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the pandemic.
US EXTENDS GSP STATUS FOR INDONESIA The US extended Indonesia’s Generalized System of Preference (GSP) status in early November 2020, meaning thousands of exports to the USare duty free.
HOW TO SET UP A REPRESENTATIVE OFFICE IN INDONESIA Establishing a representative office is the fastest and simplest way to establish a legal entity in Indonesia. Representative offices are forbidden to earn any revenue and their activities are limited to mainly market research, developing trade contacts, MALAYSIA'S HEALTHCARE SECTOR: A RISING GIANT IN ASEANSEE MORE ONASEANBRIEFING.COM
WHY SETTING UP IN SINGAPORE MAKES SENSE FOR BUSINESS IN ASEAN Singapore has long been a preeminent destination for setting up a regional headquarters to pursue business opportunities across ASEAN and Asia.. The country’s status as a preferred investment destination in Asia can be attributed to its legal and tax regimes – one of the most business and investor-friendly in the world – as well as its financial system, which is highly integrated with SINGAPORE ALLOWS ENTRY OF TRAVELERS FROM MAINLAND CHINA The ATP allows foreigners from selected countries to enter Singapore for short-term visits. The country has already allowed entry to citizens of Brunei, Australia, Vietnam, and New Zealand as the Singaporean government acknowledged these countries to be low-risk.. Citizens and permanent resident holders who are not from the aforementioned countries can still enter Singapore – if their PHILIPPINES UNDER DUTERTE: OPPORTUNITIES AND RISKS About Grapevine Asia Partners. Grapevine Asia Partners is a boutique risk consultancy firm with strong on-the-ground presence as well as in-house intelligence analysts in China and the Philippines.. Grapevine Asia Partners offers stakeholder mapping, regulatory and policy assessments, usually stemming from tightening industry regulations, as well as strengthening enforcement of commercial INDONESIA'S NEW TAX INCENTIVES: WHAT IT MEANS FOR INVESTORSSEE MORE ONASEANBRIEFING.COM
CAMBODIA ISSUES TAX INCENTIVES FOR THE EDUCATION SECTOR On March 2, 2020, the Cambodian government issued Prakas 209, which extends the various tax incentives for education establishments. Prakas 209 provides incentives on withholding tax, value-added tax (VAT), minimum tax, and prepayment of tax on income (PTOI). BUSINESS, LEGAL, TAX, INVESTMENT, ACCOUNTING NEWS ASEAN Briefing publishes business news, resources and publications concerning foreign direct investment into ASEAN, including the most important tax, legal and economic issues in Southeast Asia. RELIGIOUS HOLIDAY ALLOWANCES IN INDONESIA STILL OBLIGATORY Indonesia’s Ministry of Manpower has reminded employers that payment of the religious holiday allowance (THR) is still obligatory despitethe pandemic.
US EXTENDS GSP STATUS FOR INDONESIA The US extended Indonesia’s Generalized System of Preference (GSP) status in early November 2020, meaning thousands of exports to the USare duty free.
HOW TO SET UP A REPRESENTATIVE OFFICE IN INDONESIA Establishing a representative office is the fastest and simplest way to establish a legal entity in Indonesia. Representative offices are forbidden to earn any revenue and their activities are limited to mainly market research, developing trade contacts, MALAYSIA'S HEALTHCARE SECTOR: A RISING GIANT IN ASEANSEE MORE ONASEANBRIEFING.COM
WHY SETTING UP IN SINGAPORE MAKES SENSE FOR BUSINESS IN ASEAN Singapore has long been a preeminent destination for setting up a regional headquarters to pursue business opportunities across ASEAN and Asia.. The country’s status as a preferred investment destination in Asia can be attributed to its legal and tax regimes – one of the most business and investor-friendly in the world – as well as its financial system, which is highly integrated with SINGAPORE ALLOWS ENTRY OF TRAVELERS FROM MAINLAND CHINA The ATP allows foreigners from selected countries to enter Singapore for short-term visits. The country has already allowed entry to citizens of Brunei, Australia, Vietnam, and New Zealand as the Singaporean government acknowledged these countries to be low-risk.. Citizens and permanent resident holders who are not from the aforementioned countries can still enter Singapore – if their PHILIPPINES UNDER DUTERTE: OPPORTUNITIES AND RISKS About Grapevine Asia Partners. Grapevine Asia Partners is a boutique risk consultancy firm with strong on-the-ground presence as well as in-house intelligence analysts in China and the Philippines.. Grapevine Asia Partners offers stakeholder mapping, regulatory and policy assessments, usually stemming from tightening industry regulations, as well as strengthening enforcement of commercial INDONESIA'S NEW TAX INCENTIVES: WHAT IT MEANS FOR INVESTORSSEE MORE ONASEANBRIEFING.COM
CAMBODIA ISSUES TAX INCENTIVES FOR THE EDUCATION SECTOR On March 2, 2020, the Cambodian government issued Prakas 209, which extends the various tax incentives for education establishments. Prakas 209 provides incentives on withholding tax, value-added tax (VAT), minimum tax, and prepayment of tax on income (PTOI). BUSINESS, LEGAL, TAX, INVESTMENT, ACCOUNTING NEWS ASEAN Briefing publishes business news, resources and publications concerning foreign direct investment into ASEAN, including the most important tax, legal and economic issues in Southeast Asia. COVID-19 VACCINE ROLL OUTS IN ASEAN & ASIA (This article will be updated continuously. It was originally published on January 28, 2020. It was last updated on June 9, 2021) Details of COVID-19 availability in MALAYSIA INTRODUCES PEMERKASA PLUS ECONOMIC STIMULUS PACKAGE Malaysia’s government has introduced its latest economic stimulus package — Pemerkasa Plus — as a response to the national lockdown measures, which were enforced from June 1, 2021. HOW CAN INDIAN BUSINESSES CAPITALIZE ON ASEAN’S E-COMMERCE ASEAN countries have been forced to accelerate their digital transformations because of the pandemic, with sectors such as e-commerce seeing a surge in users and transactions.. Having a combined population of 655 million people, of which 400 million are internet users, ASEAN’s e-commerce sector presents ample and scalable opportunities for Indian businesses looking to sell in thismarket.
SINGAPORE ALLOWS ENTRY OF TRAVELERS FROM MAINLAND CHINA The ATP allows foreigners from selected countries to enter Singapore for short-term visits. The country has already allowed entry to citizens of Brunei, Australia, Vietnam, and New Zealand as the Singaporean government acknowledged these countries to be low-risk.. Citizens and permanent resident holders who are not from the aforementioned countries can still enter Singapore – if their WHAT ARE INDONESIA'S LATEST GUIDELINES ON INTERNATIONAL Only foreigners with work, business, or residency permits can enter Indonesia, although they will be placed in quarantine for five days, and take a COVID-19 test upon arrival, at their own cost. INVESTING IN THAILAND: TAX AND NON-TAX INCENTIVES Thailand’s Board of Investment (BOI) offers a range of tax and non-tax incentives to foreign companies making investments that are deemed highly beneficial to the Thai economy. AUDIT AND COMPLIANCE IN VIETNAM: A GUIDE FOR FOREIGN INVESTORS Investors should also seek the advice of registered local advisors to ensure that all aspects of reporting are in compliance with prevailing laws and regulations.. Fiscal periods. FOEs can choose from four fiscal periods with the 12-month period beginning in the first day ofeach quarter:
NATIONALITY AND RESIDENCE REQUIREMENTS FOR DIRECTORS About Us. Asia Briefing Ltd. is a subsidiary of Dezan Shira & Associates.Dezan Shira is a specialist foreign direct investment practice, providing corporate establishment, business advisory, tax advisory and compliance, accounting, payroll, due diligence and financial review services to multinationals investing in China, Hong Kong, India, Vietnam, Singapore and the rest of ASEAN. INDONESIA ISSUES NEW REGULATION ON INVESTMENT ACTIVITY REPORTS Indonesia’s Investment Coordinating Board (BKPM) issued regulation (BKPM Reg 6/2020), which pertains to the submission of investment activity reports (LKPM) by foreign companies.; Certain foreign companies are obligated to submit an LKPM report to the BKPM, which highlights the achievements and constraints experienced by foreign investors in Indonesia. BUSINESS, LEGAL, TAX, INVESTMENT, ACCOUNTING NEWS ASEAN Briefing publishes business news, resources and publications concerning foreign direct investment into ASEAN, including the most important tax, legal and economic issues in Southeast Asia. RELIGIOUS HOLIDAY ALLOWANCES IN INDONESIA STILL OBLIGATORY Indonesia’s Ministry of Manpower has reminded employers that payment of the religious holiday allowance (THR) is still obligatory despitethe pandemic.
US EXTENDS GSP STATUS FOR INDONESIA The US extended Indonesia’s Generalized System of Preference (GSP) status in early November 2020, meaning thousands of exports to the USare duty free.
