Featured News
Stay on top of the latest business news from across Asia. Here we bring you a selection of the latest articles on economic, regulatory, tax, HR, and payroll developments published on our respective regional platforms.
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China Briefing
Asia Transfer Pricing Brief: Q1 2024
In our Asia Transfer Pricing Brief for Q1 2024, we introduce Indonesia's updated transfer pricing guidelines and highlight Singapore and Hong Kong's progress on implementing Pillar Two income inclusion rule and domestic top-up tax rule.
China’s Economy Expands 5.3% in Q1 2024
China's GDP expanded 5.3% in Q1 2024 thanks to strong manufacturing and services output, setting the country on track to reach its annual growth target.
A Guide to China’s New Company Law for Foreign Investors – New Publication Out Now
China's New Company Law has far-reaching implications for businesses. In this publication, we guide foreign investors through the changes of the New Company Law for existing and new FIEs and relevant stakeholders.
Annual CIT Reconciliation in 2024 - A Brief Guide for Companies
Companies are advised to begin tax filing procedures as soon as possible to complete CIT reconciliation before the deadline of May 31, 2024.
India Briefing
Goods and Services Taxes in India 2024 - New Publication Out Now
India Briefing discusses how the Goods and Services Tax regime works in India, applicable rates for 2024, and reporting obligations for businesses.
Import and Export Procedures in India
Businesses planning to import or export from India must understand the stages involved in the process, the regulatory framework, and documentation required.
Interim Budget Rounds Up Key Tax Reforms, Makes Case for Modi Re-Election
Finance Minister Nirmala Sitharaman rounded up the government's recent tax measures in her 2024 interim budget, with no new changes to the tax regime, in a marked departure from 2019. We list some of the highlighted policy achievements in this brief and note a few extensions.
India's New Tax Compliance Law Impacting MSMEs: Section 43B(h) Explained
We discuss why specified companies could face higher taxable incomes under section 43B(h) of the Income-tax Act, 1961, due to delayed payments to MSME suppliers.
Vietnam Briefing
UNDP Releases Vietnam PAPI 2023 Report: Progress on Anti-Corruption, E-Governance
In the PAPI 2023 Rankings, Thua Thien-Hue Province in central Vietnam claimed the top spot among 63 localities with 46.04 points. Thai Nguyen and Bac Ninh Provinces secured second and third positions with 45.78 and 45.7 points, respectively.
Vietnam’s State of the Economy: Q1 2024 Report
Vietnam's economy saw GDP y-o-y growth at 5.66% and an FDI uptick at 13.4% (as of March 20) in the January-March quarter of 2024 (Q1 2024).
Vietnam Advisory on Swapping of Working Days Around April 30 and May 1, 2024 Holidays
Vietnam's labor authority MOLISA has proposed a swap of workdays for the 2024 Reunification Day and International Workers' Day holiday.
An Investor’s Guide to Vietnam’s Bắc Ninh Province
Despite being the smallest province in Vietnam, Bắc Ninh province is emerging as an industrial powerhouse in the Red River Delta region.
ASEAN Briefing
Prabowo Subianto Becomes Indonesian President
On April 22, 2024, Indonesia’s General Election Commission officially declared Prabowo Subianto and Gibran Rakabuming Raka as the next president and vice president respectively.
Singapore Designates Lawrence Wong as Prime Minister, Effective May 15
Singapore’s Deputy Prime Minister Lawrence Wong will take over as Prime Minister in May from Lee Hsien Loong, who will step down after 20 years in office.
Formalized Flexible Work Arrangements to Be Introduced in Singapore from December 2024
Singapore is set to implement new guidelines requiring all employers to have a formal process in place for workers to request flexible work arrangements, starting December 2024.
Thailand Contemplates Protective Tariffs on Chinese Imports Amidst Surging Trade Deficit
The Thai government is considering imposing a VAT on Chinese goods priced less than 1,500 baht (US$40) that are routed through Thailand’s free trade zones.