A Quick Glance at Indonesias Revised Transfer Pricing Regulation

A balance between the interests of multinational companies and the tax authorities amidst the continuing instability within the global economyhas become tremendously important. Transfer pricing is crucial in maintaining this balance. While it is a major tax issue for multinationals seeking to maximize tax efficiencies and limit double taxation, keeping up to speed with all of this change is a also challenge. With multinational corporations evolving into global enterprises, it is fast becoming a complicated and expensive task to comply with the differing landscape of legal precedents, regulations and local country nuances for transfer pricing issues. In intercompany transfer pricing every transaction needs to be analyzed under a different set of facts and circumstances. Here's a quick glance at the revised transfer pricing regulation in Indonesia Indonesia's revised transfer pricing (TP) regulation now differentiates between transactions with foreign and domestic related parties.

The revised version is applied since November 11, 2011 and replaces the previous regulation that was issued on September 6, 2010. The new regulation can be applied to a related party transaction for domestic related parties including permanent establishments to adjust differences in tax rates on final and non-final income tax among certain business sectors, sales tax on luxury goods and transactions with oil and gas companies that have contracts for production sharing. As an alternative to the hierarchy based model, the transfer pricing method is now based on the most appropriate method. Arm's length principle (ALP) The Arm's Length Principle is now being applied for a related party transaction whose value is more than IDR 10 use of incidental internal comparables which could be used only in an incidental related party transaction is now being recognized by the Directorate General of Taxation (DGT). The new regulation also lists more comparability factors for economic circumstances.Organizational structure should be considered while performing a functional analysis in supply chain management, toll/contract manufacturing and full fledge manufacturing.

The new regulation makes available additional details on the definition and the use of marketing and trade intangibles. Cost contribution arrangements between related parties have also been acknowledged by the new regulation. In an international expansion, it is advantageous to have a trusted service provider can that can assist you in creating an appropriate tax and legal structure to optimize your new operating configuration. You can have unlimited assistance in aligning your tax profile and a good service provider would be focused on providing exceptional assistance in keeping you in tune with changing transfer pricing regulations, international accounting services, etc.

BAI – Finacle Global Banking Innovation Awards Announces 2012 Winners Global Banks Honored for Vision and Leadership in Innovation

WASHINGTON, DC--(Marketwire - October 9, 2012) - BAI and Infosys today bestowed the most innovative banks in the world with the prestigious 2012 BAI - Finacle Global Banking Innovation Awards. Now in its second year, the global awards program recognizes and supports innovation in the retail banking industry. This year's honorees were recognized at a special ceremony today at BAI Retail Delivery 2012 in Washington, D.C. The winning financial institutions were chosen among more than 150 entries from over 30 countries for breakthrough innovations that positively impact banks and their customers. The award winners were selected by the Innovation Circle Judging Panel, an objective, third-party board. This distinguished international group is composed of prominent industry thought-leaders, academics and retail banking professionals. OCBC Bank, located in Singapore, earned the Product and Service Innovation Award for FRANK, a radical approach to addressing Generation Y's different style of connecting and engaging with financial institutions. FRANK branches -- or "stores" -- are designed to specifically serve this group of young people aged 18 - 28, through being conveniently and strategically located in campuses and malls, the use of understandable language on signage and documentation, and through a casual atmosphere where popular music is played, and where interactive touch screens allow customers to shop and apply for their personalized FRANK debit or credit card.

Overall, FRANK allows OCBC Bank to develop lifetime, personalized relationships with these consumers by meeting their needs early on. The award for Channel Innovation was won by DenizBank, located in Turkey, for introducing the 'Globally First Ever' Banking Platform on Facebook. With full online banking functionality, the platform enables Facebook users to check their bank account, see a total picture of assets and liabilities, send money to anyone, anytime, purchase/enroll in consumer loans and credit cards, and invite Facebook friends to use the platform, among other capabilities. Alior Bank, located in Poland, received the Disruptive Innovation in Banking Award for changing the banking services market in its country. Alior Sync is a progressive, virtual bank that offers full-service banking via a virtual platform with a contemporary means of communication for its target segment, customers between the ages of 20 to 35. The innovative model of operations eases the facilitation of processes involved in offerings and sales of products and services, such as a fully online credit process -- a first in Poland.

