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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.

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

3.

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

4.

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

5.

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

6.

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

7.

VIETNAM: Government Urges Social Media Advertising Boycott in Bid to Purge Dissident Content

23 March 2017

The government has called for a boycott of social media advertisement until such platforms are free of any or all anti-government content. Already several multinational companies with operations in Vi...Read More

8.

VIETNAM: 40 FDI Projects Lose Licence Over Excessive Delays and Lack of Progress

10 March 2017

The investment permits for 40 FDI Projects have been cancelled. All of the projects were based in the southern Dong Nai province, not far from Ho Chi Minh City, and all had either been abandoned or su...Read More

9.

INDIA: Accelerated Trademarking Process Cuts Paperwork While Increasing Fees

8 March 2017

The number of application forms required to register a trademark in India has been slashed from 74 to just eight, as the government looks to streamline this once notoriously lengthy process....Read More

10.

VIETNAM: 20% Cap on Lending Rates Set to be Abolished

6 March 2017

The 20% cap on lending rates for banks and other credit agencies in Vietnam is to be abolished as of 15 March. In line with a directive from the country’s central bank, lenders will now be free to agr...Read More

11.

CAMBODIA: Two-Year Corporate Tax Exemption on Offer to SMEs that Opt to Go Legit

1 March 2017

SMEs that voluntarily register with Cambodia’s General Department of Taxation (GDT) before the end of 2018 are to be exempt from Corporate Income Tax (CIT) for two consecutive years....Read More

12.

INDONESIA: SMEs and Professionals Targetted During Closing Weeks of Tax Amnesty

14 Feb 2017

With its nine-month tax amnesty set to end on 31 March, the Indonesian government is focussing on SMEs and professional individuals over the closing weeks of the initiative....Read More

13.

INDIA: Foreign Investment Promotion Board Scrapped as FDI Regime Faces Further Liberalisation

9 Feb 2017

With the country’s Foreign Investment Promotion Board (FIPB) now set to be scrapped, all future FDI proposals requiring prior government approval will be solely handled by the relevant ministries....Read More

14.

MYANMAR: Jail Threat to Resident Foreigners Absent from Registered Address for 24 Hours or More

7 Feb 2017

Resident foreigners will need to seek prior approval from their local immigration office prior to taking any trip within the country that sees them absent from their registered address for 24 hours or...Read More

15.

MYANMAR: Illicit Export Earnings Targetted in Government Crackdown

27 Jan 2017

The export earnings of all businesses are to be subject to greater scrutiny, with legal action likely against any company that fails to properly declare such transactions....Read More

16.

INDIA: Cash Transactions Set to be Taxed in Bid to Boost Digital Payments

26 Jan 2017

All cash transactions with a value of more INR 50,000 (US$733) are to be taxed under new government proposals. The legislation also looks to abolish transaction charges on credit and debit card paymen...Read More

17.

CAMBODIA: Undeclared and Underpaid Tax Amnesty to End on 1 April

26 Jan 2017

Businesses with underpaid or undeclared tax liabilities dating back over the last three years will face no penalty if they declare any omissions before 1 April....Read More

18.

CAMBODIA: New Customs Seal Introduced for Imported Smartphones, Watches and Liquor to Combat Counterfeiting and Smuggling

5 Jan 2017

All smartphones, watches and liquor products imported into Cambodia with a value of US$50 or more will now have to bear a seal issued by the customs department....Read More

19.

INDIA: Imported Telecom Products to Undergo Government Screening from 1 April

5 Jan 2017

Telecom equipment imported into India is to be subject to security screening at government-affiliated laboratories. Beginning as a pilot scheme from 1 April, the first phase will focus on any telecom ...Read More

20.

MYANMAR: Ban on Used Vehicle Imports Set to Boost Domestic Automotive Industry

4 Jan 2017

Vehicle imports to the country are now restricted to right-hand drive models manufactured post-2015. While the move has been seen as a blow to Myanmar’s second-hand car market, it is expected to provi...Read More

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