Top 10 Accounting Headlines from Asia Pacific Following a 2005 PricewaterhouseCoopers study conducted for the Australian Local Government Association, a backlog of $14.5 billion in infrastructure renewals was identified. On August 24, 2009, the State Administration of Taxation issued Administrative Measures for Claims for Tax Treaty Benefits by Nonresidents (Trial Implementation), Guo Shui Fa [2009] No. 124 (the "Measures"). The global economic slowdown is having an adverse impact on many businesses, often resulting in lower cash flows. The State Council of the People's Republic of China ("PRC") and the China National Tourism Administration (the "CNTA") adopted and promulgated new Regulations on Travel Agencies (the "Travel Agency Regulations"), which came into effect on May 1, 2009. Kachwaha & Partners are pleased to present the guide on doing business in India For a liquidator to recover payments, made by a company to creditors, as unfair preference payments pursuant to section 588FA of the Corporations Act 2001 ("the Act"), he or she must be able to establish, amongst other things, that the company and the creditor were parties to the "transaction". Hoping to attract more multinational companies to invest in Beijing, the city issued new rules in May providing financial incentives for multinational companies to set up regional headquarters (RHQ) in Beijing. A recent decision of the Supreme Court of New South Wales has clarified whether redeemable preference shareholders of a company under administration hold their rights against the company as creditors, or as shareholders. The current economic conditions are creating challenges for all of us. The biggest challenges are likely to arise out of what we cannot control, for example, our suppliers, our customers, our landlords, our tenants and our financiers. Their behaviour is largely outside our influence. The Australian Securities and Investments Commission has recently issued guidance for companies preparing 31 December 2008 financial and audit reports. | 
