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Regulatory Alert - Asia

1.

MYANMAR: Online Construction Permit System Set to Cut Processing Time by 50%

19 Aug 2019

The Yangon Building Permit System (YBPS), an online construction permit facility, is to be piloted among duly-accredited architects and construction engineers in Yangon, the country’s commercial capit...

2.

INDIA: Consumer Protection Regime Revised and Extended

12 Aug 2019

In a bid to streamline the redressal of consumer grievances and the settlement of any disputes, a number of revisions to the country’s consumer protection regulations have been approved. Billed as the...

3.

MALAYSIA: Construction Permit Approval Time Cut from 390 Days to 90

23 July 2019

The maximum time for a construction permit to be approved has been cut to 90 days, a considerable reduction from the somewhat lengthy 390-day limit that previously applied....

4.

PHILIPPINES: Would-be Overseas Workers Obliged to Secure ‘No Objection’ Certificate

15 July 2019

Prior to applying for the required permits to work and reside in the country, would-be overseas employees now need to secure a No Objection Certificate (NOC) from the Department of Labor and Employmen...

5.

INDIA: Mandatory Social Security Contributions Cut for Employers and Employees

12 July 2019

The mandatory combined employer/employee social security contribution is to be cut to 4% of a worker’s salary (from its current level of 6.5%) as of 1 July this year....

6.

CAMBODIA: Hong Kong Signs Comprehensive Double Taxation Agreement with Cambodia

10 July 2019

Hong Kong has signed a comprehensive avoidance of Double Taxation Agreement (DTA) with Cambodia. Under the terms of the deal signed on 26 June, any tax paid in Cambodia by Hong Kong businesses will be...

7.

LAOS: Electricity Charge Cut Announced in Bid to Boost Investments and Manufacturing Output

9 July 2019

Electricity charges for commercial and residential users are set to be cut across the country. According to the Lao government, the revised tariffs will not only provide a benefit for low-income users...

8.

VIETNAM: Overseas E-Commerce Businesses Set to Become Income Tax-Liable

5 July 2019

Tax is to be payable on all of the country’s digital transactions from 1 July 2020. For the first time, this will see overseas companies in receipt of Vietnam-sourced online payments liable to pay inc...

9.

THAILAND: Biodegradable Plastic Packaging Tax Incentives Adopted

17 June 2019

Businesses are now entitled to claim tax deductions of up to 1.25 times the amount they spend on biodegradable plastic packaging. This deduction may be claimed against all relevant expenses incurred b...

10.

PHILIPPINES: Companies Obliged to Hire Workers Directly as Intermediaries Face Ban

10 June 2019

Employers are to be obliged to hire workers directly and not through any intermediary agency under the terms of recently-adopted legislation. In more specific terms, it will be illegal for third-party...

11.

CAMBODIA: 1% Minimum Tax Cancelled for All Businesses

6 June 2019

All the country’s businesses are now exempt from the annual Minimum Tax (MT). Under the terms of country’s self-assessed taxation regime, the MT was previously payable at a rate of 1% of a company’s a...

12.

PHILIPPINES: Public Service Fees Set to Be Nationally Standardised

5 June 2019

Local government bodies across the country must now ensure that any fees that they charge for public services are both reasonable and business-friendly....

13.

PHILIPPINES: Flexible Work Arrangements Approved for Employees

27 May 2019

Employers and employees in the Philippines will soon be free to adopt mutually agreed flexible work arrangements in place of the standard eight-hour day....

14.

MYANMAR: Legal Action Threatened Against Unauthorised Online Sale of Cosmetics Products

24 May 2019

Retail businesses that import cosmetics products illegally or sell them via online channels without first procuring the requisite licences will now be liable to legal action, according to a recent ann...

15.

PHILIPPINES: Tighter Regulations Introduced for Temporary Permits for Non-Local Workers

10 May 2019

In a bid to end any abuse of the country’s existing regulatory regime with regard to the provision of temporary work permits for overseas nationals, such Special Work Permits (SWP) will only be issuab...

16.

INDIA: Mandatory State-Supervised E-Invoicing System Under Active Consideration

9 May 2019

The Indian government is considering making electronic invoicing (e-invoicing) mandatory for all the country’s larger businesses....

17.

MYANMAR: 2% Export Withholding Tax Reinstated as of 1 May

7 May 2019

The 2% withholding tax on export income was reinstated for all business as of 1 May. The reintroduction of the tax, which was abolished in January 2018 for all registered large and medium-sized compan...

18.

INDONESIA: Government Crackdown Shuts Down 144 Unlicensed Fintech Companies

6 May 2019

Unlicensed fintech companies and platforms have been targetted as part of a new government crackdown, with the Financial Services Authority (OJK) banning and blocking as many as 144 peer-to-peer lendi...

19.

CAMBODIA: Domestic Banks Give the Go-Ahead to Settle Electronic Payments in Yuan

3 May 2019

At total of 15 of the country’s domestic banks have been given the go-ahead to settle electronic payments in Yuan, including any transactions made via several popular third-party digital payment gatew...

20.

LAOS: Online Export-Import Licence Processing Set to be Made Mandatory

16 April 2019

The manual processing of import/export licences as well as permits for the transit/import of goods for re-export is to be phased out....

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Fun Facts on Healthy Living

Government regulations on food

sweetened beverages

trans fat products

Soft drinks and sweetened beverages are taxed at 50% in Saudi Arabia.

Singapore will ban the import and sale of trans fat products as of June 2021.

It is now illegal in Indonesia to promote sweetened condensed milk as nutritional dairy substitutes for children or infants. Commercials related to such products are prohibited during child-oriented TV programming.

In Philippines, the potential health risks of sugar-sweetened/energy drinks have to be highlighted on all relevant product labelling. The government increased earlier the tax payable on all products with a high-sugar content.

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