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1.

INDIA: 250,000 Dormant Businesses to be Purged from Register of Companies

21 April 2017

Some 250,000 businesses across India face being struck off the Register of Companies on the grounds of inactivity. The purge will apply to any company that has either failed to commence business opera...Read More

2.

INDIA: Local Businesses Now Cleared to Merge into Overseas Companies

20 April 2017

Indian companies will now be permitted to merge into overseas businesses for the first time, following an amendment to the Companies Act (2013) on 13 April....Read More

3.

PHILIPPINES: State-owned SEZ Sector Set to Soar on Re-purposed Farm land

19 April 2017

The development of Special Economic Zones (SEZs) is to be exempt from a proposed two-year moratorium on the re-purposing of farmland for non-agricultural use....Read More

4.

LAOS: New Tax Incentives Unveiled for Designated Projects in Undeveloped Regions

18 April 2017

Extended tax incentives are now on offer for FDI projects operating in the less-developed regions of the country. In particular, projects in the agriculture and healthcare sectors will qualify for pro...Read More

5.

VIETNAM: Hanoi Authorities Issue US$3 Billion FDI Call to Fund Infrastructure Programme

18 April 2017

Hanoi’s municipal government has issued a call for US$3 billion in FDI as it looks to embark on an ambitious programme of large-scale urban infrastructure development, most notably on a scheme to impr...Read More

6.

LAOS: Greater Transparency Promised for Streamlined SEZ Investment Procedures

12 April 2017

Procedures for investing in the country’s 12 Special Economic Zones (SEZs) are set to be streamlined and made more transparent in a bid to both boost the confidence of would-be investors and to reduce...Read More

7.

MYANMAR: Government Issues List of Approved and Proscribed FDI Sectors

12 April 2017

An official list of business sectors suitable for foreign investment, as well as a list of those sectors where such investment is proscribed, has just been issued by the Myanmar Investment Commission ...Read More

8.

THAILAND: 50% Cut in Corporate Tax Added to Incentives for Coastal Corridor Investors

10 April 2017

A 50% reduction in corporate income tax (CIT) over a five-year period is now on offer to investors in Thailand’s Eastern Economic Corridor (EEC), which straddles three coastal provinces ̶̶ Chachoengsa...Read More

9.

MALAYSIA: Statutory Bankruptcy Discharge and Higher Initiation Threshold Introduced

7 April 2017

Bankruptcy proceedings can now only be initiated against companies that owe RM50,000 (US$11,280) rather than the previous threshold of RM30,000 (US$6,768)....Read More

10.

INDIA: Legislation Paves Way for Rationalisation of Indirect Taxation

6 April 2017

Four supplementary bills are set to be adopted in the run-up to the July 1 enactment of the Goods and Services Tax (GST), the centrepiece of the Indian government’s bid to rationalise the country’s fr...Read More

11.

INDONESIA: Private Sector Financing Sought for National Infrastructure Projects

5 April 2017

The government is looking to stimulate private infrastructure financing through its Government and Business Entity Cooperation (KPBU) initiative ˗ its Public-Private Partnership (PPP) scheme ˗ and its...Read More

12.

INDONESIA: Deadline for Tax Returns Extended to 21 April

5 April 2017

The 31 March deadline for filing of income tax returns has been extended to 21 April for individual tax payers. However, no additional time will be given with regard to payments, with any overdue taxe...Read More

13.

UAE: 5% VAT Set to be Implemented from 1 January 2018, exemptions allowed

31 March 2017

The government is planning to introduce a 5% value added tax (VAT) on goods and services with effect from 1 January 2018. While it is yet to specify the complete list of goods and services to be subje...Read More

14.

VIETNAM: New Industrial Park in Thai Nguyen Province Gets Official Greenlight

30 March 2017

The government has approved the setting up of infrastructure facilities for the Song Cong 2 Industrial Park (IP) in the city of Song Cong in the northern province of Thai Nguyen, some 80km from Hanoi....Read More

15.

MYANMAR: SEZ Licences for Overseas Insurance Companies Mark First Step Towards Liberalisation

29 March 2017

Overseas insurance companies can now apply for a licence to conduct business within the Thilawa Special Economic Zone (SEZ), the only such zone operational in the country....Read More

16.

THAILAND: Unused Land and Second Homes to be Taxed from January 2018

27 March 2017

Vacant and unused land in Thailand is to be taxed on an incremental basis from January 2018. Under the terms of incoming legislation, owners of such land will be required to pay a tax equal to 2% of i...Read More

17.

INDIA: Small Businesses to Get 5% Corporate Income Tax Cut from Incoming Finance Bill

27 March 2017

Companies with an annual turnover of INR500 million (US$7.6 million) or less are to pay corporate income tax (CIT) at a reduced rate of 25%, a 5% cut from the current rate....Read More

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