WHO WE ARE
Asia Briefing publishes articles, magazines, and guides on doing business in Asia.
It has been produced by Dezan Shira and Associates since 1999.
We highlight key tax deadlines in India in 2021, including tax reporting dates, deadlines for audit compliance, and relevant dates for tax and finance obligations. These impact salaried taxpayers, businesses, and senior citizens. It is important to note the latest dates and avoid incompliance and penalties due to exigencies; many deadlines have been extended (since last year) by the government due to the pandemic.
Support measures for China’s three-child policy include tax deductions, expanding childcare services, and optimizing the leaves policy to support childcare. The moves are meant to boost births and address the country’s demographic imbalance. Businesses in China should pay attention to how these measures could affect their HR and payroll policies. Service industries, in turn, can assess new market opportunities.
Vietnam’s supply chains are constantly evolving thanks to high growth and where it fits in international trade. While Vietnam has emerged as an effective China plus location, we take a look at its peers and compare them as alternate production sites. We conclude with factors peculiar to Vietnam and what investors need to know when considering the country as a production location.
Both China and Russia are ahead of the West in terms of developing digital currencies, while Iran has introduced the ‘Covenant‘ and other blocs such as the Eurasian Economic Union and BRICS are also discussing the development of specific digital currencies in order to trade. We examine usage and how these differ from cryptocurrencies.
China recently issued guidelines clarifying the legitimacy of electronic labor contracts and explaining important considerations when concluding, transferring, and preserving an electronic labor contract. It adds obligations to employers in the process of concluding the labor contract with employees, to protect the employees’ right to know and other relevant interests. It is recommended that employers keep abreast of local e-labor contract dispute cases or consult local legal professionals when signing e-labor contracts.
Cryptocurrency in India may attract tax liability, but the rules are still unclear as the Reserve Bank of India has not yet granted this asset class the status of a legal tender. However, in March 2020, the Indian Supreme Court permitted banks to handle cryptocurrency transactions from traders and exchanges.
Planned port, canal and maritime connections would provide new infrastructure links between West and Central Asia. Syria’s attractiveness lies within its ‘Five Seas” capability, a plan to link the Caspian, Black, Mediterranean and Red Seas with the Persian Gulf.
There are growth opportunities for foreign investors especially in transport services, related to two growth drivers, a change in Russia’s tax regime in this sector and growth in the export of transport services – with an increase in the volume of transit traffic. Rail freight from China to Europe transiting Russia doubled in 2020 and looks like doing so again this year.
The first five months of the year have yielded positive results for intra-Eurasian Economic Union (EAEU) trade, which has increased by 33% compared with the same period last year. The EAEU is a trade bloc that extends from the borders of the EU with Poland, Latvia and Lithuania and continues as a land mass to the borders of Western China. It includes Armenia, Belarus, Kazakhstan, Kyrgyzstan, and Russia and has a GDP (PPP) of about US$5 trillion. Foreign trade with the EAEU increased by 19% over the same period and totaled US$297.4 billion.
Chinese President Xi Jinping's speech at the Asia-Pacific Economic Cooperation (APEC) meeting on Friday included a four-point proposal for APEC cooperation, based on the themes of strengthening international cooperation over Covid-19, deepening regional economic integration; pursue inclusive and sustainable development; and seize opportunities for scientific and technological innovation. We examine each of these sections and provide analysis.
MOM Reg 8/2021 is an implementing regulation that details the requirements businesses must fulfill to hire foreign workers.
Qingdao's blue economy is rapidly modernizing and its seaport ships bulk resources like oil, iron ore, and coal; the city is now looking to grow FMCG trade.
The Maharashtra government facilitates adoption of electric vehicles through price drop incentives and subsidies for both consumers and manufacturers.
Vietnam Briefing examines Vietnam as a China plus one alternate production location and compares it with its regional peers.