HOW TO SET UP A REPRESENTATIVE OFFICE IN INDONESIA Establishing a representative office is the fastest and simplest way to establish a legal entity in Indonesia. Representative offices are forbidden to earn any revenue and their activities are limited to mainly market research, developing trade contacts, MALAYSIA'S HEALTHCARE SECTOR: A RISING GIANT IN ASEANSEE MORE ONASEANBRIEFING.COM
WHY SETTING UP IN SINGAPORE MAKES SENSE FOR BUSINESS IN ASEAN Singapore has long been a preeminent destination for setting up a regional headquarters to pursue business opportunities across ASEAN and Asia.. The country’s status as a preferred investment destination in Asia can be attributed to its legal and tax regimes – one of the most business and investor-friendly in the world – as well as its financial system, which is highly integrated with SINGAPORE ALLOWS ENTRY OF TRAVELERS FROM MAINLAND CHINA The ATP allows foreigners from selected countries to enter Singapore for short-term visits. The country has already allowed entry to citizens of Brunei, Australia, Vietnam, and New Zealand as the Singaporean government acknowledged these countries to be low-risk.. Citizens and permanent resident holders who are not from the aforementioned countries can still enter Singapore – if their PHILIPPINES UNDER DUTERTE: OPPORTUNITIES AND RISKS About Grapevine Asia Partners. Grapevine Asia Partners is a boutique risk consultancy firm with strong on-the-ground presence as well as in-house intelligence analysts in China and the Philippines.. Grapevine Asia Partners offers stakeholder mapping, regulatory and policy assessments, usually stemming from tightening industry regulations, as well as strengthening enforcement of commercial INDONESIA'S NEW TAX INCENTIVES: WHAT IT MEANS FOR INVESTORSSEE MORE ONASEANBRIEFING.COM
CAMBODIA ISSUES TAX INCENTIVES FOR THE EDUCATION SECTOR On March 2, 2020, the Cambodian government issued Prakas 209, which extends the various tax incentives for education establishments. Prakas 209 provides incentives on withholding tax, value-added tax (VAT), minimum tax, and prepayment of tax on income (PTOI). BUSINESS, LEGAL, TAX, INVESTMENT, ACCOUNTING NEWS ASEAN Briefing publishes business news, resources and publications concerning foreign direct investment into ASEAN, including the most important tax, legal and economic issues in Southeast Asia. RELIGIOUS HOLIDAY ALLOWANCES IN INDONESIA STILL OBLIGATORY Indonesia’s Ministry of Manpower has reminded employers that payment of the religious holiday allowance (THR) is still obligatory despitethe pandemic.
US EXTENDS GSP STATUS FOR INDONESIA The US extended Indonesia’s Generalized System of Preference (GSP) status in early November 2020, meaning thousands of exports to the USare duty free.
HOW TO SET UP A REPRESENTATIVE OFFICE IN INDONESIA Establishing a representative office is the fastest and simplest way to establish a legal entity in Indonesia. Representative offices are forbidden to earn any revenue and their activities are limited to mainly market research, developing trade contacts, MALAYSIA'S HEALTHCARE SECTOR: A RISING GIANT IN ASEANSEE MORE ONASEANBRIEFING.COM
WHY SETTING UP IN SINGAPORE MAKES SENSE FOR BUSINESS IN ASEAN Singapore has long been a preeminent destination for setting up a regional headquarters to pursue business opportunities across ASEAN and Asia.. The country’s status as a preferred investment destination in Asia can be attributed to its legal and tax regimes – one of the most business and investor-friendly in the world – as well as its financial system, which is highly integrated with SINGAPORE ALLOWS ENTRY OF TRAVELERS FROM MAINLAND CHINA The ATP allows foreigners from selected countries to enter Singapore for short-term visits. The country has already allowed entry to citizens of Brunei, Australia, Vietnam, and New Zealand as the Singaporean government acknowledged these countries to be low-risk.. Citizens and permanent resident holders who are not from the aforementioned countries can still enter Singapore – if their PHILIPPINES UNDER DUTERTE: OPPORTUNITIES AND RISKS About Grapevine Asia Partners. Grapevine Asia Partners is a boutique risk consultancy firm with strong on-the-ground presence as well as in-house intelligence analysts in China and the Philippines.. Grapevine Asia Partners offers stakeholder mapping, regulatory and policy assessments, usually stemming from tightening industry regulations, as well as strengthening enforcement of commercial INDONESIA'S NEW TAX INCENTIVES: WHAT IT MEANS FOR INVESTORSSEE MORE ONASEANBRIEFING.COM
CAMBODIA ISSUES TAX INCENTIVES FOR THE EDUCATION SECTOR On March 2, 2020, the Cambodian government issued Prakas 209, which extends the various tax incentives for education establishments. Prakas 209 provides incentives on withholding tax, value-added tax (VAT), minimum tax, and prepayment of tax on income (PTOI). BUSINESS, LEGAL, TAX, INVESTMENT, ACCOUNTING NEWS ASEAN Briefing publishes business news, resources and publications concerning foreign direct investment into ASEAN, including the most important tax, legal and economic issues in Southeast Asia. COVID-19 VACCINE ROLL OUTS IN ASEAN & ASIA (This article will be updated continuously. It was originally published on January 28, 2020. It was last updated on June 9, 2021) Details of COVID-19 availability in MALAYSIA INTRODUCES PEMERKASA PLUS ECONOMIC STIMULUS PACKAGE Malaysia’s government has introduced its latest economic stimulus package — Pemerkasa Plus — as a response to the national lockdown measures, which were enforced from June 1, 2021. HOW CAN INDIAN BUSINESSES CAPITALIZE ON ASEAN’S E-COMMERCE ASEAN countries have been forced to accelerate their digital transformations because of the pandemic, with sectors such as e-commerce seeing a surge in users and transactions.. Having a combined population of 655 million people, of which 400 million are internet users, ASEAN’s e-commerce sector presents ample and scalable opportunities for Indian businesses looking to sell in thismarket.
SINGAPORE ALLOWS ENTRY OF TRAVELERS FROM MAINLAND CHINA The ATP allows foreigners from selected countries to enter Singapore for short-term visits. The country has already allowed entry to citizens of Brunei, Australia, Vietnam, and New Zealand as the Singaporean government acknowledged these countries to be low-risk.. Citizens and permanent resident holders who are not from the aforementioned countries can still enter Singapore – if their WHAT ARE INDONESIA'S LATEST GUIDELINES ON INTERNATIONAL Only foreigners with work, business, or residency permits can enter Indonesia, although they will be placed in quarantine for five days, and take a COVID-19 test upon arrival, at their own cost. INVESTING IN THAILAND: TAX AND NON-TAX INCENTIVES Thailand’s Board of Investment (BOI) offers a range of tax and non-tax incentives to foreign companies making investments that are deemed highly beneficial to the Thai economy. AUDIT AND COMPLIANCE IN VIETNAM: A GUIDE FOR FOREIGN INVESTORS Investors should also seek the advice of registered local advisors to ensure that all aspects of reporting are in compliance with prevailing laws and regulations.. Fiscal periods. FOEs can choose from four fiscal periods with the 12-month period beginning in the first day ofeach quarter:
NATIONALITY AND RESIDENCE REQUIREMENTS FOR DIRECTORS About Us. Asia Briefing Ltd. is a subsidiary of Dezan Shira & Associates.Dezan Shira is a specialist foreign direct investment practice, providing corporate establishment, business advisory, tax advisory and compliance, accounting, payroll, due diligence and financial review services to multinationals investing in China, Hong Kong, India, Vietnam, Singapore and the rest of ASEAN. INDONESIA ISSUES NEW REGULATION ON INVESTMENT ACTIVITY REPORTS Indonesia’s Investment Coordinating Board (BKPM) issued regulation (BKPM Reg 6/2020), which pertains to the submission of investment activity reports (LKPM) by foreign companies.; Certain foreign companies are obligated to submit an LKPM report to the BKPM, which highlights the achievements and constraints experienced by foreign investors in Indonesia. BUSINESS, LEGAL, TAX, INVESTMENT, ACCOUNTING NEWS ASEAN Briefing publishes business news, resources and publications concerning foreign direct investment into ASEAN, including the most important tax, legal and economic issues in Southeast Asia. RELIGIOUS HOLIDAY ALLOWANCES IN INDONESIA STILL OBLIGATORY Indonesia’s Ministry of Manpower has reminded employers that payment of the religious holiday allowance (THR) is still obligatory despitethe pandemic.
