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1.

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

2.

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

3.

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

4.

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

5.

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

6.

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

7.

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

8.

MYANMAR: Business Registration Fee Cut by 50% and Set to Go Online

20 March 2018

As of 1 April 2018, the fee for the registration of small and medium-sized enterprises (SMEs) in Myanmar will be cut from Kyat 500,000 (US$371) to Kyat 250,000....Read More

9.

VIETNAM: Construction Permit Approval Time Cut from 166 Days to 120

20 March 2018

The maximum time for construction permit approval is cut from 166 days to 120 with immediate effect. The move is in line with recent calls from the prime minister to streamline the approval process....Read More

10.

INDONESIA: Corporate Income Tax Rate Cut from 1% to 0.5% for SMEs

14 March 2018

The annual preferential corporate income tax (CIT) rate for small and medium enterprises (SMEs) in Indonesia has been cut from 1% to 0.5%....Read More

11.

INDIA: E-Waybill Clarifications and Amendments Issued Prior to 1 April Implementation

12 March 2018

With the proposed movement of any goods valued at INR50,000 (US$776) or above over a distance of 10km or more having to be pre-registered online, a number of clarifications have been issued regarding ...Read More

12.

LAOS: Vientiane Businesses Set to Lose Licences if Back Taxes Not Cleared by 30 April

2 March 2018

Businesses based in Vientiane, the national capital, have until 30 April to pay any overdue taxes, with those that fail to meet this deadline likely to have their business licences revoked....Read More

13.

INDIA: In-Person Tax Assessments Abolished in Favour of Online Processing

1 March 2018

Taxpayers (or their appointed representatives) will no longer be required to attend the offices of the country’s Income Tax Department for tax assessment or verification purposes....Read More

14.

SAUDI ARABIA: Kingdom Approves its First Ever Bankruptcy Legislation

28 Feb 2018

The country’s recently-approved Bankruptcy Law, the first such legislation to be adopted by the kingdom, contains provisions related to three key areas – preventive settlements, financial restructurin...Read More

15.

CAMBODIA: 1 April Electricity Charge Cut Set to Benefit Business and Residential Users

26 Feb 2018

Electricity charges for both commercial and residential users are set to be cut from 1 April this year across many of the country’s cities and provinces....Read More

16.

CAMBODIA: Mandatory On-Site Inspections Introduced for Employers of Overseas Staff

22 Feb 2018

All businesses employing overseas workers are to be subject to on-site inspections by officials from the Ministry of Labour and the Ministry of the Interior. As part of these mandatory inspections, em...Read More

17.

MYANMAR: Withholding Tax Set to be Abolished from 1 April 2018

15 Feb 2018

All forms of withholding tax in Myanmar are set to be abolished from 1 April 2018. At present, tax is required to be withheld at the rate of 15% for all royalty and interest payable to non-residents....Read More

18.

PHILIPPINES: All Field Audits and Ongoing Tax Investigations Suspended

7 Feb 2018

All ongoing cases of tax investigation in the Philippines have now been suspended, with the Bureau of Internal Revenue (BIR) withdrawing all mission orders (MOs) issued to tax officials for conducting...Read More

19.

CAMBODIA: Mandatory Online Business Registration Deadline Extended Through December 2018

2 Feb 2018

The deadline for companies in Cambodia to complete their mandatory online registration has been extended yet again. This latest extension to 31 December 2018 follows several extension announcements in...Read More

20.

INDIA: Customs Duty Raised on Phones, Auto Parts, Jewellery, Sunglasses and Toys

2 Feb 2018

The Indian government has raised the Basic Customs Duty (BCD) on a range of imported products, including mobile phones, toys, watches, footwear, imitation jewellery as well as certain specified precio...Read More

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