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1.

MALAYSIA: 10% Product Tax and 6% Services Tax Set for 1 September Implementation

14 Aug 2018

As of 1 September, a 10% tax will be payable on all goods sold in the country, while services will be subject to a 6% levy....Read More

2.

SRI LANKA: Seven-Day Electronic Transfer Mandatory for Shareholder Dividends

13 Aug 2018

Companies listed on the Sri Lankan Stock Exchange are now obliged to electronically-transfer dividends to the bank accounts of their shareholders within seven working days of their initial issuance....Read More

3.

THAILAND: Tax Data Set to be Shared with Overseas Partner Countries

9 Aug 2018

The country’s tax authorities are set to share tax-related data with their overseas counterparts in a move designed to ensure that Thailand’s fiscal regime is in compliance with its affiliation to the...Read More

4.

MYANMAR: Overseas Banks Authorised to Lend to Approved Domestic Importers

8 Aug 2018

For the first time, all the 13 overseas-headquartered banks currently operating in the country are to be permitted to extend credit to reputable import-oriented domestic businesses....Read More

5.

SINGAPORE: Licensing and Oversight of Food Sector to be Integrated into One Agency

1 Aug 2018

Oversight of the food retail sector, which is currently divided across three different government departments, is to be integrated into one body – the Singapore Food Agency (SFA) – as of 1 April 2019....Read More

6.

MYANMAR: Mandatory Company Online Registration Procedures Issued

31 July 2018

With all companies – new and established – obliged to register on the recently-launched Myanmar Companies Online (MyCO) portal, the Directorate of Investment and Company Administration (DICA) has rele...Read More

7.

MYANMAR: Bundling of Native Language User Manuals Now Mandatory

26 July 2018

A Burmese language user manual must now be bundled with any consumer product sold in the country. Businesses have six months to comply with this Consumer Protection Central Committee directive, which ...Read More

8.

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

9.

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

10.

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

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.

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

13.

UAE: New Government Schemes Slashes Costs of Mandatory Employee Insurance

20 June 2018

Employers will no longer be required to provide a cash guarantee of UAE Dirham 3,000 (US$817) for each new worker they recruit....Read More

14.

VIETNAM: Controversial Cybersecurity Law Set to Make All User Data Government-Accessible

15 June 2018

Vietnam's controversial new Law on Cybersecurity will oblige all overseas service providers – including the likes of Google and Facebook – to store all data on local users on Vietnam-based servers, wh...Read More

15.

BANGLADESH: 2018 Budget Raises Taxes in Apparel and Cosmetics Sectors

14 June 2018

The Corporate Income Tax (CIT) rate applicable to the readymade garment (RMG) production sector is to be raised to 15% from its current level of 12%. Companies looking to limit their tax liability, ho...Read More

16.

CAMBODIA: Online Economic Data Service Targets Overseas Investors

8 June 2018

Overseas investors are to be given instant access to a vast range of economic data relating to the country via the National Summary Data Page (NSDP), a new, government-backed online resource....Read More

17.

INDONESIA: Tax Dodgers Face Ban on Overseas Travel

4 June 2018

Tax evaders face being banned from leaving the country as the government continues its crackdown on individuals and businesses who fail to remit the statutory proportion of their earnings to the exche...Read More

18.

PHILIPPINES: Tardy Civil Servants Face Prosecution for Delayed Business Licence Approval

1 June 2018

Government officials who fail to process business licence and permit applications within a specified timeframe may find themselves liable for prosecution under the terms of the recently-enacted Ease o...Read More

19.

UAE: Planned Real Estate Portal Set to Eliminate Property Middlemen by 2020

31 May 2018

With the aim of having all real estate transactions conducted online by 2020, the Dubai Land Department, the government’s land and property agency, has announced plans to launch a comprehensive portal...Read More

20.

SINGAPORE: Country First Outside Europe to Adopt PEPPOL E-invoicing System

30 May 2018

The country has become the first outside Europe to sign up to the Pan-European Public Procurement On-Line (PEPPOL) system, which will see a new national electronic-invoicing (e-invoicing) standard ado...Read More

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