New Delhi [India], Sep 17 ( ANI ): The union government on Monday announced that interest payable by an Indian company or a business trust to a non-resident, including a foreign company
, in respect to rupee denominated bonds issued outside India before July 1, 2020, would be liable for a concessional tax rate of five per cent.
In addition, procedure of certification of documents and translation of documents required to be filed by a foreign company
has been provided; available modes of payment of fee to the SECP have been specifically stated, i.e.
In addition to that, procedure of certification of documents and translation of documents required to be filed by a foreign company
has also been provided; available modes of fee payment - through credit or debit card, online payment or challan payment via banks - to the SECP have been specifically stated and provisions regarding applicable penalties to be imposed in case of violation of any provision of the regulations have also been included.
A branch of a foreign company
is registered in Qatar to facilitate the foreign company
in the performance of its contract(s) in Qatar (as described below).
The UAE has a well-regulated and simple process for advertising of services by a foreign company
through brochures / handouts / leaflets, in the country.
A foreign company
is a company which is not formed in Turkey but in a foreign country in accordance with that country's local laws.
Hopefully the new law will help in confirming that a PE cannot be constituted for a foreign company
through an independent agent.
company's property is directly or indirectly acquired by a foreign company
In addition, one foreign company
was also registered during the month.
However, this provision is subject to specific exceptions, such as the taxation of a foreign company
at a rate higher than that of a domestic company is not considered as a less favourable charge in respect of the foreign company
The new law, which was gazetted in June will also introduce an annual 90 day threshold in aggregate for any given taxable year before a foreign company
conducting business in Oman is deemed to create a taxable presence.
"This will allow us to legally pay all our workers in hard currency," said a manager of a major foreign company