The Most Innovative Bank of the Year Award was awarded to First National Bank, a Division of FirstRand Limited, located in South Africa, to honor its culture of innovation and advancement of retail banking. As part of their innovative culture, the bank holds an internal competition, called "Innovators," that formally encourages and supports the process of innovation and related competencies. Business units within FNB are empowered to innovate through leadership buy-in and advocacy. Debbie Bianucci, President and CEO of BAI, congratulated the award winners for their creativity and excellence. "These banks serve as a model of what can be achieved through innovation when it comes to enhancing the customer experience and transforming our industry. Their commitment and leadership set new standards for us, and we honor them for their achievement. We look forward to seeing what future innovations will come from the finalists and winners here today as well as other banks around the world." Haragopal Mangipudi, Global Head - Finacle, Infosys, commended the award winners for their ability to drive consumer engagement through innovation. "Their original thinking is the key to accelerating growth and increasing customer loyalty. As the innovation partner for global financial institutions, we applaud their outstanding efforts." To learn more about the 2012 BAI - Finacle Global Banking Innovation Awards and to submit nominations for the 2013 awards, please visit . About BAI: BAI is the financial services industry's partner for breakthrough information and intelligence needed to innovate and stay relevant in an evolving marketplace. For more than 85 years, BAI has focused on advancing the industry by offering unbiased education and research. BAI's offerings are as diverse as the industry, and include premier events such as BAI Retail Delivery Conference & Expo, groundbreaking research and performance metrics, professional learning and development programs, and in-depth editorial coverage through BAI Banking Strategies. For more information, visit About Infosys: Infosys partners with global enterprises to drive their innovation-led growth. That's why Forbes ranked Infosys 15 among the top 100 most innovative companies. As a leading provider of next-generation consulting, technology and outsourcing solutions, Infosys helps clients in more than 30 countries realize their goals. Visit and see how Infosys (NASDAQ: INFY), with its 150,000+ people, is Building Tomorrow's Enterprise?? today. Safe Harbor: Certain statements in this release concerning our future growth prospects are forward-looking statements, which involve a number of risks and uncertainties that could cause actual results to differ materially from those in such forward-looking statements. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding fluctuations in earnings, fluctuations in foreign exchange rates, our ability to manage growth, intense competition in IT services including those factors which may affect our cost advantage, wage increases in India, our ability to attract and retain highly skilled professionals, time and cost overruns on fixed-price, fixed-time frame contracts, client concentration, restrictions on immigration, industry segment concentration, our ability to manage our international operations, reduced demand for technology in our key focus areas, disruptions in telecommunication networks or system failures, our ability to successfully complete and integrate potential acquisitions, liability for damages on our service contracts, the success of the companies in which Infosys has made strategic investments, withdrawal or expiration of governmental fiscal incentives, political instability and regional conflicts, legal restrictions on raising capital or acquiring companies outside India, and unauthorized use of our intellectual property and general economic conditions affecting our industry. Additional risks that could affect our future operating results are more fully described in our United States Securities and Exchange Commission filings including our Annual Report on Form 20-F for the fiscal year ended March 31, 2012 and on Form 6-K for the quarters ended September 30, 2011, December 31, 2011 and June 30, 2012.These filings are available at . Infosys may, from time to time, make additional written and oral forward-looking statements, including statements contained in the company's filings with the Securities and Exchange Commission and our reports to shareholders. The company does not undertake to update any forward-looking statements that may be made from time to time by or on behalf of the company. For further information please contact: Jeannette Weiland BAI Chicago, USA Phone: +1 312 683-2319 jweiland@ The Americas Jay Barta Infosys Ltd. United States Phone: +1 510 926-7840 Jay_Barta@ Asia Pacific Joya Ahluwalia Infosys Ltd. India Phone: +91 80 41565002 Joya_Ahluwalia@

Iraq’s Economy – Achievement is Nearing

All the recent reports have shown that the economy of Iraq is growing and it is growing rapidly. It is expected by 2030, that Iraq will establish its own oil and gas set up to control over the Middle Eastern energy output. No doubt that the most significant and largest resource of Iraq's economy is the oil production and so Iraq is putting much effort on it to expand it at its best. One of the most hopeful sign for country's economy is the proper upturn of foreign investment. That could take Iraq to reach its aim. In 2011, Iraq has managed to attract $55.67 billion foreign investors and some other saleable actions. Truly the government of Iraq is taking attempt for creating a better environment for the foreign investors, recovering from all the inner-state or inter-state political tensions and other obstacles. The New- York based companies like Exxon Mobil, BP, CAM, WFT etc, they have already invested into the country and looking forward to expand the business.