HOW TO SET UP A REPRESENTATIVE OFFICE IN INDONESIA Opening a representative office (RO) is the fastest and simplest way of establishing a legal entity in Indonesia. This set up is a temporary arrangement as ROs are not allowed to engage in any commercial activities, issue invoices, sign contracts, or earn any revenue. Foreign investors, however, can own 100 percent of thisbusiness entity and
GST CHANGES IN SINGAPORE FOR 2021: HOW SHOULD BUSINESSES Businesses should expect an increase to nine percent between 2022 and 2025. Low-value goods bought online and imported by air or post will now be liable for GST from January 2023. The Singapore government has delayed the increase of the goods and sales tax (GST) rate to after 2021 and thus will remain at the current seven percent rate. The rate SINGAPORE ALLOWS ENTRY OF TRAVELERS FROM MAINLAND CHINA Singapore Allows Entry of Travelers from Mainland China. Singapore began allowing short-term visitors from mainland China on November 6, 2020, through its Air Travel Pass (ATP) program. The program is open only to low-risk COVID-19 countries with Brunei, Australia, Vietnam, and New Zealand having already joined. WHY SETTING UP IN SINGAPORE MAKES SENSE FOR BUSINESS IN ASEAN Singapore has long been a preeminent destination for setting up a regional headquarters to pursue business opportunities across ASEAN and Asia.. The country’s status as a preferred investment destination in Asia can be attributed to its legal and tax regimes – one of the most business and investor-friendly in the world – as well as its financial system, which is highly integrated with CAMBODIA ISSUES TAX INCENTIVES FOR THE EDUCATION SECTOR Cambodia Issues Tax Incentives for the Education Sector. On March 2, 2020, the Cambodian government issued Prakas 209, which extends the various tax incentives for education establishments. Prakas 209 provides incentives on withholding tax, value-added tax (VAT), minimum tax, and prepayment of tax on income (PTOI). MALAYSIA'S HEALTHCARE SECTOR: A RISING GIANT IN ASEANSEE MORE ONASEANBRIEFING.COM
PHILIPPINES UNDER DUTERTE: OPPORTUNITIES AND RISKS About Grapevine Asia Partners. Grapevine Asia Partners is a boutique risk consultancy firm with strong on-the-ground presence as well as in-house intelligence analysts in China and the Philippines.. Grapevine Asia Partners offers stakeholder mapping, regulatory and policy assessments, usually stemming from tightening industry regulations, as well as strengthening enforcement of commercial INDONESIA'S NEW TAX INCENTIVES: WHAT IT MEANS FOR INVESTORSSEE MORE ONASEANBRIEFING.COM
BUSINESS, LEGAL, TAX, INVESTMENT, ACCOUNTING NEWS ASEAN Briefing publishes business news, resources and publications concerning foreign direct investment into ASEAN, including the most important tax, legal and economic issues in Southeast Asia. RELIGIOUS HOLIDAY ALLOWANCES IN INDONESIA STILL OBLIGATORY Indonesia’s Ministry of Manpower has reminded employers that payment of the religious holiday allowance (THR) is still obligatory despitethe pandemic.
HOW TO SET UP A REPRESENTATIVE OFFICE IN INDONESIA Opening a representative office (RO) is the fastest and simplest way of establishing a legal entity in Indonesia. This set up is a temporary arrangement as ROs are not allowed to engage in any commercial activities, issue invoices, sign contracts, or earn any revenue. Foreign investors, however, can own 100 percent of thisbusiness entity and
GST CHANGES IN SINGAPORE FOR 2021: HOW SHOULD BUSINESSES Businesses should expect an increase to nine percent between 2022 and 2025. Low-value goods bought online and imported by air or post will now be liable for GST from January 2023. The Singapore government has delayed the increase of the goods and sales tax (GST) rate to after 2021 and thus will remain at the current seven percent rate. The rate SINGAPORE ALLOWS ENTRY OF TRAVELERS FROM MAINLAND CHINA Singapore Allows Entry of Travelers from Mainland China. Singapore began allowing short-term visitors from mainland China on November 6, 2020, through its Air Travel Pass (ATP) program. The program is open only to low-risk COVID-19 countries with Brunei, Australia, Vietnam, and New Zealand having already joined. WHY SETTING UP IN SINGAPORE MAKES SENSE FOR BUSINESS IN ASEAN Singapore has long been a preeminent destination for setting up a regional headquarters to pursue business opportunities across ASEAN and Asia.. The country’s status as a preferred investment destination in Asia can be attributed to its legal and tax regimes – one of the most business and investor-friendly in the world – as well as its financial system, which is highly integrated with CAMBODIA ISSUES TAX INCENTIVES FOR THE EDUCATION SECTOR Cambodia Issues Tax Incentives for the Education Sector. On March 2, 2020, the Cambodian government issued Prakas 209, which extends the various tax incentives for education establishments. Prakas 209 provides incentives on withholding tax, value-added tax (VAT), minimum tax, and prepayment of tax on income (PTOI). MALAYSIA'S HEALTHCARE SECTOR: A RISING GIANT IN ASEANSEE MORE ONASEANBRIEFING.COM
PHILIPPINES UNDER DUTERTE: OPPORTUNITIES AND RISKS About Grapevine Asia Partners. Grapevine Asia Partners is a boutique risk consultancy firm with strong on-the-ground presence as well as in-house intelligence analysts in China and the Philippines.. Grapevine Asia Partners offers stakeholder mapping, regulatory and policy assessments, usually stemming from tightening industry regulations, as well as strengthening enforcement of commercial INDONESIA'S NEW TAX INCENTIVES: WHAT IT MEANS FOR INVESTORSSEE MORE ONASEANBRIEFING.COM
COVID-19 VACCINE ROLL OUTS IN ASEAN & ASIA Mongolia is in discussions with Astra-Zeneca to purchase COVID-19 vaccines and is also part of the Covax scheme. Roll out is expected in Q2 2021. Mongolia has 53,100 cases and 253 deaths as of May 24. As of May 23, Mongolia has 52,470 cases and 248 deaths. Mongolia has 51,931 cases and 244 deaths as MALAYSIA INTRODUCES PEMERKASA PLUS ECONOMIC STIMULUS PACKAGE Malaysia’s government has introduced its latest economic stimulus package — Pemerkasa Plus — as a response to the national lockdown measures, which were enforced from June 1, 2021. SINGAPORE ALLOWS ENTRY OF TRAVELERS FROM MAINLAND CHINA Singapore Allows Entry of Travelers from Mainland China. Singapore began allowing short-term visitors from mainland China on November 6, 2020, through its Air Travel Pass (ATP) program. The program is open only to low-risk COVID-19 countries with Brunei, Australia, Vietnam, and New Zealand having already joined. WHAT ARE INDONESIA'S LATEST GUIDELINES ON INTERNATIONAL What are Indonesia’s Latest Guidelines on International Travel? Only foreigners with work, business, or residency permits can enter Indonesia, although they will be placed in quarantine for five days, and take a COVID-19 test upon arrival, at their own cost. Indonesian citizens can return but also have to undergo quarantine for five daysand
WHY SETTING UP IN SINGAPORE MAKES SENSE FOR BUSINESS IN ASEAN Singapore has long been a preeminent destination for setting up a regional headquarters to pursue business opportunities across ASEAN and Asia.. The country’s status as a preferred investment destination in Asia can be attributed to its legal and tax regimes – one of the most business and investor-friendly in the world – as well as its financial system, which is highly integrated with INDONESIA ISSUES NEW REGULATION ON INVESTMENT ACTIVITY REPORTS Indonesia’s Investment Coordinating Board (BKPM) issued BKPM Regulation No. 6 of 2020 ( BKPM Reg 6/2020 ), which provides the guidelines on the mechanisms and obligations for foreign businesses to submit their investment activity report (LKPM) to the BKPM. An LKPM investment activity report is a report compiled by a foreign company INDONESIA'S NEW TAX INCENTIVES: WHAT IT MEANS FOR INVESTORS Indonesia’s New Tax Incentives: What it Means for Investors. In June 2019, the Indonesian government issued GR 45/2019, which sets out a series of tax incentives for businesses that invest in labor intensive industries, training programs, as well as research and development (R&D). GR 45/2019 also amends GR 94/2010 to expand the criteria for AUDIT AND COMPLIANCE IN INDONESIA: A GUIDE FOR FOREIGN Audit and Compliance in Indonesia: A Guide for Foreign Investors. Foreign investors should understand the Company Law, which sets outs the requirements for audit compliance and preparing financial statements. Other important and relevant laws are the Investment Law and Capital Markets Law. If a company’s fiscal year differs from thecalendar
NATIONALITY AND RESIDENCE REQUIREMENTS FOR DIRECTORS About Us. Asia Briefing Ltd. is a subsidiary of Dezan Shira & Associates.Dezan Shira is a specialist foreign direct investment practice, providing corporate establishment, business advisory, tax advisory and compliance, accounting, payroll, due diligence and financial review services to multinationals investing in China, Hong Kong, India, Vietnam, Singapore and the rest of ASEAN. AUDIT AND COMPLIANCE IN VIETNAM: A GUIDE FOR FOREIGN INVESTORS Audit and Compliance in Vietnam: A Guide for Foreign Investors. Foreign-owned enterprises (FOEs) and representative offices (ROs) are obligated to have their annual statements audited. Investors should be aware that FOEs and ROs have a different audit and compliance requirements. The government aims to replace the Vietnamese Accounting BUSINESS, LEGAL, TAX, INVESTMENT, ACCOUNTING NEWS ASEAN Briefing publishes business news, resources and publications concerning foreign direct investment into ASEAN, including the most important tax, legal and economic issues in Southeast Asia. COVID-19 VACCINE ROLL OUTS IN ASEAN & ASIA Mongolia is in discussions with Astra-Zeneca to purchase COVID-19 vaccines and is also part of the Covax scheme. Roll out is expected in Q2 2021. Mongolia has 53,100 cases and 253 deaths as of May 24. As of May 23, Mongolia has 52,470 cases and 248 deaths. Mongolia has 51,931 cases and 244 deaths as of May 22. THE INDONESIA-SINGAPORE BILATERAL INVESTMENT TREATY COMESSEE MORE ONASEANBRIEFING.COM
INDONESIA’S OMNIBUS LAW: THE POSITIVE INVESTMENT LIST ANDSEE MORE ONASEANBRIEFING.COM
RELIGIOUS HOLIDAY ALLOWANCES IN INDONESIA STILL OBLIGATORY Indonesia’s Ministry of Manpower has reminded employers that payment of the religious holiday allowance (THR) is still obligatory despitethe pandemic.
