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1.

MALAYSIA: Statutory Pension Fund Contribution Cut for Employees Aged 60+

16 Jan 2019

In the case of workers aged 60 or more, the minimum statutory contribution to the country’s Employees Provident Fund (EPF) has been revised....Read More

2.

PHILIPPINES: Businesses Exporting to EU Granted Right to Self-Issue Certificates of Origin

15 Jan 2019

Companies exporting from the Philippines to the European Union (EU) under the terms of the Generalised System of Preferences (GSP) programme can now self-issue the required Certificates of Origin (COO...Read More

3.

PHILIPPINES: All VAT Refunds to Be Processed and Paid Within 90 Days

14 Jan 2019

The Bureau of Internal Revenue is now obliged to process and pay all business-related VAT refunds within 90 days of any initial claim....Read More

4.

MYANMAR: Overseas Life Insurance Businesses Invited to Bid for Operating Licences

11 Jan 2019

The country’s insurance sector is now open for foreign direct investment (FDI). In line with this, the government has now formally announced its operational strategy and called for expressions of inte...Read More

5.

INDONESIA: Independent Directors No Longer a Prerequisite for Publicly-Listed Companies

10 Jan 2019

Companies are no longer required to name an independent director or commissioner in order to successfully list on the Jakarta-based Indonesia Stock Exchange (IDX)....Read More

6.

MALAYSIA: LLP Tax Registration System Goes Online

9 Jan 2019

The Inland Revenue Board of Malaysia (LHDNM) has launched an online system for the tax registration of Limited Liability Partnerships (LLP)....Read More

7.

LAOS: Online Database of Local Business Regulations Goes Live

8 Jan 2019

Investors now have instant access to an online database of all the country’s business-related laws and regulations....Read More

8.

THAILAND: Online Settlement System Introduced for Customs Liabilities

4 Jan 2019

All customs payments – including export/import levies and air cargo/port fees – can now be made via the online banking services of one of four of the country’s leading banking groups: Bangkok Bank (B...Read More

9.

VIETNAM: Regulations Relaxed to Maximise Overseas Participation in Privatisation Process

3 Jan 2019

Overseas investors are to be permitted to submit foreign currency deposits when bidding to acquire a stake in any of the country’s State-Owned Enterprises (SOEs)....Read More

10.

MALAYSIA: 20% of Overseas Workers’ Salaries to be Retained by Employers Pending Contract Completion

31 Dec 2018

Companies should hold back 20% of the basic salary payments accruing to overseas staff pending completion of their contracted employment periods, according to a new advisory notice issued by the count...Read More

11.

THAILAND: Extended Maternity Leave and Increased Severance Pay Promised for 2019

28 Dec 2018

The statutory maternity leave period is to be extended to 98 days from its current level of 90, although any time off taken for medical checks prior to delivery may be deducted from this total....Read More

12.

MYANMAR: Country’s First Official Credit Bureau Promised Within 12 Months

27 Dec 2018

The country is aiming to establish an official credit bureau over the next 9-12 months, giving local banks and financial institutions access to the financial history of potential domestic borrowers fo...Read More

13.

MYANMAR: Overseas Insurance Companies to be Offered April 2019 Operating Licences

24 Dec 2018

The Ministry of Planning and Finance is to call on overseas-owned insurance companies to bid for April 2019-commencing operating licences....Read More

14.

LAOS: Application Procedures Announced for Proof of Capital Import Certificates

20 Dec 2018

The Bank of the Lao PDR (BOL), the country’s central bank, has announced the required application procedures for a Certificate of Capital Importation (CCI), the document overseas investors are obliged...Read More

15.

CAMBODIA: Factory Inspections Set to Rise Despite Reports of Improved Working Conditions

19 Dec 2018

The country’s Labour Ministry is to step up its factory inspection programme in a bid to provide enhanced monitoring of working conditions in the garment sector....Read More

16.

MYANMAR: Overseas Banks Approved to Set Own Interest Rates for Foreign Currency Loans

14 Dec 2018

All 13 overseas-headquartered banks currently operating in the country are to be henceforward entitled to set their own interest rates when extending foreign currency loans to businesses....Read More

17.

VIETNAM: Streamlined Imports/Exports on Offer to Historically-Compliant Companies

13 Dec 2018

Businesses with a proven record of compliance with the country’s export and import regulations are to be granted access to streamlined ingress and egress procedures....Read More

18.

VIETNAM: Port Service Fees Set to be Revised as of January 2019

12 Dec 2018

The country’s port fee schedules are set to be revised as of 1 January next year....Read More

19.

THAILAND: Consumers Set for VAT Rebate in Bid to Boost Spring Festival Sales

11 Dec 2018

In a bid to boost spending over the looming Chinese New Year period, consumers will be entitled to reclaim 5% of the 7% statutory VAT paid on all purchases up to a total of Baht 20,000 (US$610)....Read More

20.

VIETNAM: 14 Stalled Hung Yen Projects Set to Lose Investment Licences

10 Dec 2018

The investment licences for 14 projects, given the go-ahead in the period 2008-2014, in the northern Hung Yen province are set to be revoked following excessive delays or failures to initiate agreed d...Read More

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