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Economy & Trade

COVID-19 Cases in ASEAN & Asia – Regular Updates by Country

01/27/2022

We will be operating this article as a running live update service to keep businesses in the ASEAN region informed with regards to the coronavirus.

Philippines Amends Retail Trade Liberalization Act to Attract Foreign Investment

01/26/2022

The Philippines has approved the final amendments to the Retail Trade Liberalization Act, which aims to ease foreign investments in the retail sector.

Indonesia Passes Bill to Build New Capital City: Deadline 2024

01/25/2022

Indonesia's new capital needs major investment for its development, which presents ample opportunities for foreign businesses.

One Year in, What to Make of Joe Biden’s Asia Trade Policy?

01/20/2022

The longer the US stands on the sidelines concerning trade with Asia, the more American businesses face competitive disadvantages on their exports.

What Support is Available for Singapore Companies to Expand Overseas?

01/13/2022

The Market Readiness Assistance grant and Double Tax Deduction Scheme for Internationalization assist Singaporean businesses expand abroad.

Philippines Senate Passes Bill Allowing 100 Percent Foreign Ownership of Public Services

01/07/2022

The Philippines Senate has passed the final reading of Bill 2094, which amends the Public Service Act by enabling the 100 percent foreign ownership of public services.

Tax & Accounting

Malaysia Issues Tax Exemption for Foreign Sourced Income

01/12/2022

The Malaysian government has decided to provide a tax exemption on foreign-sourced income for individual taxpayers, backtracking from their earlier proposal made in the 2022 budget.

Vietnam Circulars 40 and 100: Guiding PIT and VAT Administration for Businesses and Individuals

12/22/2021

Circulars 40 and 100 provide new guidelines on tax administration for businesses and individuals.

Audit and Compliance in ASEAN: Prepare for 2022 – Latest Issue of ASEAN Briefing Magazine

12/09/2021

The latest issue of ASEAN Briefing Magazine, titled “Audit and Compliance in ASEAN: Prepare for 2022”, is out now and available as a complimentary download.

GST Treatment of Media Sales in Singapore: Changes from January 2022

11/25/2021

Singapore’s Inland Revenue Authority of Singapore (IRAS) has underlined the basis for which the supply of media sales will be subject to zero percent goods and services tax.

Business and Tax Incentives for Foreign Investors in Singapore

11/12/2021

Companies setting up in Singapore are eligible for various incentives that can help reduce their final corporate income tax rate.

New Tax Measures Impacting Businesses and Individuals in Malaysia’s Budget 2022

11/03/2021

Malaysia unveiled a variety of tax measures in its new budget that will impact businesses and individuals in 2022.

Legal & Regulatory

The Philippines Issues VAT Exemption for Exporters of Local Purchases

01/21/2022

The Philippines has issued a value-added tax (VAT) exemption for registered exporters on their local purchases of goods and services

Indonesia’s Omnibus Law: New Protection and Empowerment Measures for Small Businesses

01/14/2022

Indonesia’s GR 7/2021 looks to provide greater protection and empowerment to Indonesia’s cooperatives, micro, small, and medium-sized enterprises.

Qualifying as a Reputable Exporter and Importer in Indonesia

01/05/2022

Indonesia’s Ministry of Trade issued MoT Reg 17/2021, which sets out the criteria and advantages for qualifying as a reputable exporter and importer.

New Online Systems for Business Registration and Tax Incentive Applications in the Philippines

12/31/2021

The Philippines has issued two new online systems for business registration and tax incentive applications.

Singapore Provides Funding Package to Spur IPO Growth

12/16/2021

Singapore introduced a new funding package to support high-growth companies raising capital in the country’s public equity market.

Indonesia’s Omnibus Law: Relaxed Foreign Ownership Laws on Real Estate

11/10/2021

Indonesia has made it easier for foreigners to own real estate in the country through Government Regulation 18 of 2021.

Industries

Malaysia Imposes Licensing Requirements for Cloud Service Providers

01/18/2022

Effective from January 1, 2022, Malaysia has imposed a licensing requirement on the provision of cloud services, although it will only be enforced from April 1, 2022.

Indonesia’s Omnibus Law: New Provisions for the Shipping Sector

01/04/2022

Indonesia issued Government Regulation 31 of 2021 which amends several aspects of the country’s shipping law.

Scotland Eager to Support Offshore Wind Power Projects in Vietnam

01/03/2022

Vietnam's offshore wind power industry has significant room for growth as a scalable alternative to coal imports.

Malaysia Looking to Increase Palm Oil Exports to Bangladesh

12/29/2021

Malaysia is eager to increase palm oil exports to Bangladesh as the country seeks to increase its global market share of the industry.

Indonesia to Construct World’s Largest Green Industrial Park

12/24/2021

Indonesia will construct the world’s largest green industrial park, aiming to attract producers of high-tech and precision products.

The Completed China-Laos Railway: Bringing Opportunities for ASEAN and the Asia Pacific

12/21/2021

The completed China-Laos railway can transform Laos from a landlocked country into a land-linked hub that connects the wider region.

HR & Payroll

What are Indonesia's Latest Guidelines on International Travel?

01/14/2022

Indonesia has now allowed vaccinated travelers to enter the country. They will still have to enter quarantine.

Philippines Introduces New Economic Zone Authority Visa for Foreigners

01/11/2022

In November 2021, the Philippines Economic Zone Authority introduced a new work visa for foreigners who are sponsored to work in the Philippines by companies registered with PEZA.

Indonesia Increases Minimum Wage for 2022

12/14/2021

Indonesia has increased the average minimum wage of each province by 1.09 percent for 2022. The figure was obtained through the new guidelines on minimum wage under Government Regulation 36 of 2021 (GR 36/2021).

Cambodia Extends Deadline for Foreign Employee Quota Application

12/07/2021

Cambodia has extended the deadline for the foreign employee quota application to January 31, 2022, two months after the original deadline.

Quarantine Exemption for Vaccinated Travelers in Thailand: What You Need to Know

11/23/2021

Fully vaccinated travelers from 63 “low-risk” countries and regions can now enter Thailand without any quarantine requirements.

Proposed Amendments to Malaysia's Employment Act

11/22/2021

The proposed amendments to Malaysia's Employment Act hopes to bring the act to international standards as required by ILO and others.

Our firm Dezan Shira & Associates provides legal, tax and operational advisory across Asia.
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