SUNNYVALE, Calif.--(BUSINESS WIRE)--Nair & Co., the leader in international expansion services has released HR, Regulatory and Taxation updates for companies doing business in Australia, India, Norway and the UK.
Australian Companies to Increase Retirement Benefit to 9.25% next month
Come July 2013, the minimum compulsory contribution rate of employers under the Act for “eligible employees” will increase to 9.25 per cent. Going forward the minimum rate will increase further, and employers will be required to make a contribution of 12 per cent, commencing from the financial year 2019-2020. Employers will also have to contribute on behalf of employees aged 70 years or over, resulting in increased benefit to employees.
Read more at http://www.nair-co.com/AustraliaRetirementBenefits-13-06-2013.aspx
India Hikes Debt Limits by $5 Billion for Long-term Foreign Investors
The Indian government has raised debt limits for long-term foreign investors in order to stabilize the debt market. In the past 2 weeks $3 billion were drained from the debt market weakening the rupee rapidly as global investor started taking their investments. This has prompted SEBI (Securities and Exchange Board of India) to increase the investment limit for long term foreign investors in government debts to $30 billion.
Read more at http://www.nair-co.com/India-DebtLimits-ForeignInvestors-14-06-2013.aspx
Norway Revamps Corporate Tax Regime
With an aim to give a boost to its economy, the Norwegian government plans an array of changes in its corporate tax regime. The corporate tax rate will be lowered, the tax credit scheme for R&D will be increased and a special first year depreciation for machinery will be introduced.
Read more at http://www.nair-co.com/NorwayRevampsCorporateTaxRegime-17-06-2013.aspx
International Business Guide
Nair & Co. launches “International Business Guide” online platform featuring information on Employment Laws, Legal Entities, Payroll, Accounts, Corporate and Indirect Taxes across 22 key jurisdictions worldwide. The IBG caters to a need for timely and accurate business information, for companies wishing to optimize their multinational operations.
Please Visit at https://ibg.nair-co.com
Parental Leave Increases to 18 Weeks in the UK
The UK has amended the Parental Leave Directive increasing the right to unpaid parental leave from 13 weeks to 18 weeks effective from March 8, 2013. Any employee who is the natural parent or adoptive parent of a child is entitled for unpaid leave during the first five years of the child’s life.
Read more at http://www.nair-co.com/ParentalLeaveUK-18-06-2013.aspx or get in touch with our international expansion services team at info@nair-co.com to learn more about our services in 50+ countries.
UK Promotes Intellectual Property Ownership with 90-day Patent Proposal
A consultation paper seeking comments on the proposed ‘90-day patent’ has been floated by the Intellectual Property Office (IPO) about two months ago to promote intellectual property ownership in the UK. Companies as well as individuals could pay an extra premium processing fee of £3,500 to £ 4000 in order to speed up patent applications, which be granted within 90 days under the new plans.
Read more at http://www.nair-co.com/UKIntellectualPropertyPatentProposal-19-06-2013.aspx
MyCalendar - The Smarter Way to Track your Compliance Deadlines
MyCalendar is a one-stop online compliance tracking tool that tracks statutory and regulatory compliance deadlines in more than 45 global jurisdictions. MyCalendar is daily updated based on the reports from our in-house research team that keeps track of the ever-changing complex tax regulations and deadlines across the globe. Nair & Co. ensures that every change that affects your business is captured by us.
To know more please visit at: http://www.nair-co.com/mycalendar.aspx
About Nair & Co.
Nair & Co. provides you with your one touch outsourced finance, HR, legal and global tax compliance department for your international operations. If you are expanding abroad for the first time or increasing your global footprint, our turnkey solutions help you do so with minimal risk, stress and cost. We support 4000+ client operations in over 56 countries and have core offices in U.K., India, China, U.S., Japan and Singapore. Nair & Co. was named among the top 100 outsourcing services providers in the world by the International Association of Outsourcing Professionals (IAOP). Learn more at www.nair-co.com or contact us at http://www.nair-co.com/global-offices.aspx
Subscribe to regular global tax compliance alerts or other international business expansion issues @ http://www.nair-co.com/subscribe.aspx. Click to follow us on: Twitter Linkedin Youtube
