House and Senate Democrats introduced offshore tax compliance legislation expanding the authority of the IRS to "detect, deter and discourage offshore tax abuses" involving U.S. taxpayers with foreign assets. This proposed legislation is designed to focus on individual offshore tax compliance provisions included in the Obama Administration's FY2010 budget. In this article, we will share with you the key provisions and our observation. http://www.pwcias.com/home/eng/ustax_irs_amnesty_oct2009.html Tue, 3 Nov 2009 09:54:00 +0800 http://www.pwcias.com/home/eng/hk_dipn33_insurance_agents_oct2009.html The Hong Kong Inland Revenue Department ("IRD") issued a revised Departmental Interpretation and Practice Notes No. 33 - Insurance Agents in October 2009. The major revisions to the note are (1) clarification of the current assessing practice of the IRD in respect of certain income and expense items commonly encountered by insurance agents and (2) reference to recent Board of Review decisions and court judgments in relation to taxation of insurance agents. http://www.pwcias.com/home/eng/hk_dipn33_insurance_agents_oct2009.html Tue, 27 Oct 2009 12:09:00 +0800 http://www.pwchk.com/home/eng/webcast_hrtax_secondment_oct2009.html The recent PRC tax development on secondment arrangement potentially giving rise to permanent establishment ("PE") of home entity has attracted much attention. In this one hour webcast, we covered a wide spectrum of areas where the management and HR would need to consider in light of the recent PE challenges by the PRC tax authorities. http://www.pwchk.com/home/eng/webcast_hrtax_secondment_oct2009.html Wed, 21 Oct 2009 17:09:00 +0800 http://www.pwcias.com/home/eng/sg_retire_saving_oct2009.html This newsletter discusses how employers can attract and retain both local and foreign talent through introduction of alternative retirement savings plan (in addition to Central Provident Fund). http://www.pwcias.com/home/eng/sg_retire_saving_oct2009.html Fri, 9 Oct 2009 10:05:00 +0800 http://www.pwcias.com/home/eng/chinatax_news_sep2009_23.html In this issue, we will address the relevant requirements as provided in the Guoshuifa [2009] No.124 ("Circular 124") titled "Administrative measures for non-tax residents to enjoy treatments on income under DTA (Trial)" in relation to those treaty resident individuals who derive China-sourced income from personal services and are eligible to claim benefits under double tax treaties. While there are a lot of worth-noting issues brought about by Circular 124, we will concentrate on the issues relevant to "dependent personal services" (virtually, employment services), which are most widely concerned by the foreign employees working in China as well as their foreign company employers. http://www.pwcias.com/home/eng/chinatax_news_sep2009_23.html Tue, 6 Oct 2009 11:40:00 +0800 http://www.pwcias.com/home/eng/ustax_hidden_offshore_acc_sep2009.html The Internal Revenue Service announced a one-time extension of the deadline for special voluntary disclosures by taxpayers with unreported income from hidden offshore accounts. These taxpayers now have until 15 Oct 2009. http://www.pwcias.com/home/eng/ustax_hidden_offshore_acc_sep2009.html Wed, 23 Sep 2009 18:05:00 +0800 http://www.pwcias.com/home/eng/chinatax_news_sep2009_21.html On 24 August 2009, China's State Administration of Taxation issued Guo Shui Han [2009] No. 461 ("Circular 461") to provide further clarifications on the Chinese individual income tax treatments of employment income derived from share appreciation rights and restricted shares plans. In this issue, we summarise the salient points of Circular 461 and share our respective insights and recommendations. http://www.pwcias.com/home/eng/chinatax_news_sep2009_21.html Mon, 21 Sep 2009 18:06:00 +0800 http://www.pwcias.com/home/eng/imm_newsletter_sep2009.html In this newsletter, we will highlight the key changes affecting the Asia Pacific immigration landscape. Regions covered in this issue include China, Japan, Taiwan and Thailand. http://www.pwcias.com/home/eng/imm_newsletter_sep2009.html Fri, 11 Sep 2009 14:43:00 +0800 http://www.pwcias.com/home/eng/imm_sg_pr_sep2009.html Becoming a Singapore Permanent Resident - An overview of personal taxation and immigration considerations http://www.pwcias.com/home/eng/imm_sg_pr_sep2009.html Fri, 11 Sep 2009 14:43:00 +0800 http://www.pwcias.com/home/eng/imm_alert_jp_aug2009.html The revised laws were enacted on 15 July 2009 with corresponding procedural changes expected within three years by cabinet order. Changes include the requirement for foreign nationals who stay in Japan for longer than three months, to possess a residence card ("zairyu card") replacing the former alien registration card. http://www.pwcias.com/home/eng/imm_alert_jp_aug2009.html Fri, 11 Sep 2009 14:43:00 +0800 http://www.pwcias.com/home/eng/chinatax_news_sep2009_18.html In this issue, we would summarize the salient points of Guoshuifa [2009] No.121 ("Circular 121") on certain individual income tax treatments together with our insights, observations and recommendations. http://www.pwcias.com/home/eng/chinatax_news_sep2009_18.html Tue, 8 Sep 2009 17:32:00 +0800 http://www.pwcias.com/home/eng/ustax_fbar_ext_date_aug2009.html Further to our publication on the Internal Revenue Service's "Amnesty" Program in July 2009, the Internal Revenue Service ("IRS") Notice 2009-62 ("Notice"), released on 10 August 2009, extends the due date of Form TD F 90-22.1, Report of Foreign Bank and Financial Accounts (commonly referred to as "FBAR") for 2008 and prior years to 30 June 2010 for filers with "signature or other authority" and for filers with a financial interest in or signature or other authority over "commingled funds". Public comments are requested on multiple issues in the Notice. The FBAR filing extension provided in the Notice supplements the filing extension to 23 September 2009, previously provided by the IRS on its public website. http://www.pwcias.com/home/eng/ustax_fbar_ext_date_aug2009.html Tue, 1 Sep 2009 12:25:00 +0800