Economists' Pick - Regulatory Alert - Asia | HKTDC

Regulatory Alert - Asia

1.

PHILIPPINES: Corporation Code Amended in Bid to Boost Global Business Ranking

7 Dec 2018

As part of a series of changes intended to boost the country’s rankings on the World Bank’s Ease of Doing Business Index, a limited company will be able to establish by just one person, as opposed to ...

2.

PHILIPPINES: One-Off Personal and Corporate Tax Amnesty Set for Roll-Out

27 Nov 2018

Tax-defaulting individuals and businesses are set to be offered an one-off amnesty at the end of the year, allowing them to settle any outstanding deficits from 2017 (or from any year prior) at a redu...

3.

INDIA: State to Cover Seven Weeks of 26-Week Maternity Pay Period

26 Nov 2018

Salaries for seven of the 26 weeks of statutory maternity leave are to be covered by the state....

4.

CAMBODIA: Online Certificate of Origin System to be Extended to Thai-Proximate SEZs

21 Nov 2018

The country’s online Certificates of Origin (COs) issuing system is set to be introduced in the Special Economic Zones (SEZs) in Koh Kong and Preah Sihanouk, two provinces close to the Thai border....

5.

VIETNAM: 100% Overseas Ownership Approved for Majority of Listed Companies

20 Nov 2018

Overseas investors are to be permitted to acquire a 100% stake in the majority of the country’s listed companies....

6.

MALAYSIA: Labuan Businesses Set to Lose Flat Rate Tax Option

19 Nov 2018

As of 1 January next year, businesses based in the federal territory of Labuan will no longer be entitled to pay tax at a flat rate of RM20,000 (US$4,784) per annum....

7.

PHILIPPINES: Daily Minimum Wage Raised to US$10 in Metro Manila

16 Nov 2018

The daily minimum wage for non-agricultural workers in the Metro Manila region is to increase from P512 (US$9.5) to P537 (US$10) by the end of this month....

8.

MALAYSIA: Overseas Online Service Providers to be Taxed as of January 2019

14 Nov 2018

Overseas companies providing online services to Malaysia-based users are to be obliged to register with the country’s customs authorities for the payment of a service tax....

9.

LAOS: Online Tax Return System Makes Limited Debut

13 Nov 2018

Businesses and individuals in certain designated provinces and districts are now able to file their tax returns via the Ministry of Finance’s recently-launched online platform – the Tax Revenue Inform...

10.

MYANMAR: Six Month Deadline Announced for Local Language Labelling of Imports

9 Nov 2018

After 26 April next year, it will be illegal to sell imported goods in any one of the nine categories unless local language labelling is attached....

11.

PHILIPPINES: Financial and Education Sector Opened Up to 100% Overseas Investment

8 Nov 2018

Following a review of the country’s Foreign Investment Negative List (FINL), businesses in a number of additional sectors have been cleared to be 100% overseas-owned, including higher education (with ...

12.

MALAYSIA: All US$5,980+ Cash Transactions to be Reported as of 1 January 2019

7 Nov 2018

All banks and casinos in Malaysia will be obliged to report cash transactions of RM25,000 (US$5,980) or above as of 1 January next year....

13.

INDONESIA: 0.5% Corporate Income Tax Levy Mooted for E-Commerce Operators

6 Nov 2018

All e-commerce businesses operating in the country are to be obliged to obtain a tax identification number (NPWP) and file self-assessed income tax returns....

14.

THAILAND: Factory Licences Extended Indefinitely in Bid to Curb Corruption

2 Nov 2018

The validity of factory licences across the country is to be extended indefinitely under the terms of a proposed amendment to the Factory Act of 1992....

15.

MALAYSIA: Overseas Worker Tax to Rise as All Non-Malaysian Employees Become State-Managed

31 Oct 2018

The tax payable by overseas workers will rise by at least 20% next year following the introduction of a multi-tiered levy system....

16.

MYANMAR: Online Corruption-Proof Tax Payment System Set for 2019 Launch

29 Oct 2018

An online tax payment facility is to be introduced in 2019, superseding the current paper-based process, which is said to be open to systematic abuse on the part of both tax payers and officials....

17.

INDONESIA: Monthly Minimum Wage Set to Rise by 8.13%

26 Oct 2018

An 8.13% increase in the minimum monthly wage is to be implemented as of 1 January next year. As the minimum wage varies by region across the country, the increase will show a similar variance in real...

18.

CAMBODIA: Designated SMEs Set for Three-Year Tax Holiday

19 Oct 2018

SMEs active in certain business sectors – including agro-processing, food processing, manufacturing of local inputs and the assembly of IT products – are now eligible for 100% exemption from corporate...

19.

CAMBODIA: US$182 Minimum Monthly Wage Agreed for Workers in Garment/Footwear Sector

18 Oct 2018

The minimum monthly wage in the garment/footwear sector is to rise from US$170 to US$182 as of 1 January next year, according to an announcement by the Labour Ministry....

20.

VIETNAM: Mandatory Registration Scrapped for E-commerce Operators

16 Oct 2018

As of 18 October 2018, individuals and businesses operating e-commerce websites will no longer be obliged to register with the Ministry of Industry and Trade....

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