On January 15, the free trade agreement (FTA) between Australia and Japan came into effect. The agreement provides substantial tariff cuts, set to grant over 97 percent of Australian exports preferential or duty-free access to Japan.
Countries in Asia typically divide withholding tax into dividends, interest and royalties payments, with the amount of each varying considerably in each country. In this article, we compare the three withholding tax rates of China, India, Hong Kong, and the ten nations of ASEAN.
2014 was a formative year for Chinese territorial disputes with other nations. Tensions with Japan and The Philippines reached near breaking point, with signs of instability creeping into the entire Asian region. Yet behind these media-capturing headlines, trade has been booming.
On December 31, 2014, China’s Ministry of Commerce announced that it had scrapped the quotas restricting exports of rare earth minerals and would replace them with a system of export licenses. The change follows China’s unsuccessful appeal of the WTO’s ruling that found the quotas were designed to benefit domestic firms and encourage foreign investment.
Developments in the past year suggest that salaries across ASEAN as a whole will soon be adjusted. In this article, we discuss the most pertinent issues currently affecting minimum wages in ASEAN’s five smallest economies of Brunei, Cambodia, Laos, Myanmar and Vietnam.