Hungary Proposes New Tax on Financial Transactions; South Korea Announces Tax Hike: International HR, Tax, Compliance Updates From Nair & Co.

SUNNYVALE, Calif.--(BUSINESS WIRE)--Nair & Co., the leader in international business expansion services has released tax and compliance updates for companies doing business in Hungary, South Korea, China and Brazil.

Hungary Proposes to Introduce New Tax on Financial Transactions

The Hungarian government has proposed to introduce a new tax on financial transactions by payment services providers (PSP) having registered or branch offices in Hungary.

South Korea Announces Tax Hike for Businesses Operating in the Country

The South Korean government has announced changes to its tax laws that would increase tax rates for employees and large businesses operating in the country. Read More at http://www.nair-co.com/SouthKoreaTaxHikes-11-09-2012.aspx

China Introduces Surcharge on Electronic Waste Takes Effect Retrospectively

Chinese tax authority, State Administration of Taxation (SAT) has released a declaration establishing surcharge on electronic waste in the country.

Brazil Reduces Financial Transaction Tax (IOF) to Nil

The Brazilian Government has reduced the rate of financial transaction tax (Imposto sobre Operações Financeiras – IOF) on certain insurance policies to nil.

For more information about doing business overseas or specific International Tax, HR, Compliance or Legal issues please contact us at http://www.nair-co.com/global-offices.aspx

About Nair & Co.

Nair & Co. provides you with your one touch outsourced finance, HR, legal and 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.