Australia Amends Corporations Act to Wind up Abandoned Companies; Denmark Proposes Changes in Indirect Taxes: 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 Australia, Denmark and Ireland.

Australia Amends Corporations Act to Wind up Abandoned Companies

Australia empowers the Australian Securities and Investments Commission (ASIC) to wind up abandoned companies by introducing new provisions in the Corporations Act, which will assist employees who are owed entitlements to access the General Employee Entitlements Redundancy Scheme (GEERS).

Denmark Proposes Changes in Indirect Taxes; Likely Increase in Taxes

The draft law which is subject to the Parliament’s approval will also avoid erosion of tax base by providing for indexation of tonnage tax based on inflation and wages.

Irish Taxpayers to Submit Financial Statement in a New Format

Ireland has declared that it will provide taxpayers the option of submitting financial statements in Inline eXtensible Business Reporting Language (iXBRL) format through the upgraded Revenue's On Line System (ROS), to make the inspection process efficient.

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.