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1.

SRI LANKA: 15% Levy Imposed on Gold Imports Following Unexplained Surge in Volume

20 April 2018

All gold imported into Sri Lanka is now subject to a 15% levy. This marks the end of a five-year period where the precious metal was accorded duty-free status and reflects government concerns over a r...Read More

2.

INDONESIA: New Industrial Cluster Kicks-off Country’s Halal Charm Offensive

19 April 2018

A halal-focussed industrial cluster is set to be established in the Batamindo Industrial Park on Batam Island (Riau Islands Province), set 60 km to the south of the Indonesia-Singapore border....Read More

3.

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 Bin Duong, a province some 40 kilometres to the north of Ho Chi Minh City (HCMC...Read More

4.

INDIA: New Criteria for Verifying Foreign Portfolio Beneficiaries Introduced

13 April 2018

Under new criteria adopted by the Securities and Exchange Board of India (SEBI), the Beneficial Owners (BOs) of Foreign Portfolio Investors (FPI) will be deemed to be individuals owning a 25% stake (o...Read More

5.

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

6.

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

7.

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

8.

PHILIPPINES: Crackdown Initiated Against Illicitly-Employed Temporary Staff

9 April 2018

In a bid to crack down on the illicit use of sub-contracted temporary staff, many businesses in the Philippines are to be subjected to on-site inspections by the Department of Labour and Employment....Read More

9.

INDIA: 10% Customs Duty Imposed on Imported Mobile Phone PCBs, Camera Modules and Connectors

6 April 2018

Basic Customs Duty (BCD) of 10% is now payable on all imported populated printed circuit boards (PCBs), camera modules and connectors for mobile phones....Read More

10.

INDONESIA: Project Value Now Sole Criterion for FDI Tax Exemption

4 April 2018

As a change in investment strategy, the overall value of an FDI-funded project will be the sole criterion in determining its Corporate Income Tax (CIT) exemption entitlement under the country’s invest...Read More

11.

INDIA: Import of Pre-owned Electronic Goods for Export Processing Approved

4 April 2018

Pre-owned electronic goods will now be permitted to be imported into India on the condition that the imported items are exported....Read More

12.

INDONESIA: Import Permit Processing for Export Inputs Cut to Just One Hour

3 April 2018

Import permits for raw materials and other inputs required for the manufacture of export goods in Indonesia can now be secured in just one hour, a massive improvement on the previous 30-day turnaround...Read More

13.

MYANMAR: Promotion Begins for Launch of Online Business Registration System

29 March 2018

The Directorate of Investment and Company Administration has released a set of draft company incorporation forms via its website....Read More

14.

INDIA: Customs Duty on Open Cell Displays Cut from 10% to 5%

29 March 2018

The Indian government has cut the Basic Customs Duty (BCD) on imported open cell displays for LED and LCD television panels from 10% to 5%....Read More

15.

INDIA: Up To 70% Safeguard Duty Looms Over Solar Cell Imports

29 March 2018

A safeguard duty of up to 70% will be imposed on all solar cells imported into India from developed countries as well as from China and Malaysia for a period of 200 days if a proposal to that effect, ...Read More

16.

CAMBODIA: Increased Taxes on Used Vehicle Imports Mooted to Boost Domestic Automotive Industry

28 March 2018

Used cars manufactured before 2000 and imported into Cambodia are set to face increased taxes and stringent technical and environmental tests....Read More

17.

BANGLADESH: Unannounced On-Site Inspections Loom as Government Targets Tax-Dodging Overseas Staff

23 March 2018

At least 40 companies will be receiving surprise visits over the next two months as the government cracks down on undocumented overseas workers, many of whom are believed to be employed in the country...Read More

18.

INDIA: Fixed-Terms Contracts Now Approved for Use in Every Business Sector

23 March 2018

Companies in every business sector in India are now allowed to offer fixed-terms employment contracts to all staff members. Previously, such contracts could be extended only to temporary staff in the ...Read More

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