WHAT ARE INDONESIA'S LATEST GUIDELINES ON INTERNATIONAL What are Indonesia’s Latest Guidelines on International Travel? Only foreigners with work, business, or residency permits can enter Indonesia, although they will be placed in quarantine for five days, and take a COVID-19 test upon arrival, at their own cost. Indonesian citizens can return but also have to undergo quarantine for five daysand
UK AND THAILAND TO COOPERATE IN NEW ERA OF SMART CITY According to Brian Davidson, the UK Ambassador to Thailand, “I hope the launch of the Smart City Handbook and the on-ground expertise as part of the Digital Trade Network will provide the foundations for future cooperation, sharing of experience and expertise between the UK and Thailand in areas of smart city development.” INDONESIA INCREASES SOCIAL SECURITY PREMIUM FOR 2020 Indonesia’s social security programs are run by two organizations – the Social Security Administrator for Health (BPJS Kesehatan) for healthcare and the Workers Social Security (BPJS Ketenagakerjaan) forpensions.
CHANGES TO SOCIAL SECURITY RATES IN INDONESIA FOR 2021 Indonesia has implemented new social security rates for 2021, which will impact the health and pension premiums. The government has increased the premium for Class III healthcare facilities for non-employees from 25,500 rupiah (US$1.74) to 35,000 rupiah (US$2.39) in addition to reducing the maximum wage base for pensions from8,939,700 rupiah
INDIVIDUAL INCOME TAX AMENDMENTS IN MALAYSIA FOR 2021 Individual Income Tax Amendments in Malaysia for 2021. Malaysia’s government has introduced several income tax amendments that will impact individual taxpayers for 2021. The individual income tax has been reduced from 14 to 13 percent for resident taxpayers in the 50,000 ringgit (US$12,375) to 70,000 ringgit band (US$17,325). BUSINESS, LEGAL, TAX, INVESTMENT, ACCOUNTING NEWS ASEAN Briefing publishes business news, resources and publications concerning foreign direct investment into ASEAN, including the most important tax, legal and economic issues in Southeast Asia. COVID-19 VACCINE ROLL OUTS IN ASEAN & ASIA Mongolia is in discussions with Astra-Zeneca to purchase COVID-19 vaccines and is also part of the Covax scheme. Roll out is expected in Q2 2021. Mongolia has 53,100 cases and 253 deaths as of May 24. As of May 23, Mongolia has 52,470 cases and 248 deaths. Mongolia has 51,931 cases and 244 deaths as of May 22. THE INDONESIA-SINGAPORE BILATERAL INVESTMENT TREATY COMESSEE MORE ONASEANBRIEFING.COM
INDONESIA’S OMNIBUS LAW: THE POSITIVE INVESTMENT LIST ANDSEE MORE ONASEANBRIEFING.COM
RELIGIOUS HOLIDAY ALLOWANCES IN INDONESIA STILL OBLIGATORY Indonesia’s Ministry of Manpower has reminded employers that payment of the religious holiday allowance (THR) is still obligatory despitethe pandemic.
WHAT ARE INDONESIA'S LATEST GUIDELINES ON INTERNATIONAL What are Indonesia’s Latest Guidelines on International Travel? Only foreigners with work, business, or residency permits can enter Indonesia, although they will be placed in quarantine for five days, and take a COVID-19 test upon arrival, at their own cost. Indonesian citizens can return but also have to undergo quarantine for five daysand
UK AND THAILAND TO COOPERATE IN NEW ERA OF SMART CITY According to Brian Davidson, the UK Ambassador to Thailand, “I hope the launch of the Smart City Handbook and the on-ground expertise as part of the Digital Trade Network will provide the foundations for future cooperation, sharing of experience and expertise between the UK and Thailand in areas of smart city development.” INDONESIA INCREASES SOCIAL SECURITY PREMIUM FOR 2020 Indonesia’s social security programs are run by two organizations – the Social Security Administrator for Health (BPJS Kesehatan) for healthcare and the Workers Social Security (BPJS Ketenagakerjaan) forpensions.
CHANGES TO SOCIAL SECURITY RATES IN INDONESIA FOR 2021 Indonesia has implemented new social security rates for 2021, which will impact the health and pension premiums. The government has increased the premium for Class III healthcare facilities for non-employees from 25,500 rupiah (US$1.74) to 35,000 rupiah (US$2.39) in addition to reducing the maximum wage base for pensions from8,939,700 rupiah
INDIVIDUAL INCOME TAX AMENDMENTS IN MALAYSIA FOR 2021 Individual Income Tax Amendments in Malaysia for 2021. Malaysia’s government has introduced several income tax amendments that will impact individual taxpayers for 2021. The individual income tax has been reduced from 14 to 13 percent for resident taxpayers in the 50,000 ringgit (US$12,375) to 70,000 ringgit band (US$17,325). COVID-19 VACCINE ROLL OUTS IN ASEAN & ASIA Mongolia is in discussions with Astra-Zeneca to purchase COVID-19 vaccines and is also part of the Covax scheme. Roll out is expected in Q2 2021. Mongolia has 53,100 cases and 253 deaths as of May 24. As of May 23, Mongolia has 52,470 cases and 248 deaths. Mongolia has 51,931 cases and 244 deaths as MALAYSIA INTRODUCES PEMERKASA PLUS ECONOMIC STIMULUS PACKAGE Malaysia’s government has introduced its latest economic stimulus package — Pemerkasa Plus — as a response to the national lockdown measures, which were enforced from June 1, 2021. HOW CAN INDIAN BUSINESSES CAPITALIZE ON ASEAN’S E-COMMERCE ASEAN countries have been forced to accelerate their digital transformations because of the pandemic, with sectors such as e-commerce seeing a surge in users and transactions.. Having a combined population of 655 million people, of which 400 million are internet users, ASEAN’s e-commerce sector presents ample and scalable opportunities for Indian businesses looking to sell in thismarket.
VIETNAM ENCOURAGING MORE SINGAPOREAN INVESTMENTS IN DA NANG Vietnam is eager to encourage more Singapore investments into Da Nang city, as its Vice-Chairman highlighted the city’s growth plans at an online seminar organized by the Singapore Business Federation (SBF) and the Asia Competitiveness Institute (ACI)-Lee REOPENING OF THE MALAYSIA-SINGAPORE BORDER: STRICT HEALTH Reopening of the Malaysia-Singapore Border: Strict Health Protocols to Impact Travelers. Malaysia and Singapore have suspended the green lane for travel due to Malaysia’s rising COVID-19 cases. From May 17, however, the visitors from both countries who can cross the border for compassionate reasons, such as death visits or visiting family SINGAPORE ALLOWS ENTRY OF TRAVELERS FROM MAINLAND CHINA Singapore Allows Entry of Travelers from Mainland China. Singapore began allowing short-term visitors from mainland China on November 6, 2020, through its Air Travel Pass (ATP) program. The program is open only to low-risk COVID-19 countries with Brunei, Australia, Vietnam, and New Zealand having already joined. THE RCEP: IMPACTING ASEAN’S SUPPLY CHAINS AND BUSINESS The RCEP: Impacting ASEAN’s Supply Chains and Business Environment. The Regional Comprehensive Economic Partnership (RCEP) is set to be formally signed in 2020. The free trade agreement could impact ASEAN through the lowering of trade barriers and the expansion of market access for goods and services. Analysts have noted that the agreement INDIVIDUAL INCOME TAX AMENDMENTS IN MALAYSIA FOR 2021 Individual Income Tax Amendments in Malaysia for 2021. Malaysia’s government has introduced several income tax amendments that will impact individual taxpayers for 2021. The individual income tax has been reduced from 14 to 13 percent for resident taxpayers in the 50,000 ringgit (US$12,375) to 70,000 ringgit band (US$17,325). UK AND THAILAND TO COOPERATE IN NEW ERA OF SMART CITY According to Brian Davidson, the UK Ambassador to Thailand, “I hope the launch of the Smart City Handbook and the on-ground expertise as part of the Digital Trade Network will provide the foundations for future cooperation, sharing of experience and expertise between the UK and Thailand in areas of smart city development.” THE MINIMUM WAGE IN INDONESIA: INCREASED BY 8.5% FOR 2020 The Minimum Wage in Indonesia: Increased by 8.5% for 2020. By January 2020, Indonesia will increase its minimum wage by 8.51 percent from the current 2019 rate. As the minimum wage differs for every province, foreign investors should seek help from registered local advisors. On October 15, 2019, the Minister of Labor issued circular B-M 308 BUSINESS, LEGAL, TAX, INVESTMENT, ACCOUNTING NEWS ASEAN Briefing publishes business news, resources and publications concerning foreign direct investment into ASEAN, including the most important tax, legal and economic issues in Southeast Asia. COVID-19 VACCINE ROLL OUTS IN ASEAN & ASIA Mongolia is in discussions with Astra-Zeneca to purchase COVID-19 vaccines and is also part of the Covax scheme. Roll out is expected in Q2 2021. Mongolia has 53,100 cases and 253 deaths as of May 24. As of May 23, Mongolia has 52,470 cases and 248 deaths. Mongolia has 51,931 cases and 244 deaths as of May 22. US EXTENDS GSP STATUS FOR INDONESIA US Extends GSP Status for Indonesia. The US extended Indonesia’s Generalized System of Preference (GSP) status in early November 2020, meaning thousands of Indonesian exports to the US are duty-free. The US is seeking closer ties with Indonesia, particularly as tensions increase in the South China Sea. Indonesia exported more than US$2 RELIGIOUS HOLIDAY ALLOWANCES IN INDONESIA STILL OBLIGATORY Indonesia’s Ministry of Manpower has reminded employers that payment of the religious holiday allowance (THR) is still obligatory despitethe pandemic.