Even Cameron, China and South Korea have shown interest into investing in Iraq. South Korean company STX group have decided and planning to start an extended gas and oil processing plant in southern region of the country, Basra district. The investors are assuming the country as disturbed place because of some past political incidents, but Iraq has worked on security and other issues and so the director of the Baghdad Investment Commission, Shaker al-Zamily assures and says for not missing the opportunities to enter and start business in the country. The real estate industry is also making its place rapidly. Iraq estimates, it requires to build up more than 800,000 houses or apartments, according to Shaker al-Zamily. Another problem of the country is facing is unemployment. The country undeniably highly depends on the oil production, but having a population of above 30 million, it is quite hard for the government to employ all the citizens with the help of oil revenues.

The government needs to take more wise and clear decision in order to make the economy stronger. 30% or more than that of the budget( $100 billion) is going for pensions and salaries. And most of the Iraqi citizens depend on the government for employment, whereas they should look for abroad studies or jobs and help the country's economy to grow more. Besides some negative aspects, Iraq truly has got so many positive points to have faith in it and drawing attention of whole world of economy.

GKN Forced The Rival Bidders to Pull Back For Volvo Aero

There is soon going to be shocking news around for the British's manufacturing industry as the British engineering group GKN has decided to buy Sweden's largest aerospace company 'Volvo' worth up to 800m. According to the reliable sources, the deal is not imminent as the other bidders like Germany's MTU Aero Engines, Carlyle Group and Nordic Capital have supposedly pulled themselves back from the list of front-runners who planned to buy Volvo's aero engine business. After the acquisition of Volvo Aero, GKN would be considered the second largest, by revenue, of GKN's four divisions. Since Volvo Aero manufactures entire engines as well as parts for aircraft including Saab's Gripen fighter jet, it would be a major expansion of GKN's aerospace business. Speculations are also being made about GKN that to raise enough cash to buy Volvo, it is planning to sell out its non-core business of wheels which manufactures parts for construction and other heavy vehicles.

Recently, in the month of January when GKN failed to make a lucrative contract to do work on the wings of the Airbus A320 jet after losing the deal to its Korean rival who made a cheaper offer. GKN which manufactures lightweight parts for Airbus and Boeing jets on the Isle of Wight as well as Bristol is already in joint venture with Rolls-Royce for making lightweight turbine blades for the aircraft engines. However, it was confirmed by Chief executive of GKN, Nigel Stein, that the company was looking for profitable acquisitions, especially in aerospace and land systems, as far as the buyout is concerned they would remain disciplined. GKN's chief executive, Nigel Stein, called the year 2011 as the year of transition for the aerospace industry. He explained that the boost in the civil aviation market has lessened the military orders.

Earlier, the sales mix was 58% civil and 42% military which is now expected by GKN to move towards 70% civil and 30% military. With this deal, GKN now wants to move forward and sell its aero engine division which supplies parts for civil and military aircraft. Stein confirmed that they are more focused on heavy trucks and construction equipment. However, analysts Andy Chambers and Alexandra West at Red burn cautiously stated on this mooted deal that it would be a significant undertaking carrying an element of execution risk. Sandy Morris at Jefferies warned Volvo Aero that the acquisition might stretch GKN financially and a rights issue might be sincerely required. Need cash apply with short term cash loans and get funds in minutes. Although, Volvo Aero and GKN have lots in common in the engine components market, they are working on the development of composite materials for engines. And, since both are already major suppliers to GE, Pratt & Whitney and Rolls-Royce, they are together going to have a much stronger portfolio in the market. Morris further added that they would analyze the equity placing and increasing debt against the uncertain Euro zone; and also cleared that the deal was little compelling.

