Mumbai, the financial and commercial capital of India, may be experiencing its worst deluge since 2005, with heavy rains leaving container port and air freight operations at a standstill.
The Asia peak season is expected to be the biggest for years, which will inevitably lead to congestion, delays and rate increases at the ports and airports. You need to act now to protect your supply chain performance.
China’s State Administration of Taxation (SAT) issued guidance (Bulletin 42) that extends VAT-exempt treatment to all international freight forwarding services. The new rules went into effect on September 1, 2014.
The China Ministry of Finance (MOF) and the State Administration of Taxation (SAT) have jointly agreed to exempt international transportation from their recently implemented VAT regulations. The revised tax treatment is retroactive to August 1, 2013 when the nationwide regulations first came into effect. A joint circular (Caishui 2013 No 106) has been issued by the MOF and SAT explaining the exemption.
The China Ministry of Finance (MOF) and State Administration of Taxation (SAT) issued a circular (Caishui  No. 37, (“Circular 37”)) on May 24, 2013, announcing the expansion of the Value-Added Tax (VAT) Reform Pilot on a nationwide basis. Certain revisions to the pilot regulations in this nationwide application of the VAT program will result in a 6% VAT charge assessed on transportation charges and freight forwarding services billed and paid in China.
The Wall Street Journal
South China Morning Post
Hundreds of port workers at Li Ka-shing’s Hong Kong terminals surrounded his Cheung Kong Center headquarters in the city’s business district after rejecting pay rise aimed at ending a three-week strike.
More than 4,000 protesters, including Hongkong International Terminals contracted workers, marched on the Central Government Offices calling on the government to negotiate an end to the 11-day docks strike. The protest came yesterday as Confederation of Trade Unions leader Lee Cheuk-yan urged Chief Executive Leung Chun-ying to press the port operator to negotiate with workers.