INDONESIA’S OMNIBUS LAW: THE POSITIVE INVESTMENT LIST ANDSEE MORE ONASEANBRIEFING.COM
THE INDONESIA-SINGAPORE BILATERAL INVESTMENT TREATY COMESSEE MORE ONASEANBRIEFING.COM
UK AND THAILAND TO COOPERATE IN NEW ERA OF SMART CITY According to Brian Davidson, the UK Ambassador to Thailand, “I hope the launch of the Smart City Handbook and the on-ground expertise as part of the Digital Trade Network will provide the foundations for future cooperation, sharing of experience and expertise between the UK and Thailand in areas of smart city development.” CHANGES TO SOCIAL SECURITY RATES IN INDONESIA FOR 2021 Indonesia has implemented new social security rates for 2021, which will impact the health and pension premiums. The government has increased the premium for Class III healthcare facilities for non-employees from 25,500 rupiah (US$1.74) to 35,000 rupiah (US$2.39) in addition to reducing the maximum wage base for pensions from8,939,700 rupiah
CAMBODIA ISSUES TAX INCENTIVES FOR THE EDUCATION SECTOR Cambodia Issues Tax Incentives for the Education Sector. On March 2, 2020, the Cambodian government issued Prakas 209, which extends the various tax incentives for education establishments. Prakas 209 provides incentives on withholding tax, value-added tax (VAT), minimum tax, and prepayment of tax on income (PTOI). INDONESIA INCREASES SOCIAL SECURITY PREMIUM FOR 2020 Indonesia’s social security programs are run by two organizations – the Social Security Administrator for Health (BPJS Kesehatan) for healthcare and the Workers Social Security (BPJS Ketenagakerjaan) forpensions.
BUSINESS, LEGAL, TAX, INVESTMENT, ACCOUNTING NEWS ASEAN Briefing publishes business news, resources and publications concerning foreign direct investment into ASEAN, including the most important tax, legal and economic issues in Southeast Asia. COVID-19 VACCINE ROLL OUTS IN ASEAN & ASIA Mongolia is in discussions with Astra-Zeneca to purchase COVID-19 vaccines and is also part of the Covax scheme. Roll out is expected in Q2 2021. Mongolia has 53,100 cases and 253 deaths as of May 24. As of May 23, Mongolia has 52,470 cases and 248 deaths. Mongolia has 51,931 cases and 244 deaths as of May 22. US EXTENDS GSP STATUS FOR INDONESIA US Extends GSP Status for Indonesia. The US extended Indonesia’s Generalized System of Preference (GSP) status in early November 2020, meaning thousands of Indonesian exports to the US are duty-free. The US is seeking closer ties with Indonesia, particularly as tensions increase in the South China Sea. Indonesia exported more than US$2 THE INDONESIA-SINGAPORE BILATERAL INVESTMENT TREATY COMESSEE MORE ONASEANBRIEFING.COM
INDONESIA’S OMNIBUS LAW: THE POSITIVE INVESTMENT LIST ANDSEE MORE ONASEANBRIEFING.COM
RELIGIOUS HOLIDAY ALLOWANCES IN INDONESIA STILL OBLIGATORY Indonesia’s Ministry of Manpower has reminded employers that payment of the religious holiday allowance (THR) is still obligatory despitethe pandemic.
UK AND THAILAND TO COOPERATE IN NEW ERA OF SMART CITY According to Brian Davidson, the UK Ambassador to Thailand, “I hope the launch of the Smart City Handbook and the on-ground expertise as part of the Digital Trade Network will provide the foundations for future cooperation, sharing of experience and expertise between the UK and Thailand in areas of smart city development.” CHANGES TO SOCIAL SECURITY RATES IN INDONESIA FOR 2021 Indonesia has implemented new social security rates for 2021, which will impact the health and pension premiums. The government has increased the premium for Class III healthcare facilities for non-employees from 25,500 rupiah (US$1.74) to 35,000 rupiah (US$2.39) in addition to reducing the maximum wage base for pensions from8,939,700 rupiah
CAMBODIA ISSUES TAX INCENTIVES FOR THE EDUCATION SECTOR Cambodia Issues Tax Incentives for the Education Sector. On March 2, 2020, the Cambodian government issued Prakas 209, which extends the various tax incentives for education establishments. Prakas 209 provides incentives on withholding tax, value-added tax (VAT), minimum tax, and prepayment of tax on income (PTOI). INDONESIA INCREASES SOCIAL SECURITY PREMIUM FOR 2020 Indonesia’s social security programs are run by two organizations – the Social Security Administrator for Health (BPJS Kesehatan) for healthcare and the Workers Social Security (BPJS Ketenagakerjaan) forpensions.
COVID-19 VACCINE ROLL OUTS IN ASEAN & ASIA Mongolia is in discussions with Astra-Zeneca to purchase COVID-19 vaccines and is also part of the Covax scheme. Roll out is expected in Q2 2021. Mongolia has 53,100 cases and 253 deaths as of May 24. As of May 23, Mongolia has 52,470 cases and 248 deaths. Mongolia has 51,931 cases and 244 deaths as MALAYSIA INTRODUCES PEMERKASA PLUS ECONOMIC STIMULUS PACKAGE Malaysia’s government has introduced its latest economic stimulus package — Pemerkasa Plus — as a response to the national lockdown measures, which were enforced from June 1, 2021. HOW CAN INDIAN BUSINESSES CAPITALIZE ON ASEAN’S E-COMMERCE ASEAN countries have been forced to accelerate their digital transformations because of the pandemic, with sectors such as e-commerce seeing a surge in users and transactions.. Having a combined population of 655 million people, of which 400 million are internet users, ASEAN’s e-commerce sector presents ample and scalable opportunities for Indian businesses looking to sell in thismarket.
INDONESIA’S OMNIBUS LAW: SIGNIFICANT CHANGES FOR CONTRACT Indonesia’s Omnibus Law: Significant Changes for Contract Workers. Indonesia’s GR 35/2021 stipulates significant changes to fixed-term employment contracts, outsourcing, hours of work, and the termination of employment procedure. The regulation also obligates employers to pay compensation to employees if their fixed-term contracts are being THE MINIMUM WAGE IN INDONESIA: INCREASED BY 8.5% FOR 2020 The Minimum Wage in Indonesia: Increased by 8.5% for 2020. By January 2020, Indonesia will increase its minimum wage by 8.51 percent from the current 2019 rate. As the minimum wage differs for every province, foreign investors should seek help from registered local advisors. On October 15, 2019, the Minister of Labor issued circular B-M 308 SINGAPORE'S MINISTRY OF MANPOWER REVISES RULES ON HIRING On March 3, 2020, Singapore’s Ministry of Manpower announced new rules on the hiring of foreign employees. These were enacted May 1, 2020. Under the new rules, the government has increased the minimum qualifying salary from S$3,600 (US$2,500) to S$3,900 (US$2,700) for new applicants of the Employment Pass (EP). VIETNAM ENCOURAGING MORE SINGAPOREAN INVESTMENTS IN DA NANG Vietnam is eager to encourage more Singapore investments into Da Nang city, as its Vice-Chairman highlighted the city’s growth plans at an online seminar organized by the Singapore Business Federation (SBF) and the Asia Competitiveness Institute (ACI)-Lee AUDIT AND COMPLIANCE IN INDONESIA: A GUIDE FOR FOREIGN Audit and Compliance in Indonesia: A Guide for Foreign Investors. Foreign investors should understand the Company Law, which sets outs the requirements for audit compliance and preparing financial statements. Other important and relevant laws are the Investment Law and Capital Markets Law. If a company’s fiscal year differs from thecalendar
LYNN SHEN -
Lynn Shen is the Assistant Manager of Dezan Shira & Associates Corporate Accounting Service Team, based in our South China, Shenzhen office. She joined Dezan Shira in 2015 after graduating from Central University of Finance and Economics in Beijing.HELEN ZHANG
Helen Zhang is an Assistant Manager of Dezan Shira & Associates' Corporate Accounting Services team, based in the Suzhou office. Helen has more than 10 years of BUSINESS, LEGAL, TAX, INVESTMENT, ACCOUNTING NEWS ASEAN Briefing publishes business news, resources and publications concerning foreign direct investment into ASEAN, including the most important tax, legal and economic issues in Southeast Asia. COVID-19 VACCINE ROLL OUTS IN ASEAN & ASIA Mongolia is in discussions with Astra-Zeneca to purchase COVID-19 vaccines and is also part of the Covax scheme. Roll out is expected in Q2 2021. Mongolia has 53,100 cases and 253 deaths as of May 24. As of May 23, Mongolia has 52,470 cases and 248 deaths. Mongolia has 51,931 cases and 244 deaths as of May 22. US EXTENDS GSP STATUS FOR INDONESIA US Extends GSP Status for Indonesia. The US extended Indonesia’s Generalized System of Preference (GSP) status in early November 2020, meaning thousands of Indonesian exports to the US are duty-free. The US is seeking closer ties with Indonesia, particularly as tensions increase in the South China Sea. Indonesia exported more than US$2 RELIGIOUS HOLIDAY ALLOWANCES IN INDONESIA STILL OBLIGATORY Indonesia’s Ministry of Manpower has reminded employers that payment of the religious holiday allowance (THR) is still obligatory despitethe pandemic.
