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1.

INDIA: Goods and Services Tax Bands Formally Announced

23 May 2017

More than 1,200 individual goods and services have now been allocated across the four tax tiers specified under the terms of the incoming Goods and Services Tax (GST), the centrepiece of the governmen...Read More

2.

INDONESIA: Bank Accounts Now Open to International Tax Scrutiny

22 May 2017

Indonesian tax authorities are to be allowed to access accounts held by both citizens and overseas residents in the country’s banks and other financial institutions....Read More

3.

MYANMAR: Unused Industrial Zone Land to Revert to Government After Six Months

18 May 2017

Ownership rights to unused industrial land are to revert to the government if they fail to become operational within a six-month period. The move follows concerns that such land in industrial zone sit...Read More

4.

BRUNEI: Enhanced Rights Granted to Minority Shareholders

18 May 2017

Shareholders of any Brunei-registered business are to have the right to attend company meetings and speak with regard to any matter arising. The change, an amendment to Brunei’s Companies Act, has bee...Read More

5.

INDONESIA: Carry-In Foreign Currency to be Capped at US$75,000

17 May 2017

Visitors to the country are to be restricted to bringing in a maximum of US$75,000 in foreign currency. The new limit, set by the country’s central bank, will apply as of 5 March 2018. At present, the...Read More

6.

VIETNAM: Seafood Set For Expedited Export Regime

17 May 2017

Compliance procedures for seafood exports are to be streamlined in response to concerns over the high costs and lengthy delays associated with current regulations on technical and food safety standard...Read More

7.

PHILIPPINES: Tax Incentives Mooted for Green Manufacturing Sector

16 May 2017

Energy-efficient investment projects in the manufacturing sector are to qualify for as yet unspecified tax incentives. The move, announced by the Philippines Board of Investment, will see clean energy...Read More

8.

MALAYSIA: Sarawak Imposes 6,000% Tax Hike to Protect Hill Timber

16 May 2017

The government of Sarawak state is to increase the tax on hill timber by more than sixty times, taking it from a maximum of RM0.80 (US$0.18) to RM50 (US$11.5) per cubic metre. The new rate will apply ...Read More

9.

PHILIPPINES: PPP Projects to be State-Built but Privately-Operated

12 May 2017

Upcoming public-private partnership (PPP) projects are to favour a hybrid model, with the Philippine government building the infrastructure, and private investors then operating and maintaining the fa...Read More

10.

INDIA: Central Bank Given New Powers in Crackdown on Loan Defaulters

10 May 2017

The country’s central bank, the Reserve Bank of India (RBI, has now been granted the right to instruct other banks and financial institutions to begin insolvency resolution proceedings against parties...Read More

11.

BANGLADESH: Rapid One-Stop Investment Clearance System Promised Within Six Months

10 May 2017

Investment procedures are set to be streamlined with a new one-stop option allowing users to access 16 different ministerial / governmental services from a single website, which will be set to go onli...Read More

12.

MYANMAR: FDI in Proscribed Business Sectors Must Be Registered by March 2019

9 May 2017

Foreign investors with an existing interest in any of the recently-proscribed FDI sectors have until 29 March 2019 to notify the Myanmar Investment Commission (or any other relevant state or regional ...Read More

13.

MALAYSIA: Compulsory Transhipment Ended for Goods Bound for Sarawak, Sabah and Labuan

8 May 2017

Sea freight to and from the states of Sarawak, Sabah and the Federal Territory of Labuan will no longer be required to be transhipped at the Port of Klang....Read More

14.

SRI LANKA: Private Company Registration Fee Cut by 73%

8 May 2017

The fee for the registration of a Private Limited Company has been reduced from LKR 15000 (US$97) to LKR 4000 (US$26)....Read More

15.

LAOS: Delayed or Aborted Projects Face Land Rights Forfeiture

4 May 2017

Investors whose projects fail to meet official deadlines will be stripped of all concession rights relating to the proposed site of operations. The move comes amid concerns that such land may change h...Read More

16.

INDIA: Use of Monitoring Agencies Now Mandatory for Public Offerings in Excess of US$15.5 Million

4 May 2017

Appointing a monitoring agency is now mandatory for any public offering in India, where the total value of shares sold exceeds INR 1 billion (US$15.55 million)....Read More

17.

INDIA: Overseas-Sourced Mobile Phones to Face 5-10% Import Levy

2 May 2017

Customs duties of between 5 and 10% will be levied on imported mobile phones under a government proposal to abolish their duty-free status....Read More

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