Individual Income Tax Comparison Across Asia
Individual income tax rates vary widely across jurisdictions. Here, we visualize these rates for China, India, Vietnam, Singapore and Hong Kong.
China Set To Lose Foxconn to Indonesia
Reuters has reported that Taiwan’s Foxconn Technology Group, the major supplier of Apple’s iPhones and iPads, is set to relocate their high-end manufacturing to the United States and low-end manufacturing to Indonesia. As manufacturing prices in China rises, and labor unrest increases, Foxconn is looking to diversify its supply chain.
China and Taiwan’s Top Cross-Strait Officials to Meet
The head of Taiwan’s Mainland Affairs Council (MAC), Wang Yu-Chi, will meet Zhang Zhijun of China’s Taiwan Affairs Office (TAO) next month, during February 11 to 14. This will be the first cross-strait meeting of top Chinese and Taiwanese officials in over 60 years.
China to Build High Speed Railway to Southeast Asia
By Patricia Ieong SHANGHAI – In a bid to improve its links with Southeast Asia, China is planning to build a high speed railway to Singapore. The railway as intended will travel at up to 200 km/h and run from China’s southern provincial capital of Kunming, in Yunnan, to Laos’ capital Vientiane, before continuing on […]
Key Considerations When Choosing a Payroll Outsourcing Model
SHANGHAI – When determining which type of model is most appropriate for managing payroll across multiple countries, employers should take into account the advantages and shortcomings of the three most commonly utilized models. The first, a country-by-country model, entails contracting vendors locally in each country. The second, a managed model, entails contracting a single vendor […]
Establishing a VAT Monitoring System for China
By Chet Scheltema, Manager, Dezan Shira & Associates BEIJING – China has rapidly implemented value-added tax reform over the last two years, and it has pledged to complete the reform by finally extending it even to the financial services and real estate industries by 2015. While value-added tax systems have grown in popularity worldwide over […]
Foreign Investors Making Contingency Plans in Thailand
China’s available manufacturing capacity is being ignored due to cost As the political crisis in Thailand deepens and begins to extend into mass civil unrest, disruptions and violence, foreign companies are beginning to make contingency plans concerning their operations in the country. Some of Dezan Shira & Associates clients are already starting to shift production […]
Vietnam Exports to India Reach US$2.4 Billion in 2013
HANOI – Vietnam’s exports to India in 2013 amounted to US$2.4 billion, up 33 percent from its 2012 figure of US$1.8 billion, according to the Department of Africa, West Asia and South Asia Markets (hereinafter referred to as ‘the Department’) of Vietnam’s Ministry of Industry and Trade. Preliminary statistics released by Vietnam Customs show that […]
Bitcoin’s Future in Asia
By Edward Barbour-Lacey HANOI – Created in 2009, Bitcoins are a peer-to-peer virtual form of currency able to be bought or sold on online exchanges. Additionally, the coins can be “mined” using high-performance computers and complex algorithms. While the value of a single Bitcoin can be very volatile (the price often swings wildly), the total […]
New Issue of Asia Briefing: Payroll Processing Across Asia
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 China, Hong Kong, Vietnam, India and Singapore. We also compare three distinct models companies use to manage their payroll across various countries with external vendors, and explain the differences among three main models: country-by-country, managed, and integrated models while highlighting some benefits and drawbacks of each.