INDONESIA’S OMNIBUS LAW: THE POSITIVE INVESTMENT LIST ANDSEE MORE ONASEANBRIEFING.COM
THE INDONESIA-SINGAPORE BILATERAL INVESTMENT TREATY COMESSEE MORE ONASEANBRIEFING.COM
UK AND THAILAND TO COOPERATE IN NEW ERA OF SMART CITY According to Brian Davidson, the UK Ambassador to Thailand, “I hope the launch of the Smart City Handbook and the on-ground expertise as part of the Digital Trade Network will provide the foundations for future cooperation, sharing of experience and expertise between the UK and Thailand in areas of smart city development.” CHANGES TO SOCIAL SECURITY RATES IN INDONESIA FOR 2021 Indonesia has implemented new social security rates for 2021, which will impact the health and pension premiums. The government has increased the premium for Class III healthcare facilities for non-employees from 25,500 rupiah (US$1.74) to 35,000 rupiah (US$2.39) in addition to reducing the maximum wage base for pensions from8,939,700 rupiah
CAMBODIA ISSUES TAX INCENTIVES FOR THE EDUCATION SECTOR Cambodia Issues Tax Incentives for the Education Sector. On March 2, 2020, the Cambodian government issued Prakas 209, which extends the various tax incentives for education establishments. Prakas 209 provides incentives on withholding tax, value-added tax (VAT), minimum tax, and prepayment of tax on income (PTOI). INDONESIA INCREASES SOCIAL SECURITY PREMIUM FOR 2020 Indonesia’s social security programs are run by two organizations – the Social Security Administrator for Health (BPJS Kesehatan) for healthcare and the Workers Social Security (BPJS Ketenagakerjaan) forpensions.
BUSINESS, LEGAL, TAX, INVESTMENT, ACCOUNTING NEWS ASEAN Briefing publishes business news, resources and publications concerning foreign direct investment into ASEAN, including the most important tax, legal and economic issues in Southeast Asia. COVID-19 VACCINE ROLL OUTS IN ASEAN & ASIA Mongolia is in discussions with Astra-Zeneca to purchase COVID-19 vaccines and is also part of the Covax scheme. Roll out is expected in Q2 2021. Mongolia has 53,100 cases and 253 deaths as of May 24. As of May 23, Mongolia has 52,470 cases and 248 deaths. Mongolia has 51,931 cases and 244 deaths as of May 22. US EXTENDS GSP STATUS FOR INDONESIA US Extends GSP Status for Indonesia. The US extended Indonesia’s Generalized System of Preference (GSP) status in early November 2020, meaning thousands of Indonesian exports to the US are duty-free. The US is seeking closer ties with Indonesia, particularly as tensions increase in the South China Sea. Indonesia exported more than US$2 RELIGIOUS HOLIDAY ALLOWANCES IN INDONESIA STILL OBLIGATORY Indonesia’s Ministry of Manpower has reminded employers that payment of the religious holiday allowance (THR) is still obligatory despitethe pandemic.
INDONESIA’S OMNIBUS LAW: THE POSITIVE INVESTMENT LIST ANDSEE MORE ONASEANBRIEFING.COM
THE INDONESIA-SINGAPORE BILATERAL INVESTMENT TREATY COMESSEE MORE ONASEANBRIEFING.COM
UK AND THAILAND TO COOPERATE IN NEW ERA OF SMART CITY According to Brian Davidson, the UK Ambassador to Thailand, “I hope the launch of the Smart City Handbook and the on-ground expertise as part of the Digital Trade Network will provide the foundations for future cooperation, sharing of experience and expertise between the UK and Thailand in areas of smart city development.” CHANGES TO SOCIAL SECURITY RATES IN INDONESIA FOR 2021 Indonesia has implemented new social security rates for 2021, which will impact the health and pension premiums. The government has increased the premium for Class III healthcare facilities for non-employees from 25,500 rupiah (US$1.74) to 35,000 rupiah (US$2.39) in addition to reducing the maximum wage base for pensions from8,939,700 rupiah
CAMBODIA ISSUES TAX INCENTIVES FOR THE EDUCATION SECTOR Cambodia Issues Tax Incentives for the Education Sector. On March 2, 2020, the Cambodian government issued Prakas 209, which extends the various tax incentives for education establishments. Prakas 209 provides incentives on withholding tax, value-added tax (VAT), minimum tax, and prepayment of tax on income (PTOI). INDONESIA INCREASES SOCIAL SECURITY PREMIUM FOR 2020 Indonesia’s social security programs are run by two organizations – the Social Security Administrator for Health (BPJS Kesehatan) for healthcare and the Workers Social Security (BPJS Ketenagakerjaan) forpensions.
COVID-19 VACCINE ROLL OUTS IN ASEAN & ASIA Mongolia is in discussions with Astra-Zeneca to purchase COVID-19 vaccines and is also part of the Covax scheme. Roll out is expected in Q2 2021. Mongolia has 53,100 cases and 253 deaths as of May 24. As of May 23, Mongolia has 52,470 cases and 248 deaths. Mongolia has 51,931 cases and 244 deaths as MALAYSIA INTRODUCES PEMERKASA PLUS ECONOMIC STIMULUS PACKAGE Malaysia’s government has introduced its latest economic stimulus package — Pemerkasa Plus — as a response to the national lockdown measures, which were enforced from June 1, 2021. HOW CAN INDIAN BUSINESSES CAPITALIZE ON ASEAN’S E-COMMERCE ASEAN countries have been forced to accelerate their digital transformations because of the pandemic, with sectors such as e-commerce seeing a surge in users and transactions.. Having a combined population of 655 million people, of which 400 million are internet users, ASEAN’s e-commerce sector presents ample and scalable opportunities for Indian businesses looking to sell in thismarket.
INDONESIA’S OMNIBUS LAW: SIGNIFICANT CHANGES FOR CONTRACT Indonesia’s Omnibus Law: Significant Changes for Contract Workers. Indonesia’s GR 35/2021 stipulates significant changes to fixed-term employment contracts, outsourcing, hours of work, and the termination of employment procedure. The regulation also obligates employers to pay compensation to employees if their fixed-term contracts are being THE MINIMUM WAGE IN INDONESIA: INCREASED BY 8.5% FOR 2020 The Minimum Wage in Indonesia: Increased by 8.5% for 2020. By January 2020, Indonesia will increase its minimum wage by 8.51 percent from the current 2019 rate. As the minimum wage differs for every province, foreign investors should seek help from registered local advisors. On October 15, 2019, the Minister of Labor issued circular B-M 308 SINGAPORE'S MINISTRY OF MANPOWER REVISES RULES ON HIRING On March 3, 2020, Singapore’s Ministry of Manpower announced new rules on the hiring of foreign employees. These were enacted May 1, 2020. Under the new rules, the government has increased the minimum qualifying salary from S$3,600 (US$2,500) to S$3,900 (US$2,700) for new applicants of the Employment Pass (EP). VIETNAM ENCOURAGING MORE SINGAPOREAN INVESTMENTS IN DA NANG Vietnam is eager to encourage more Singapore investments into Da Nang city, as its Vice-Chairman highlighted the city’s growth plans at an online seminar organized by the Singapore Business Federation (SBF) and the Asia Competitiveness Institute (ACI)-Lee AUDIT AND COMPLIANCE IN INDONESIA: A GUIDE FOR FOREIGN Audit and Compliance in Indonesia: A Guide for Foreign Investors. Foreign investors should understand the Company Law, which sets outs the requirements for audit compliance and preparing financial statements. Other important and relevant laws are the Investment Law and Capital Markets Law. If a company’s fiscal year differs from thecalendar
LYNN SHEN -
Lynn Shen is the Assistant Manager of Dezan Shira & Associates Corporate Accounting Service Team, based in our South China, Shenzhen office. She joined Dezan Shira in 2015 after graduating from Central University of Finance and Economics in Beijing.HELEN ZHANG
Helen Zhang is an Assistant Manager of Dezan Shira & Associates' Corporate Accounting Services team, based in the Suzhou office. Helen has more than 10 years of BUSINESS, LEGAL, TAX, INVESTMENT, ACCOUNTING NEWS ASEAN Briefing publishes business news, resources and publications concerning foreign direct investment into ASEAN, including the most important tax, legal and economic issues in Southeast Asia. RELIGIOUS HOLIDAY ALLOWANCES IN INDONESIA STILL OBLIGATORY Indonesia’s Ministry of Manpower has reminded employers that payment of the religious holiday allowance (THR) is still obligatory despitethe pandemic.