Why Are we Subsidizing Big Oil?

President Obama must be asking the same thing as he proposes cutting out approximately $36.5 billion a year in oil and gas company subsidies and tax breaks in his new budget, which is set to be released at the end of February. "We will not continue costly tax cuts for oil companies," president Obama said in his announcement of the proposed budget for the 2011 spending year, which starts in October. This isn't the first time president Obama has tried to cut off big oil. He has tried to cut the subsidies from the federal budget two previous times but was rebuffed each time as intense lobbying from energy producers and opposition from both sides of the aisle in Congress prevented it.

The argument against cutting subsidies has been the same each time; ending the subsidies would damage the economy. "This is a tired old argument we've been hearing for two years now," said Jack Gerard, president of the American Petroleum Institute, the oil and gas industry's main lobby in Washington. "If the president were serious about job creation, he would be working with us to develop American oil and gas by American workers for American consumers." Mr. Gerard, in an interview with the New York Times turned the subject of subsidies on its head, stating that "The federal government by no stretch of the imagination subsidizes the oil industry.

The oil industry subsidizes the federal government at a rate of $95 million a day." The administration's response has been that big oil has been raking in record profits for years (while charging $3.50 a gallon for a gallon of gas). Considering that Exxon Mobil's profit for the last year came in at $124 billion, cutting a subsidy of $36 billion for the entire industry doesn't look like it's going force any of the members of big oil into bankruptcy. A second look at Exxon's profit, put in the context of Mr. Gerard's comment hinting that big oil needs to continue receiving subsidies to create jobs, seems a bit disingenuous but an extra $36 billion can buy a lot of toys. Reuters reported that renewable energy will get a funding boost in the 2012 budget, including "$302 million for solar energy (up 22 percent), $123 million for wind energy (up 53 percent) and $55 million for geothermal energy (up 25 percent)". If Obama is successful in getting the oil subsidy lifted, it would be encouraging to see more money allocated toward renewables. While the percentage gains are impressive, the money going to renewable energy sources would be less than 3% of the money saved from cutting the $36 billion subsidy.

China Lowers 2012 Gdp Growth Target to 7.5%

China, the world's second largest economy, lowered its GDP growth target to 7.5 percent this year, marking the first time the figure has dropped below 8 percent in the past eight years. China aims to increase its GDP by 7.5 percent, boost the volume of total exports and imports by roughly 10 percent, and hold consumer price index (CPI) increases to around 4 percent, Chinese Premier Wen Jiabao said in his "Report on the Work of the Government" presented to the National People's Congress on Monday. The slower growth rate is in line with global expectations and reveals China's awareness of the need to rebalance its economy.

The country currently relies heavily on exports and investment for its economic development, but has begun to find such an economic model no longer sustainable due to surging labor costs and a lack of innovation (which leads to low investment returns). " settling a slightly slower GDP growth rate, we hope to make it fit with targets in the 12th Five-year Plan, and to guide people in all sectors to focus their work on accelerating the transformation of the pattern of economic development and making economic development more sustainable and efficient, so as to achieve higher-level, higher-quality development over a longer period of time," Wen stressed in his speech. China's 12th Five-year Plan released one year ago aimed at an average annual growth rate of 7 percent between 2011 and 2015, a 0.5 percent correction down from the development goal set in the country's 11th Five-year Plan.

A recent report named "China 2030" - prepared by the World Bank and the Development Research Center under the Chinese State Council - said China has reached a development "turning point" and should use the right timing to conduct deep reforms. "China could postpone reforms and risk the possibility of an economic crisis in the future or it could implement reforms proactively," says the report. Beijing's acceptance of a lower growth target is also interpreted as a measure to manage international expectations. While the debt-ridden Euro zone still expects China's rescue in cash, and the United States in an election year continues pushing the RMB value to rise, China's own headwinds may give the country less external pressure and offer a breathing space for domestic exporters.

