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1.

PHILIPPINES: Zero Levies Re-instated for Approved FDI Imports

20 July 2018

FDI-backed businesses can once again import certain approved capital goods on a duty-free basis. The move sees the revival of an incentive scheme that originally expired in May this year, with eligibl...Read More

2.

BANGLADESH: Approved Businesses to be Exempt from Customs Checks

19 July 2018

All goods imported/exported by companies that have been approved by the country’s new Authorised Economic Operator (AEO) scheme will be exempt from statutory customs checks....Read More

3.

UAE: VAT Reclaim Scheme Introduced in Bid to Boost Tourism Sector

18 July 2018

As of October this year, non-resident tourists will be entitled to reclaim the VAT on purchases made at certain government-designated retail outlets....Read More

4.

THAILAND: Infrastructure-Proximate Land and Property Owners Face Windfall Tax

17 July 2018

Landowners – whether individual or corporate – are to be taxed on the rise in the value of any of their properties occasioned by being 5km or less from a major transport infrastructure project....Read More

5.

INDONESIA: 60-Minute Business Licence Processing System Comes Online

16 July 2018

Individuals and businesses – including overseas investors – can now register and secure any required licences within 60 minutes, including location, environmental and building permits....Read More

6.

SAUDI ARABIA: Real Estate Ownership Potentially Opening-Up to Overseas Investors

13 July 2018

Overseas investors are to be entitled to wholly-own property under the terms of the country’s proposed Public-Private Partnership (PPP) Law....Read More

7.

MYANMAR: Trading on Yangon Stock Exchange to be Opened-Up to Non-Locals

12 July 2018

As of 1 August this year, non-local residents are to be permitted to buy and sell shares on the Yangon Stock Exchange (YSX)....Read More

8.

INDIA: India Cuts Import Duty on China-Origin Goods as US-Sparked Trade War Intensifies

11 July 2018

Duty concessions are now in place with regard to the import of 3,142 categories of products from China, Bangladesh, Laos, South Korea, and Sri Lanka....Read More

9.

THAILAND: Temporarily-Reduced 7% VAT Rate Extended for 19th Year

10 July 2018

The currently-reduced 7% VAT rate is to be maintained until at least the end of September 2019. Previously scheduled to expire on 1 October this year, this marks the 19th time the reduced rate has bee...Read More

10.

INDONESIA: Clampdown on Child-Targetted Condensed Milk Products Announced

9 July 2018

It is now illegal to promote sweetened condensed milk (and its derivatives) as nutritional dairy substitutes for children or infants....Read More

11.

MYANMAR: Companies Face Mandatory Re-Registration Following August Business Portal Launch

6 July 2018

When Myanmar Companies Online (MyCO), the country’s new digital business registration system, is launched on 1 August, existing businesses will be able to complete their mandatory registration free-of...Read More

12.

BANGLADESH: Purchase of Older Vessels to be VAT-Exempt in Bid to Boost Local Shipping Sector

5 July 2018

The purchase of ships that are up to 22-years old is now to be VAT-exempt. Previously, VAT was payable whenever a ship built more than 15 years ago was acquired....Read More

13.

INDIA: FDI-backed Retailers Obliged to Maintain Separate Food and Non-Food Accounts

4 July 2018

FDI-backed retail companies must maintain separate accounts for their food and non-food businesses although they are to be permitted to use the same warehousing facilities – duly divided – for both el...Read More

14.

CAMBODIA: Online Certificate of Origin System Rolled Out on in Vietnam Border Provinces

3 July 2018

Use of the county’s online Certificates of Origin (CO) system has been extended to two of the province’s bordering Vietnam – Ratanak Kiri and Tboung Khmum....Read More

15.

INDIA: Tax Exemptions Out, Job Creation Rewards In, as SEZ Incentive Review Takes Shape

29 June 2018

The looming overhaul of the country’s Special Economic Zone (SEZ) incentive schemes is expected to see many of the currently-available tax exemptions dropped in favour of measures designed to reward t...Read More

16.

MYANMAR: GSP Benefits Only Open to State-Registered Exporters

27 June 2018

Companies looking to export goods to the European Union, Switzerland, Norway or Turkey under the Generalised System of Preferences (GSP) programme must be listed on the Ministry of Commerce’s Register...Read More

17.

LAOS: Exporters and State-Designated Priority Sectors Freed from VAT Liability

26 June 2018

Export-oriented manufacturers and business in certain state-designated priority sectors are to be exempt from paying VAT....Read More

18.

PHILIPPINES: High-Sugar Content Drinks to Carry Mandatory Health Warnings

25 June 2018

The potential health risks of sugar-sweetened/energy drinks are to be highlighted on all relevant product labelling....Read More

19.

MALAYSIA: Extended Tax Holidays for High-Tech FDI-Backed Projects

22 June 2018

Extensions to the existing 10-year Corporate Income Tax (CIT) exemption entitlement for FDI-backed initiatives are now on offer to any such project likely to provide work for suitably skilled staff in...Read More

20.

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

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