SINGAPORE ALLOWS ENTRY OF TRAVELERS FROM MAINLAND CHINA Singapore Allows Entry of Travelers from Mainland China. Singapore began allowing short-term visitors from mainland China on November 6, 2020, through its Air Travel Pass (ATP) program. The program is open only to low-risk COVID-19 countries with Brunei, Australia, Vietnam, and New Zealand having already joined. HOW TO SET UP A REPRESENTATIVE OFFICE IN INDONESIA Opening a representative office (RO) is the fastest and simplest way of establishing a legal entity in Indonesia. This set up is a temporary arrangement as ROs are not allowed to engage in any commercial activities, issue invoices, sign contracts, or earn any revenue. Foreign investors, however, can own 100 percent of thisbusiness entity and
AUDIT AND COMPLIANCE IN INDONESIA: A GUIDE FOR FOREIGNSEE MORE ONASEANBRIEFING.COM
MALAYSIA'S HEALTHCARE SECTOR: A RISING GIANT IN ASEANSEE MORE ONASEANBRIEFING.COM
CAMBODIA ISSUES TAX INCENTIVES FOR THE EDUCATION SECTOR Cambodia Issues Tax Incentives for the Education Sector. On March 2, 2020, the Cambodian government issued Prakas 209, which extends the various tax incentives for education establishments. Prakas 209 provides incentives on withholding tax, value-added tax (VAT), minimum tax, and prepayment of tax on income (PTOI). WHY SETTING UP IN SINGAPORE MAKES SENSE FOR BUSINESS IN ASEAN Singapore has long been a preeminent destination for setting up a regional headquarters to pursue business opportunities across ASEAN and Asia.. The country’s status as a preferred investment destination in Asia can be attributed to its legal and tax regimes – one of the most business and investor-friendly in the world – as well as its financial system, which is highly integrated with PHILIPPINES UNDER DUTERTE: OPPORTUNITIES AND RISKS About Grapevine Asia Partners. Grapevine Asia Partners is a boutique risk consultancy firm with strong on-the-ground presence as well as in-house intelligence analysts in China and the Philippines.. Grapevine Asia Partners offers stakeholder mapping, regulatory and policy assessments, usually stemming from tightening industry regulations, as well as strengthening enforcement of commercial NATIONALITY AND RESIDENCE REQUIREMENTS FOR DIRECTORS About Us. Asia Briefing Ltd. is a subsidiary of Dezan Shira & Associates.Dezan Shira is a specialist foreign direct investment practice, providing corporate establishment, business advisory, tax advisory and compliance, accounting, payroll, due diligence and financial review services to multinationals investing in China, Hong Kong, India, Vietnam, Singapore and the rest of ASEAN. BUSINESS, LEGAL, TAX, INVESTMENT, ACCOUNTING NEWS ASEAN Briefing publishes business news, resources and publications concerning foreign direct investment into ASEAN, including the most important tax, legal and economic issues in Southeast Asia. RELIGIOUS HOLIDAY ALLOWANCES IN INDONESIA STILL OBLIGATORY Indonesia’s Ministry of Manpower has reminded employers that payment of the religious holiday allowance (THR) is still obligatory despitethe pandemic.
SINGAPORE ALLOWS ENTRY OF TRAVELERS FROM MAINLAND CHINA Singapore Allows Entry of Travelers from Mainland China. Singapore began allowing short-term visitors from mainland China on November 6, 2020, through its Air Travel Pass (ATP) program. The program is open only to low-risk COVID-19 countries with Brunei, Australia, Vietnam, and New Zealand having already joined. HOW TO SET UP A REPRESENTATIVE OFFICE IN INDONESIA Opening a representative office (RO) is the fastest and simplest way of establishing a legal entity in Indonesia. This set up is a temporary arrangement as ROs are not allowed to engage in any commercial activities, issue invoices, sign contracts, or earn any revenue. Foreign investors, however, can own 100 percent of thisbusiness entity and
AUDIT AND COMPLIANCE IN INDONESIA: A GUIDE FOR FOREIGNSEE MORE ONASEANBRIEFING.COM
MALAYSIA'S HEALTHCARE SECTOR: A RISING GIANT IN ASEANSEE MORE ONASEANBRIEFING.COM
CAMBODIA ISSUES TAX INCENTIVES FOR THE EDUCATION SECTOR Cambodia Issues Tax Incentives for the Education Sector. On March 2, 2020, the Cambodian government issued Prakas 209, which extends the various tax incentives for education establishments. Prakas 209 provides incentives on withholding tax, value-added tax (VAT), minimum tax, and prepayment of tax on income (PTOI). WHY SETTING UP IN SINGAPORE MAKES SENSE FOR BUSINESS IN ASEAN Singapore has long been a preeminent destination for setting up a regional headquarters to pursue business opportunities across ASEAN and Asia.. The country’s status as a preferred investment destination in Asia can be attributed to its legal and tax regimes – one of the most business and investor-friendly in the world – as well as its financial system, which is highly integrated with PHILIPPINES UNDER DUTERTE: OPPORTUNITIES AND RISKS About Grapevine Asia Partners. Grapevine Asia Partners is a boutique risk consultancy firm with strong on-the-ground presence as well as in-house intelligence analysts in China and the Philippines.. Grapevine Asia Partners offers stakeholder mapping, regulatory and policy assessments, usually stemming from tightening industry regulations, as well as strengthening enforcement of commercial NATIONALITY AND RESIDENCE REQUIREMENTS FOR DIRECTORS About Us. Asia Briefing Ltd. is a subsidiary of Dezan Shira & Associates.Dezan Shira is a specialist foreign direct investment practice, providing corporate establishment, business advisory, tax advisory and compliance, accounting, payroll, due diligence and financial review services to multinationals investing in China, Hong Kong, India, Vietnam, Singapore and the rest of ASEAN. COVID-19 VACCINE ROLL OUTS IN ASEAN & ASIA Mongolia is in discussions with Astra-Zeneca to purchase COVID-19 vaccines and is also part of the Covax scheme. Roll out is expected in Q2 2021. Mongolia has 53,100 cases and 253 deaths as of May 24. As of May 23, Mongolia has 52,470 cases and 248 deaths. Mongolia has 51,931 cases and 244 deaths as MALAYSIA INTRODUCES PEMERKASA PLUS ECONOMIC STIMULUS PACKAGE 1 day ago · Malaysia’s government has introduced its latest economic stimulus package — Pemerkasa Plus — as a response to the national lockdown measures, which were enforced from June 1, 2021. WHAT ARE INDONESIA'S LATEST GUIDELINES ON INTERNATIONAL What are Indonesia’s Latest Guidelines on International Travel? Only foreigners with work, business, or residency permits can enter Indonesia, although they will be placed in quarantine for five days, and take a COVID-19 test upon arrival, at their own cost. Indonesian citizens can return but also have to undergo quarantine for five daysand
HOW CAN INDIAN BUSINESSES CAPITALIZE ON ASEAN’S E-COMMERCE ASEAN countries have been forced to accelerate their digital transformations because of the pandemic, with sectors such as e-commerce seeing a surge in users and transactions.. Having a combined population of 655 million people, of which 400 million are internet users, ASEAN’s e-commerce sector presents ample and scalable opportunities for Indian businesses looking to sell in thismarket.
