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News & Knowledge

All Knowledge & Opinions

Tax incentives granted for tax payers in Mexico's North Border Region

5th February 2019

Taxpayers that carry out or wish to begin carrying out business activities in the northern border are able to enjoy said tax benefits, as long they duly submit a notice before the tax authority. The deadline for income tax is 31 March; the deadline for Value Added Tax is 31 January. MSI's Mexican accounting member Perez Gongora & Asociados, S.C. provides further details.

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India: Key highlights of the Interim Union Budget 2019

5th February 2019

This article by MSI’s Mumbai based accounting member Chokshi Group provides key highlights of the Interim Union Budget 2019.

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Colombia: Offshore exploration, a pending assignment

5th February 2019

Colombia still lags in offshore exploratory activities, a situation negatively affecting development of the country. Hydrocarbon exploration and recovery are key conditions for local markets to grow stronger while maintaining their competitiveness in the eyes of foreign investors. Onshore exploration, that is, over land territories of countries, should be supplemented by efforts to make offshore exploration acquire enough momentum and become a real and efficient part of the economies. Unfortunately, Colombia is significantly behind in this endeavor. MSI's Colombian law member Sanclemente Fernandez Abogados SA provides further insight.

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China: Tax benefits to overseas investors reinvesting distributed profits expanded

5th February 2019

For the purposes of further encouraging overseas investors to invest in China, the Ministry of Finance, the State Administration of Taxation, the National Development and Reform Commission and the Ministry of Commerce recently issued the Circular about Expanding the Scope of Application of temporary waiver for Withholding Income Tax on Direct Investments with Distributed Profits by Overseas Investors (Cai Shui [2018] No. 102). Compared with the previous policy of Cai Shui [2017] No. 88, the scope of application of withholding income tax for foreign investors has been expanded with other provisions remain the same. MSI's Chinese accounting member Lehman Brown Ltd. provides further information.

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