Economists' Pick - Regulatory Alert - Asia | HKTDC

Regulatory Alert - Asia

1.

MALAYSIA: Accession to Madrid Protocol Boosts Trademark Protection for Overseas Companies

16 Oct 2019

Overseas businesses operating in the country will have enhanced trademark protection from 27 December this year when Malaysia officially becomes a signatory to the Madrid Protocol – an international a...

2.

THAILAND: Foreign Business Licence Requirement Waived in Four Industry Sectors

15 Oct 2019

The need to secure a foreign business licences prior to beginning operations in four commercial sectors is to be waived – telecommunications services provided under 卜Telecommunications Licence Type I ...

3.

THAILAND: Financial Institutions and Businesses Obliged to Verify Source of Customer Funds

14 Oct 2019

Banks and financial institutions, as well as certain other specified businesses, are to be obliged to verify the source of their customers’ funds when conducting transactions....

4.

LAOS: Savannakhét Road Checkpoints Come Down in Bid to Boost Freight Flow

3 Oct 2019

In a bid to expedite the movement of freight transport, all inspection checkpoints along main roads in the Savannakhét province have been dismantled....

5.

INDIA: GST Revisions Likely to Impact on Business of Hong Kong Importers/Exporters

2 Oct 2019

The Goods and Service Tax (GST) on several products/services of relevance to Hong Kong suppliers and investors was revised as of 1 October....

6.

INDIA: Government Stimulus Package Seeks to Reboot Slowing Economy

11 Sept 2019

A government-backed stimulus package is to be introduced as part of moves to tackle the country’s economic slowdown. Among the measures to be adopted, five are seen as having particular significance...

7.

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...

8.

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...

9.

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....

10.

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...

11.

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....

12.

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...

13.

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...

14.

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...

15.

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...

16.

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...

17.

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...

18.

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....

19.

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....

20.

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...

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