Insights

Newsletter – July 2022

We have compiled a list of regulatory trends from around the world indicating the possible implications of regulations that needs to be watched out while expanding globally.
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Aug 01, 2022

China Regulatory Update

Currently, Shanghai has the highest monthly average wage among 31 provinces (RMB 11396/US$1685 per month). Eight regions – Shanghai, Guangdong, Beijing, Tianjin, Jiangsu,...
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Jul 27, 2022

China

On March 24, 2022, the MOF and the STA issued a new announcement on “Exempting small-scale VAT taxpayers from VAT” to provide additional support for the development of m...
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May 26, 2022

Newsletter – April 2022

We have compiled a list of regulatory trends from around the world indicating the possible implications of regulations that needs to be watched out while expanding globally.
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May 26, 2022

Poland - Introduction of mandatory E-invoicing from the year 2023

Poland has introduced the new National System of e-Invoices (Krajowy System E-faktur or KSeF). E-invoicing using KSeF (i.e., Issuing of structured e-invoices) will likely to b...
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May 02, 2022

Slovakia - Implementation of new e-invoicing system – “Informačný Systém Elektronickej Fakturácie (“IS EFA”)

Slovakia is set to join countries implementing e-invoicing. E-invoicing shall be implemented in phased manner effective from January 2022 and January 2023
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Apr 29, 2022

Canada - Ontario proposes Beneficial Ownership Regime effective from January 1, 2023

On November 4, 2021, the Minister of Finance of Ontario has released the fall economic update which includes establishment of beneficial ownership information requirements eff...
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Apr 29, 2022

Israel - Increase in Minimum wages from NIS 5,300 to NIS 6,000 by 2025

Ministry of Finance announced on December 15, 2021, that the minimum wages shall be increased to NIS 6,000 (currently NIS 5,300) per month by 2025. The increase in the minimum...
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Apr 29, 2022

India - Finance Act 2022 – Highlights

Indian Finance Minister Ms. Nirmala Sitharaman presented India's budget for the year 2022–23 in the Parliament on February 1, 2022.
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Apr 29, 2022

Singapore Budget 2022 - Highlights

On February 18, 2022, the Finance Minister, Lawrence Wong delivered the budget speech for the year 2022.
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Apr 26, 2022

Hong Kong Budget 2022-23 Highlights

The Finance Secretary of Hong Kong, Paul Chan presented the Budget for 2022-23 on February 23, 2022
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Apr 26, 2022

UK Budget (Spring Statement) 2022 - Highlights

The Chancellor of the Exchequer presented the United Kingdom (UK) Budget (Spring Statement) 2022 before Parliament on March 23, 2022
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Apr 26, 2022

Netherlands - Partially Paid Parental leaves of 9 weeks to be effective from August 02, 2022

The Dutch Senate approved the Paid Prenatal Leave Act (Wet betaald ouderschapsverlof) enabling both parents to be paid for 9 weeks of parental leave during the child's first y...
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Dec 03, 2021

Japan - The Promotion of Female Participation and Career Advancement (“APFPCA”) amended effective from April 1, 2022

APFPCA amended by extending the obligation of formulation, filing and Publication of action plans for the promotion of female employees effective from April 1, 2022.
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Dec 03, 2021

France - Implementation of E-Invoicing delayed to July 1, 2024

As published in the ordinance issued by the government the implementation of the E-Invoicing will be effective from 1, 2024 instead of January 1, 2023.
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Dec 03, 2021

UAE - Substantial Amendments to the DIFC Employment Law

Dubai International Financial Centre (“DIFC”) regulated employer-employee relationship laws have been amended by the DIFC Authority and the changes are effective September...
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Dec 03, 2021

Russia - Russia's New VAT Reverse Charge rules in place w.e.f. October 1, 2021

New VAT reverse charge rules introduced wherein, recipients of goods and/or services report both the output VAT (in the role of a seller) and the input VAT (in the role of a p...
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Dec 03, 2021

Poland - “Polish Deal” receives ascent from the parliament, several amendments to tax laws affecting corporations and individuals

Poland parliament (Sejm) passed the “Polish deal” on October 29, 2021, amending health insurance contributions, VAT, income tax laws and other tax legislations affecting c...
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Dec 02, 2021

India - BPO/KPO services not intermediary services; 0% GST on Supply of BPO/KPO services to foreign clients

On September 17, 2021, India's Goods and Services Tax (“GST”) Council in its 45th meeting clarified the scope of terms “intermediary services” and "merely establishmen...
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Nov 17, 2021

Hungary - Introduction of new UBO Register for Data Reporting

Hungary introduces the ultimate beneficial owners’ (“UBOs”) register & will work as a central database for the same.
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Nov 17, 2021
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