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1.

VIETNAM: Free Company Incorporation in National Capital from August Onwards

21 June 2018

Companies will be incorporated free of charge in Hanoi from August this year onward. The move comes as part of a bid to increase the number of businesses registered in the country’s capital from the c...Read More

2.

UAE: New Government Schemes Slashes Costs of Mandatory Employee Insurance

20 June 2018

Employers will no longer be required to provide a cash guarantee of UAE Dirham 3,000 (US$817) for each new worker they recruit....Read More

3.

VIETNAM: Controversial Cybersecurity Law Set to Make All User Data Government-Accessible

15 June 2018

Vietnam's controversial new Law on Cybersecurity will oblige all overseas service providers – including the likes of Google and Facebook – to store all data on local users on Vietnam-based servers, wh...Read More

4.

BANGLADESH: 2018 Budget Raises Taxes in Apparel and Cosmetics Sectors

14 June 2018

The Corporate Income Tax (CIT) rate applicable to the readymade garment (RMG) production sector is to be raised to 15% from its current level of 12%. Companies looking to limit their tax liability, ho...Read More

5.

CAMBODIA: Online Economic Data Service Targets Overseas Investors

8 June 2018

Overseas investors are to be given instant access to a vast range of economic data relating to the country via the National Summary Data Page (NSDP), a new, government-backed online resource....Read More

6.

INDONESIA: Tax Dodgers Face Ban on Overseas Travel

4 June 2018

Tax evaders face being banned from leaving the country as the government continues its crackdown on individuals and businesses who fail to remit the statutory proportion of their earnings to the exche...Read More

7.

PHILIPPINES: Tardy Civil Servants Face Prosecution for Delayed Business Licence Approval

1 June 2018

Government officials who fail to process business licence and permit applications within a specified timeframe may find themselves liable for prosecution under the terms of the recently-enacted Ease o...Read More

8.

UAE: Planned Real Estate Portal Set to Eliminate Property Middlemen by 2020

31 May 2018

With the aim of having all real estate transactions conducted online by 2020, the Dubai Land Department, the government’s land and property agency, has announced plans to launch a comprehensive portal...Read More

9.

SINGAPORE: Country First Outside Europe to Adopt PEPPOL E-invoicing System

30 May 2018

The country has become the first outside Europe to sign up to the Pan-European Public Procurement On-Line (PEPPOL) system, which will see a new national electronic-invoicing (e-invoicing) standard ado...Read More

10.

MYANMAR: Self-Assessed Income Tax Regime Looks to End Illegal Tax Negotiations

28 May 2018

In a bid to clamp down on illegally-negotiated tax payments and reduce the overall level of tax evasion, the country is to switch to a self-assessment tax regime....Read More

11.

MALAYSIA: Goods and Services Tax Effectively Abolished as of 1 June

18 May 2018

Malaysia’s Goods and Services Tax (GST) is set to be, effectively, abolished as of 1 June this year. In the first instance, it will be cut from its present rate of 6% to 0%, before being formally abol...Read More

12.

VIETNAM: Coastal City Launches Online SME Showcase and Business Matching Service

14 May 2018

The coastal city of Danang has launched a dedicated portal – www.danangtrade.gov.vn – designed to showcase local SME products....Read More

13.

MYANMAR: Businesses Face January 2019 Deadline for Online Re-registration

11 May 2018

Once the country’s online business registration system launches on 1 August, companies will have until 31 January 2019 to migrate their details to the new portal....Read More

14.

CAMBODIA: Raft of Incentives Looks to Woo Small Businesses into Tax Registration

10 May 2018

In a bid to woo the 95% of the country’s 510,000 micro, small and medium enterprises (MSMEs) that remain firmly in the informal sector, a raft of incentives is on offer to any that voluntarily registe...Read More

15.

INDONESIA: Government Moves to Streamline FDI Tax Exemption Procedures

27 April 2018

FDI-backed businesses looking to take advantage of the country’s corporate income tax (CIT) exemption incentives should find things a little easier in future, with the application process cut from nin...Read More

16.

LAOS: Minimum Monthly Wage to Increase to US$132 as of 1 May

26 April 2018

The minimum monthly wage is set to increase from Kip900,000 (US$108) to Kip1,100,000 (US$132) as of 1 May 2018....Read More

17.

VIETNAM: Binh Duong Moves to Streamline Business Incorporation Procedures

16 April 2018

The processing time for securing an Enterprise Registration Certificate (ERC) has been cut from four days to just two in Binh Duong, a province some 40 kilometres to the north of Ho Chi Minh City (HCM...Read More

18.

SRI LANKA: Company Ownership in Excess of 25% Shares to be Subject to Mandatory Reporting

13 April 2018

Individuals who hold more than 25% stake in a company in Sri Lanka will soon see their personal details as well as details of their beneficial interest in shares reported to the country’s Registrar of...Read More

19.

INDONESIA: Streamlined Approval Procedures Introduced for Overseas Workers

12 April 2018

In a bid to streamline the required work permit/residence approval process, would-be foreign workers are to be permitted to file a single application for both the Limited Stay Visa (Visa Tinggal Terba...Read More

20.

VIETNAM: CIT Rate to be Lowered to 15-17% in Bid to Boost Competitiveness

11 April 2018

Vietnam’s Prime Minister Nguyen Xuan Phuc recently revealed in a business summit that the government has planned to reduce the country’s corporate income tax (CIT) rate from 20-22% at present to 15-17...Read More

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