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Economy & Trade

Thailand Issues Latest US$1.3 Billion Stimulus Package

08/05/2021

Thailand issued its latest stimulus package valued at 42 billion baht (US$1.3 billion), which provides financial assistance to businesses and people.

COVID-19 Vaccine Roll Outs in ASEAN & Asia – Live Updates by Country

08/05/2021

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.

Thailand and the EU Resume Free Trade Agreement Negotiations

08/04/2021

Thailand and the European Union (EU) have agreed to resume negotiations on a free trade agreement (FTA), seven years after talks collapsed in 2014.

How US Businesses Can Access the East Asian US$25 Trillion RCEP Free Trade Market Agreement via Existing Agreements

07/30/2021

US businesses can access the RCEP free trade agreement through its existing agreements with partners in the region.

Singapore Launches Latest US$800 Million Economic Support Package

07/26/2021

On July 23, 2021, Singapore introduced its latest S$1.1 billion (US$800 million) economic support package as the country returned to Phase 2 restrictions.

ASEAN ACCESS: A New Business Information Hub for MSMEs in ASEAN

07/19/2021

On June 16, 2021, ASEAN launched ASEAN Access, a free information online portal dedicated to connecting MSMEs in the region.

Tax & Accounting

The Philippines Imposes New 12% VAT Rate on Exporters

07/31/2021

The Philippines' Revenue Regulation No. 9-2021, which introduces a 12 percent value-added tax (VAT) rate on certain sales transactions that were previously taxed at zero percent.

Cambodia Issues Ninth Round of Stimulus Measures

07/07/2021

Cambodia unveiled its ninth round of stimulus measures to support businesses andhouseholds as the country grapples with a sudden surge in COVID infections.

Vietnam Issues Guidance on Electronic Tax Payment Transactions: Circular 19

06/03/2021

Vietnam’s Ministry of Finance (MoF) has issued Circular 19/2021/TT-BTC (Circular 19) guiding regulations on electronic tax transactions.

Personal Income Tax in Vietnam: Exemptions and Reductions

05/07/2021

Vietnam’s Law on Personal Income Tax recognizes different categories of income, with a host of deductions, and tax rates, applying to each of them.

The Philippines CREATE Act Comes into Effect, Pushing for Accelerated Economic Recovery

04/16/2021

The CREATE Act is a time-bound and tailor-made set of corporate and tax reforms to counter the effects of COVID-19 on the Philippines’ economy.

Transfer Pricing in Indonesia: A Guide for Foreign Investors

04/01/2021

Indonesia endorses the arm’s length principle as the standard guide to transfer pricing.

Legal & Regulatory

Company Dissolution in Indonesia: A Guide for Foreign Investors

08/03/2021

The company dissolution process in Indonesia can be voluntary or non-voluntary. This article explores the steps that foreign investors should take when liquidating their Indonesian businesses.

Indonesia’s Omnibus Law: Individuals Now Allowed to Incorporate Companies

07/29/2021

GR 8/2021 introduces individually owned companies, a new type of company category in Indonesia that can be incorporated by a single individual.

Decree 70 to Impact Cross-Border Advertising Services in Vietnam

07/27/2021

Vietnam’s Decree 70 stipulates that advertising service providers engaging in cross-border advertising services must abide by regulations on cybersecurity, and the provision and use of internet services, as well as pay tax.

Import and Export Procedures in Indonesia – Best Practices

07/01/2021

Indonesia has made serious efforts to improve its import and export procedures as the country targets to become the fourth-largest economy by 2045.

Singapore to Increase Port Dues Rates from 2022

06/22/2021

The Maritime and Port Authority of Singapore (MPA) will implement a two-phase increase in port dues rates from January 2022.

A Step by Step Guide to Import and Export Procedures in Vietnam

06/14/2021

With foreign investors showing significant interest in Vietnam, it is important for them to clearly understand the country’s import and export procedures.

Industries

ASEAN, EU Agree to World’s First Bloc-to-Bloc Air Transport Agreement

07/15/2021

ASEAN and the EU have agreed to the world’s first bloc-to-bloc air transport agreement through the ASEAN-EU Comprehensive Air Transport Agreement.

BioNTech to Build Vaccine Manufacturing Site in Singapore

07/13/2021

Biotechnology company BioNTech will establish its Asia-Pacific regional headquarters in Singapore, where it will also establish an mRNA manufacturing facility.

Indonesia to Build Electric Vehicle Battery Plant, Production Starting in 2023

07/08/2021

Indonesia will build its first electric vehicle battery plant and aims to begin production by 2023, in a project estimated to be valued at US$9.8 billion.

Malaysia and Thailand Launch QR Payment Linkage

06/28/2021

On June 18, 2021, Malaysia and Thailand launched a cross-border quick response (QR) payment linkage to enable businesses and consumers from both countries to receive instant QR code payments.

Tokopedia and Gojek Merger Creates Indonesia’s Largest Digital Services Company

05/25/2021

Indonesia’s biggest internet companies Gojek and Tokopedia announced a US$18 billion merger in what is the country’s largest-ever business deal.

Opportunities for Australian Wine in ASEAN

05/17/2021

In 2020, Asia’s wine markets brought in US$1.7 billion for Australian wine producers and importers.

HR & Payroll

How to Prepare a Foreign Worker Utilization Plan: Hiring in Indonesia

07/23/2021

MOM Reg 8/2021 is an implementing regulation that details the requirements businesses must fulfill to hire foreign workers.

Vietnam Issues Latest Incentives for Businesses and Employees

07/21/2021

Under Resolution 68/NQ-CP the government has unveiled several financial packages to employers and employees affected by the fourth wave of COVID-19.

What are Indonesia's Latest Guidelines on International Travel?

07/06/2021

Only foreigners with work, business, or residency permits can enter Indonesia, although they will be placed in quarantine for five days.

Singapore to Increase Central Provident Fund Contributions From 2022

06/29/2021

Singapore will increase the Central Provident Fund (CPF) contribution rates for employees aged 55 to 70 years from January 1, 2022.

Indonesia’s Omnibus Law: Provisions on Minimum Wage

06/24/2021

Indonesia’s GR 36/2021 has eliminated the sectoral minimum wage while establishing a provision for hourly pay for part-time workers.

Foreign Employees and Work Permits in Vietnam: Decree 152

06/09/2021

Vietnam's Decree 152 overlooks the management of foreign workers in Vietnam as well as the hiring of Vietnamese employees that work for foreign businesses.

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