This week's Global Glance takes a detailed look at Uber's retreat from China.
The Indian Tax Authority issued the new 37BC rule that relieves non-resident businesses of the requirement to obtain an Indian tax registration known as a PAN when claiming reduced tax-treaty withholding rates on certain types of payments. Here's what it means for you.
This week's Global Glance describes the G20 in a nutshell and explores the G20's recent discussions about Brexit.
After years of negotiation, the Trans-Pacific Partnership (TPP), a massive new trade agreement, was signed in February this year by 12 nations. If it is ratified — a big “if” — it will bring important economic benefits to member nations, which include the US, Japan, Malaysia, Vietnam, Singapore, Brunei, Australia, New Zealand, Canada, Mexico, Chile and Peru — but not China. At first glance, it may seem surprising that the world’s second-largest economy isn’t participating. But if you take a deeper look at the pact and its requirements, the reasons become clear. They also shed light on China’s ambitions and the other initiatives it is pursuing to support them, even as the future of the TPP itself becomes increasingly cloudy.
Transferring EU personal data across borders is a complicated and sensitive issue. Last year’s ruling on the invalidity of the EU-US Safe Harbor scheme, and the subsequent negotiations culminating in the EU-US Privacy Shield, are testament to this. US and EU lawmakers had to scramble to agree on the terms of the Privacy Shield, which will operate as a voluntary scheme for US data importers and which some EU privacy activists may yet challenge. When the UK exits the EU, it does not want to endure the tortuous, years-long journey taken by the US in developing the Privacy Shield. But the fact is that upon Brexit, the flow of EU personal data to the UK will no longer be lawful unless the UK is assessed as having an adequate level of data protection by the European Commission (EC). And to date, the EC has only assessed 11 countries as having adequate data privacy legislation.
So the burning question in this area is: Would the UK’s data protection regime receive an adequacy endorsement from the European Commission?