31 January 2018
Income Tax in Italy Income Tax for Corporates Italian corporate entities are subject to a corporate income tax, known as imposta sul reddito sulle società or IRES, and to a regional production tax, known as imposta regionale sulle attività produttive or IRAP. The standard rates are as follows: · 24% for IRES. · 3.9% for IRAP. Up to FY 2016, the IRES rate was 27.5%. Specific rules will apply for bank and financial entities. The following different IRAP rates are applicable for certain entities: ·...
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31 January 2018
Income Tax in China When are tax returns due? That is, what is the tax return due date? Monthly individual income tax returns are due by the 15th of the following month (but see discussion on compliance requirements). Annual individual income tax returns are due by 31 March of the following year. What is the tax year-end? 31 December. What are the compliance requirements for tax returns in China? Monthly returns: For employment income, employers must file individual income tax withholding return...
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31 January 2018
Income Tax in Bangladesh 1. Structure: Among direct taxes, income tax is the main source of revenue. It is a progressive tax system. Income tax is imposed on the basis of ability to pay. "The more a taxpayer earns the more he should pay''- is the basic principle of charging income tax. It aims at ensuring equity and social justice. In Bangladesh income tax is being administered under the tax legislations named as “THE INCOME TAX ORDINANCE, 1984 (XXXVI OF 1984) and INCOME TAX RULES, 1984.” 2. Inc...
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31 January 2018
Income Tax Law in Pakistan Corporate Income Tax Tax Rate 32 percent for tax year 2016, 31 percent for tax year 2017 and 30 percent for tax year 2018 and onwards (other than for a banking company for which the rate of tax is 35 percent). The exception to this is small companies, which are taxed at 25 percent. Residence A company is considered to be resident in Pakistan if it is incorporated, formed by or under any law in force in Pakistan. Companies incorporated under foreign law are considered t...
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24 January 2018
Income Tax Law in USA Ben Franklin said, “Nothing is certain except for death and taxes.” For the majority of American citizens, January 1 marks the beginning of the new year—and a new tax season. That’s the time when taxpayers gather boxes of receipts, receive their W2s, and make appointments to ensure taxes are paid by April 15. Filing your income tax is a complicated process whether you do it yourself or use a professional service. US tax code is intricate, and for many, navigating the numero...
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2 January 2018
LISTING OF SME’S ON STOCK EXCHANGE The BSE SME Exchange has been setup by the Bombay Stock Exchange to provide Small and Medium Sized Enterprises a platform for raising equity capital for their growth and expansion. SMEs are the backbone of a nation’s economy and Indian SMEs provide employment to 70 million people through 30 million enterprises. In 2010, The Prime Minister’s Task Force recommended the setting up of a dedicated Stock Exchange for SMEs and SEBI also laid down the regulations for t...
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2 January 2018
DELISTING OF SECURITIES SEBI Regulations gives an option to the listed company to either get itself delisted from all the recognised stock exchanges where it is listed or only from some of the few stock exchanges and continue to be listed on the exchange(s) having nationwide terminals. The difference between two options is that of giving ‘exit opportunity’ to the shareholders. This is described as under: Option I - No ‘exit opportunity’ required to be given: In this option, if after the proposed...
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