Phone Manufacturing Company Supports High School Musical Talents With Talent Search

One of the world's biggest and leading telephone brands, Motorola, will be supporting a music talent contest called MySchoolAct. The winners will be given a record deal with the top recording production and studio company Sony Music Entertainment. He or she will also get a spot for the Big Day Out 2012 festival program. Most aspiring musicians or students who are looking to find jobs in the music industry should take advantage of this contest. Most of the students who would join this contest would consider audio production schools after high school. This contest will not only help the winner with a solid foundation with exposure, it will also give him or her a taste of what is to come if they were to pursue a job in the music industry. Aspiring musicians from different schools in the regional, metro and even the rural high schools from corner to corner of Australia are given the opportunity of a lifetime.

This opportunity can give them a bright future in the music industry and even help them get into the best audio production schools. The possibility of getting a record deal with a big music production company, Sony Music Entertainment, which is valued about $50,000. Besides that, they are also being included to join the line up of the Big Day Out 2012, Australia's grandest and biggest music festival the tours from city to city. This possibility would not be possible without MySchoolAct and Motorola. MySchoolAct is basically an online musical talent competition which is exclusively made for Australian students who are in high school with the passion for music and the industry. The MySchoolAct supports all the music groups, choirs, bands and other that are within the schools. Best of all, this competition is for free. No sign up fees are needed. The MySchoolAct program has been planned to showcase all the incredible talents that high school musicians and bands across Australia have.

The program also enables these students to make or build and even interact with their fan base. They can post their videos and music on the site so everyone can see them. Higher education schools such as music collages and audio production schools have supported the program to let the high school students show their talent and become better at stage performance or when performing with an audience. Asides the main prizes, Motorola will also be given out merchandise.

London Bullion Market Association Reports on Silver Prices For 2012

According to the reports by the panel of expert analysts at the London Bullion Market Association, the prices on silver will not rise up to a remarkable extend as expected the same in April 2012. However, gold will display its flares in 2012 because of ongoing precious metals price prediction competition. As statistics from the competition on the prices, gold appears to touch elation unlike its counterpart the white metal. From the analysts' forecasts, it is clear that the average silver price in 2012 was US$33.98, but it shored up to a height of $44.49 that was a consecutive predication representing a substantial 39% increase. This is a blueprint of the current silver price, which is around $32.

If you take both of the metals in combination, you will see that the gold: silver ratio may fall a little from the current 52 to around 46, which is rated above the low point achieved in 2011 as well above the so-called historic ratio of 16:1. As six out of 25 participants in the competition assume that the prices on silverwill exceed $ 48.70 at some stage in 2012 taking for grand 28th April last year's silver price rise. Some analysts believe a maximum $50 increase for the white metal as the rounded off figure for silver at the current moment. With their last year prediction, they were unfortunately wrong with their $10 below guess. Hence, they feel that it is very difficult to predict fate of silver. The survey participants' doubts on silver's performance occur as a result of agitation about the global economic recovery and the proportion of silver demand, which depends on industrial usage. Some bullish forecasters say that the increasing industrial demand in the mid of the year provide sufficient boost to silver prices.

Hence, it offers an edge to its counterpart, gold as well a strong witness of silver's performance where both metals move forward at the same time. The white metal appears to be more volatile metal than its counterpart, gold whereas the variation is enormously notable because of high and low over the prices. According to the forecast of the analyst participants, the average silver price may fall down $20 whereas the average low price will stay at $24.06, which is huge difference representing a difference between high and low of around 85%. Because of volatile nature of silver, it is referred the Devil's metal and a point to note down that it is hard to predict about its altering prices.

Share Market News to Make a Wise Investment

The various forms of written media and multimedia are not just informative, but also educative. We acquire genuine knowledge of several things. World business news encompasses almost every aspect of business possible which includes share market news, company news, in every nook and corner of the world. Books, newspapers, magazines and pamphlets are responsible for shaping personalities, writing skills of individual and thinking habits too. People who have cultured a healthy reading habit are inundated with latest news about gadgets, machines, cars, computers, home appliances etc which helps them to decide quality goods.

Many silently suffering masses get impetus to revolt when a person takes interest in their cause and makes documentaries to show the world the real plight of downtrodden people. World business news makes for such heart-rending facts at times that some people forget their own tension while empathizing with those suffering elsewhere. In a fiercely fashion conscious world of today, latest news about fashion trends are a turn-on. Aspiring entrepreneurs, businessmen should keenly go through the share market news to know the latest trend of business and where to invest to maximize profit.

