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Bank Indonesia thinking about introducing new procedures that will require all the overseas banks working in the country to set up a limited liability company incorporated in Indonesia. Muliaman Hadad, a deputy governor at the central bank, said "The mutual rule will be implemented. We would be directing foreign bank branches to establish limited liability companies in Indonesia." Some of the banks have complained that they cannot open liability companies and branches overseas due to regulatory barriers established by foreign central banks.

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Indonesian commercial banks such as Bank Mandiri and Bank Negara Indonesia cannot do the same overseas. The plan of Bank Mandiri to open a new full-fledged branch in Malaysia has been postponed as they required having some amount of capital before it can operate as a commercial bank there.

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Experts from Smallbusiness.chron.com have revealed the legal tricks that can help you reduce your LLC taxes. IRS rules let LLCs deduct business equipment purchases up to $100,000, and this can significantly reduce your LLC taxes. Your LLC taxes can also deduct employee retirement plans like 401k and 403b. Any money your LLC spends on travel, lodging, business conventions or similar expenses can be deducted, further reducing LLC taxes.
LLC taxes payment can also be reduced by deducting business expenses including health insurance for employees and money spent on education, books or CDs related to business. You can also cut down your LLC taxes by deducting the amount of money you paid for newspaper, magazine and institutional library membership. Money paid for various licenses is also tax deductible.

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The latest legal news Canada has to offer is regarding the fact that Canadian retailers have decided to appeal to court regarding the usage of premium credit cards and its fees. Visa and Mastercard are on the side of the consumers, or so they say, by saying that by increasing costs of purchase for premium card users, they are taking away their privileges. Retailers, on the other hand, argue that they are on the side of the consumer because they can lower costs-as previously, they have been the ones covering the fees and privilege that premium card uses exert.

Most people are on the side of the credit card companies. They think that as consumers, they have the right to premium cards, and if having a premium card has nothing to do with premium, then there is absolutely no point in having them.