29 MARCH 2023View in Browser
 
 

Weekly business and foreign investment news roundup in Asia

by Asia Briefing and Dezan Shira & Associates.

 
 

INDIA EDITION
 
 
 

TOP STORIES THIS WEEK:

 
 
 
Essential Personal Finance Compliance Checklist for India as March 31 Deadline Approaches
 
As the current financial year in India ends on March 31, individuals must prioritize their personal finance checklist and ensure the timely completion of all outstanding financial tasks. To help individuals stay on track, here is a list of essential items that require their attention before the end of this month and the current financial year.
 
 
New Debt Mutual Fund Rules in India to Take Effect on April 1, 2023
 
Starting from the next financial year, 2023-24, new debt mutual funds rules in India will come in effect. Investors in debt mutual funds will be subject to taxation similar to that of bank deposits and will no longer have the advantage of long-term capital gains tax.
 
 
SEBI Extends Deadline Until September 30 to Add Nominee to Demat Account
 
The deadline for nominations or opting out of them for trading and Demat account holders has been extended from March 31, 2023, to September 30, 2023. Adding a nominee to a Demat account is crucial to prevent account freezing and enable investors to trade in the Indian stock market.
 
 
India’s Exports to the UAE Projected to Reach US$32 Billion in FY23
 
India’s exports to UAE are expected to rise to US$32 billion in FY 2022-23 (+14% YoY) due to CEPA trade deal effective May 1, 2022, per Commerce Ministry. This is backed up by a marked increase in the certificates of origin issued by India to exporters, which enable them to access the India-UAE CEPA trade concessions.
 
 
India, UK FTA Negotiations: Key Updates
 
Both sides have stated that the talks have enjoyed “good, positive” momentum. Now, British stakeholders are hoping that regulatory barriers are cleared to facilitate trade through digital services and digitally enabled services. However, a data bill is currently with India’s parliament and could impact the FTA negotiations. We discuss the details and what has been agreed thus far.
 
 

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NEWS FROM AROUND ASIA:

 
 
An Introduction to Doing Business in India 2023 (Complimentary Report)
 
 
An Introduction to Doing Business in India 2023 (Complimentary Report)
 
This publication is designed to introduce the fundamentals of investing in the Indian market and includes a guide to corporate establishment, merger and acquisition, tax advisory, HR and payroll...
 
 
 
The BRICS Has Overtaken The G7 In Global GDP
 
The India-based Megh Updates platform, one of the world’s largest online informational platforms in terms of views, has stated that BRICS countries...
 
 
Saudi Arabia To Allow Foreign Property Ownership
 
The new law allows non-Saudis to own different types of real estate; commercial, residential and agricultural with regulations, the initial reading...
 
 
UAE-Israel Diamond Trade Increases 163% In 2022 To Reach US$1.75 Billion
 
The Diamond trade between the United Arab Emirates and Israel reached US$1.75 billion in 2022, representing a 163% increase over 2021, according to...
 
 

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UPCOMING EVENTS FOR ASIA:

 
 
 
Navigating Indian Tax Laws: Understanding Tax Implications for Businesses Operating in India
 
Webinar | Tuesday, April 18, 2023 | 2:30 PM India Time / 4:00 PM Vietnam Time / 5:00 PM China Time
 
 
 
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