SUNNYVALE, Calif.--(BUSINESS WIRE)--Nair & Co., the leader in international business expansion services has released Data Privacy, Compliance and HR updates for companies doing business in Australia and Mexico.
Australian Directors Become Personally Liable for Unpaid Superannuation
The new director penalty regime makes directors personally liable, in case their company fails to make certain compulsory payments or superannuation payments, like tax withholding from employees’ wages. The amendments are introduced to decrease the possibility of intentional fraud by directors, ‘phoenix’ activity, wherein a director accumulates debts in name of the company, liquidates the company before paying the debts, and then forms a new debt-free business entity or avoids payment of the entitled payments to employees.
Mexican Companies Handling Personal Data must Comply with Prescribed Rules
In a recent case, the Federal Institute for Access to Information and Data Protection (IFAI) of Mexico has imposed a penalty on Pharma Plus, S.A. de C.V. (engaged in drugstore operation trade) for breaching the personal data protection law, which came into effect on July 5, 2010.
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For more information about doing business overseas or specific International Tax, HR, Compliance or Legal issues please contact us at http://www.nair-co.com/global-offices.aspx
About Nair & Co.
Nair & Co. provides you with your one touch outsourced finance, HR, legal and compliance department for your international operations. If you are expanding abroad for the first time or increasing your global footprint, our turnkey solutions help you do so with minimal risk, stress and cost. We support 4000+ client operations in over 56 countries and have core offices in U.K., India, China, U.S., Japan and Singapore. Nair & Co. was named among the top 100 outsourcing services providers in the world by the International Association of Outsourcing Professionals (IAOP). Learn more at www.nair-co.com.