Public Safety Wireless Communication Market And Municipal Wireless

Public Safety Wireless Communication market spending is estimated to be USD 14.8 billion in 2011 and expected to reach USD 15.8 billion in 2012 and further to USD 22.1 billion at a CAGR of 6.98% over the period 2012 to 2017. Police Department accounted for the largest share of spending at 72.5%of Public Safety Wireless Communication market spending in 2011 and also will be the fastest growing segment at 7.0% CAGR during 2012 - 2017. Municipal Wireless Communication spending .reached USD 9.2 billion in 2011 and is expected to reach USD 14.9 billion by the end of 2017 with a CAGR of 8.4% during 2011 - 2017. The future growth in the ongoing process of city-wide and municipal wireless broadband services is the main factor that leads to technology innovation in wireless broadband with the increase in number of new services over the next seven years. This will be an ad on advantage for mobile wireless device, equipment and infrastructure developers. The globe is witnessing the fear from many sides such as terrorist attack are also increasing so there is need to advancement in every direction and simultaneously there are places where natural disasters occurs frequently so there is the need for public safety application segment and municipal wireless to play an unmatched role in wireless broadband technology.

The spectrums of public safety are used in many applications due to limited spectrum availability in the network. North America also has a target of 99%, 4G high-speed wireless penetrations nationwide to support the growth and deployment of public safety wireless communication throughout the country.President Obama on February, 2011, announced "Wireless Innovation and Infrastructure Initiative" or "National Wireless Initiative" and has allocated federal funds to spend on wireless goals i.e. USD 18 billion for the wireless policies, radio spectrum allocation of "D" block for public safety. This will lead to the deployment of network and infrastructure growth in the country that will increase more suppliers to attract the North American public safety market. North America accounted for 50.3% of the overall public safety wireless communication spending in 2011. Browse full report at Public Safety Wireless Communication Market The Asia Pacific on a steady rate growth as countries are in the development stage so acceptance of the technology and market penetration depends on the market growth of developed countries, since they are still following the developed countries and in hand trying to compete with them in technology and all perspective to have an upper hand in technology.

Hence there is the need for the development for public safety and municipal wireless to act in hand within the wireless broadband technologies. Asia - Pacific accounted for USD 2,054.1 million of global public safety wireless communication spending in 2011. With fasted growth rate among all the regions, the APAC market is expected to command 15.7% share by the end of 2017. In EMEA the spectrums of public safety are used in many applications due to limited spectrum availability in the network. With growing demand of public safety wireless communication the development of public safety organization in city of Berlin has launched the project 'Wireless City Berlin' (WCB) which is supported by the European Regional Development Fund (ERDF) and in South Moravia are some example of latest development in public safety. Infrastructure development and services market are showing huge growth rate in the next seven years which will help in future growth of wireless communication in public safety and municipal wireless communication. The public safety devices and equipment market in Latin America is expected to grow in the next four years when the infrastructure growth will give a strong background in the next 3 years and a strong development of wireless technologies. This increase in wireless technology has future growth opportunities in public safety and municipal wireless communication. Public safety Network Technology & Infrastructure spending stood at USD 3,439.4 million in 2011 whereas equipment, devices and services spending share stood at 21.3%, 14.3% and 26.8% in the same year. Wi-Fi is the largest spending technology segment currently with 18.6% share of Network Technology segment. LTE has the fastest adoption rate and is expected to the largest spending technology segment by the end of 2020.

Satellite communication spending in public safety stood at USD 952.7 million in 2011. TETRA/TEDS are the largest spending communication network technology segment with 2011 spending reaching USD 1,027.3 million. Scope and Overview The objective of the study on "Public Safety Wireless Communication & Municipal Wireless Communication Market: Global Spending Analysis & Forecast" is to gain detailed market insights for key Public Safety Wireless Communication & Municipal Wireless Communication segments that include network technology, devices, equipments & services. The market is analyzed on the basis of growth trends, ongoing developments, market penetration and revenue report also covers the strategies followed by"Public Safety Wireless Communication & Municipal Wireless Communication Market" players.