2009 International Deadlines CFOs Don't Want to Miss : Nair & Co.'s Vyoma Nair Presents a Checklist of Key Regulatory Dates for U.S. Companies Operating Overseas

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With the U.S. economy slumping, increasing numbers of companies are tapping into emerging markets overseas. Foreign markets offer lucrative paybacks but they often come with a knotty mix of compliance, tax, and regulatory challenges too. If you are setting up or have existing operations in an overseas market, it is time to start preparing for the 2009 deadlines.

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Though the varying government specifications are burdensome and the regulations continually changing, the key is to be organized

Vyoma Nair, co-founder of Nair & Co., a leading global integrated solutions provider helping companies expand internationally, has compiled some of the major dates companies must know when dealing with operations in Asia and/or Europe. "Though the varying government specifications are burdensome and the regulations continually changing, the key is to be organized," Nair suggests.

Here is a list of some of the deadlines that could be critical to your business in 2009.


In Australia, the monthly payroll tax or the pay as you go (PAYG) withholdings must be reported and filed with federal tax authorities on the 21st of each month. Employers must also provide payment summaries and lodge an annual payroll report by August 14 each year. If the employer pays benefits to employees or their associates in lieu and/or in addition to salary, an employer may be liable to pay a fringe benefit tax (FBT). The expenses/ FBT returns must be filed by May 21st of each year. Stock option returns are filed on May 21, statutory accounts by April 30 and corporate tax returns by July 15. GST Returns must be filed quarterly; 28 days after quarter-end.


In China, monthly payroll tax deadline is the 21st of each month. There are no annual payroll filings required except for annual income > RMB 120,000 when filings are required by March 31, 2009. Enterprises that offer stock option plans are required to file the return within seven days following the event's occurrence. Statutory accounts are filed monthly. Corporate tax returns are filed quarterly 15 days after quarter-end, and annually on April 30. VAT is filed monthly; 10 days after month-end.


In France, monthly payroll tax is filed on the 10th of each month and the annual payroll filing is on February 28. Stock option returns are also filed on February 28, statutory accounts are on April 30th, and corporate tax returns are filed on April 30. VAT is filed monthly; 10-days after month-end.


In India, monthly payroll tax must be filed on the 7th of each month and the annual payroll filing is on June 15. Simultaneously, returns, regarding withholdings from vendor payments, must also be made. The expenses/fringe benefit tax returns are filed on September 30, statutory accounts on August 31, and corporate tax returns on September 30. VAT returns are filed monthly, 21 days after month-end. Dates for VAT returns vary by state and frequency of returns is based on tax liability.


In the U.K., monthly payroll tax is filed on the 19th of each month, and the annual filing deadline is May 19. Expenses/fringe benefit tax returns are filed on September 30 and stock option returns are also on September 30. Statutory accounts are filed on August 31. For accounting periods beginning after April 6, 2008, the filing deadline will be 9 months after the accounting period end (currently 10 months). Corporate tax returns are on December 31 and VAT returns are quarterly; 30 days after quarter end.

All the above deadlines are based on an assumed year end December 31, 2008. Failing to comply with deadlines will lead to fines, penalties and interest charges. Please note that this calendar is not intended to be all-inclusive and covers only major deadlines, not all deadlines. Nair & Co. has provided the details above purely on an informational basis, and is not responsible for any action taken or failure to take any action in reliance on the above.

Nair & Co. provides businesses with an integrated solution in the HR, finance, tax, compliance and legal arenas making a company's move overseas less risky, stress free and more strategic. Headquartered in UK, it has 700+ client operations in 40+ countries with offices in India, China, U.S. and Japan.

To be able to run your international operations in a cost effective but risk free way and for advice relevant to your specific circumstances, please visit our website at http://www.nair-co.com or call 239.948.9820 (EST-South) / 781.239.8135 (EST-North) / 919.996.9859 (EST-East)/ 408.515.6887 (PST).

About Nair & Co.

Nair & Co. provides businesses an integrated solution geared to making your company's thrust to expanding business overseas less risky, stress free and more strategic in the finance, tax, HR, compliance and legal arenas. Specialized in working with the unique challenges of U.S.-based technology companies, Nair & Co. has headquarters in the U.K. and offices in India, China, U.S. and Japan and acts for nearly 700 foreign operations in over 40 countries. Nair & Co. employs highly qualified international specialists as your one point of contact client service directors to support your international registration, tax, accounting, compliance, HR and payroll needs. Our unrivalled knowledge base, attention to detail and superior work ethics protect your company's operations more effectively and save you time and money. For more information, including awards won, visit our web site at http://www.nair-co.com.

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