SINGAPORE ALLOWS ENTRY OF TRAVELERS FROM MAINLAND CHINA Singapore Allows Entry of Travelers from Mainland China. Singapore began allowing short-term visitors from mainland China on November 6, 2020, through its Air Travel Pass (ATP) program. The program is open only to low-risk COVID-19 countries with Brunei, Australia, Vietnam, and New Zealand having already joined. US EXTENDS GSP STATUS FOR INDONESIA US Extends GSP Status for Indonesia. The US extended Indonesia’s Generalized System of Preference (GSP) status in early November 2020, meaning thousands of Indonesian exports to the US are duty-free. The US is seeking closer ties with Indonesia, particularly as tensions increase in the South China Sea. Indonesia exported more than US$2 VIETNAM ENCOURAGING MORE SINGAPOREAN INVESTMENTS IN DA NANG Vietnam is eager to encourage more Singapore investments into Da Nang city, as its Vice-Chairman highlighted the city’s growth plans at an online seminar organized by the Singapore Business Federation (SBF) and the Asia Competitiveness Institute (ACI)-Lee AUDIT AND COMPLIANCE IN INDONESIA: A GUIDE FOR FOREIGN Audit and Compliance in Indonesia: A Guide for Foreign Investors. Foreign investors should understand the Company Law, which sets outs the requirements for audit compliance and preparing financial statements. Other important and relevant laws are the Investment Law and Capital Markets Law. If a company’s fiscal year differs from thecalendar
LYNN SHEN -
Lynn Shen is the Assistant Manager of Dezan Shira & Associates Corporate Accounting Service Team, based in our South China, Shenzhen office. She joined Dezan Shira in 2015 after graduating from Central University of Finance and Economics in Beijing.HELEN ZHANG
Helen Zhang is an Assistant Manager of Dezan Shira & Associates' Corporate Accounting Services team, based in the Suzhou office. Helen has more than 10 years of BUSINESS, LEGAL, TAX, INVESTMENT, ACCOUNTING NEWS ASEAN Briefing publishes business news, resources and publications concerning foreign direct investment into ASEAN, including the most important tax, legal and economic issues in Southeast Asia. RELIGIOUS HOLIDAY ALLOWANCES IN INDONESIA STILL OBLIGATORYINDONESIA RELIGIOUS BREAKDOWNINDONESIA RELIGIOUS MAP Indonesia’s Ministry of Manpower has reminded employers that payment of the religious holiday allowance (THR) is still obligatory despitethe pandemic.
THE INDONESIA-SINGAPORE BILATERAL INVESTMENT TREATY COMESSEE MORE ONASEANBRIEFING.COM
CAMBODIA ISSUES TAX INCENTIVES FOR THE EDUCATION SECTOR Cambodia Issues Tax Incentives for the Education Sector. On March 2, 2020, the Cambodian government issued Prakas 209, which extends the various tax incentives for education establishments. Prakas 209 provides incentives on withholding tax, value-added tax (VAT), minimum tax, and prepayment of tax on income (PTOI). HOW TO SET UP A REPRESENTATIVE OFFICE IN INDONESIA Opening a representative office (RO) is the fastest and simplest way of establishing a legal entity in Indonesia. This set up is a temporary arrangement as ROs are not allowed to engage in any commercial activities, issue invoices, sign contracts, or earn any revenue. Foreign investors, however, can own 100 percent of thisbusiness entity and
MALAYSIA'S HEALTHCARE SECTOR: A RISING GIANT IN ASEANSEE MORE ONASEANBRIEFING.COM
INCENTIVES FOR RENEWABLE ENERGY INVESTMENT IN ASEAN Research and Development Incentives in Singapore. In order to encourage investment in energy, water and green building solutions, Singapore has invested more than S $800 million (US $570 million) since 2011. These incentives include solar energy solutions, as well as providing a wide array of incentives across most of the renewableenergy sector.
PHILIPPINES UNDER DUTERTE: OPPORTUNITIES AND RISKS About Grapevine Asia Partners. Grapevine Asia Partners is a boutique risk consultancy firm with strong on-the-ground presence as well as in-house intelligence analysts in China and the Philippines.. Grapevine Asia Partners offers stakeholder mapping, regulatory and policy assessments, usually stemming from tightening industry regulations, as well as strengthening enforcement of commercial PERSONAL INCOME TAX IN INDONESIA FOR EXPATRIATE WORKERSINCOME TAX INDONESIAINDONESIA INCOME TAX LAWTAX AUTHORITY INDONESIAINDONESIA INCOME TAXWITHHOLDING TAX INDONESIAINDONESIA TAX GOVERNMENT Personal Income Tax in Indonesia for Expatriate Workers Explained. Personal income tax in Indonesia is determined through a self-assessment system, meaning resident tax payers need to file individual income tax returns. Resident tax payers are subject to progressive tax rates ranging from 5 percent to 30 percent. PHILIPPINE ECONOMIC GROWTH LOOKS STRONG IN 2015 The strong fourth quarter growth led J.P. Morgan to revise its 2015 GDP growth forecasts for the Philippines to 6.4 percent instead of its earlier projection of 5.4 percent. According to J.P. Morgan, “The key highlight of the GDP print was the recovery of government spending in the fourth quarter which assuages concerns regarding the BUSINESS, LEGAL, TAX, INVESTMENT, ACCOUNTING NEWS ASEAN Briefing publishes business news, resources and publications concerning foreign direct investment into ASEAN, including the most important tax, legal and economic issues in Southeast Asia. RELIGIOUS HOLIDAY ALLOWANCES IN INDONESIA STILL OBLIGATORYINDONESIA RELIGIOUS BREAKDOWNINDONESIA RELIGIOUS MAP Indonesia’s Ministry of Manpower has reminded employers that payment of the religious holiday allowance (THR) is still obligatory despitethe pandemic.
THE INDONESIA-SINGAPORE BILATERAL INVESTMENT TREATY COMESSEE MORE ONASEANBRIEFING.COM
CAMBODIA ISSUES TAX INCENTIVES FOR THE EDUCATION SECTOR Cambodia Issues Tax Incentives for the Education Sector. On March 2, 2020, the Cambodian government issued Prakas 209, which extends the various tax incentives for education establishments. Prakas 209 provides incentives on withholding tax, value-added tax (VAT), minimum tax, and prepayment of tax on income (PTOI). HOW TO SET UP A REPRESENTATIVE OFFICE IN INDONESIA Opening a representative office (RO) is the fastest and simplest way of establishing a legal entity in Indonesia. This set up is a temporary arrangement as ROs are not allowed to engage in any commercial activities, issue invoices, sign contracts, or earn any revenue. Foreign investors, however, can own 100 percent of thisbusiness entity and
MALAYSIA'S HEALTHCARE SECTOR: A RISING GIANT IN ASEANSEE MORE ONASEANBRIEFING.COM
INCENTIVES FOR RENEWABLE ENERGY INVESTMENT IN ASEAN Research and Development Incentives in Singapore. In order to encourage investment in energy, water and green building solutions, Singapore has invested more than S $800 million (US $570 million) since 2011. These incentives include solar energy solutions, as well as providing a wide array of incentives across most of the renewableenergy sector.
PHILIPPINES UNDER DUTERTE: OPPORTUNITIES AND RISKS About Grapevine Asia Partners. Grapevine Asia Partners is a boutique risk consultancy firm with strong on-the-ground presence as well as in-house intelligence analysts in China and the Philippines.. Grapevine Asia Partners offers stakeholder mapping, regulatory and policy assessments, usually stemming from tightening industry regulations, as well as strengthening enforcement of commercial PERSONAL INCOME TAX IN INDONESIA FOR EXPATRIATE WORKERSINCOME TAX INDONESIAINDONESIA INCOME TAX LAWTAX AUTHORITY INDONESIAINDONESIA INCOME TAXWITHHOLDING TAX INDONESIAINDONESIA TAX GOVERNMENT Personal Income Tax in Indonesia for Expatriate Workers Explained. Personal income tax in Indonesia is determined through a self-assessment system, meaning resident tax payers need to file individual income tax returns. Resident tax payers are subject to progressive tax rates ranging from 5 percent to 30 percent. PHILIPPINE ECONOMIC GROWTH LOOKS STRONG IN 2015 The strong fourth quarter growth led J.P. Morgan to revise its 2015 GDP growth forecasts for the Philippines to 6.4 percent instead of its earlier projection of 5.4 percent. According to J.P. Morgan, “The key highlight of the GDP print was the recovery of government spending in the fourth quarter which assuages concerns regarding the HOW CAN INDIAN BUSINESSES CAPITALIZE ON ASEAN’S E-COMMERCE ASEAN countries have been forced to accelerate their digital transformations because of the pandemic, with sectors such as e-commerce seeing a surge in users and transactions.. Having a combined population of 655 million people, of which 400 million are internet users, ASEAN’s e-commerce sector presents ample and scalable opportunities for Indian businesses looking to sell in thismarket.
VIETNAM ENCOURAGING MORE SINGAPOREAN INVESTMENTS IN DA NANG 1 day ago · Vietnam is eager to encourage more Singapore investments into Da Nang city, as its Vice-Chairman highlighted the city’s growth plans at an online seminar organized by the Singapore Business Federation (SBF) and the Asia Competitiveness Institute (ACI)-Lee RELIGIOUS HOLIDAY ALLOWANCES IN INDONESIA STILL OBLIGATORY Indonesia’s Ministry of Manpower has reminded employers that payment of the religious holiday allowance (THR) is still obligatory despitethe pandemic.
LYNN SHEN -
Lynn Shen is the Assistant Manager of Dezan Shira & Associates Corporate Accounting Service Team, based in our South China, Shenzhen office. She joined Dezan Shira in 2015 after graduating from Central University of Finance and Economics in Beijing. WHAT ARE INDONESIA'S LATEST GUIDELINES ON INTERNATIONAL What are Indonesia’s Latest Guidelines on International Travel? Only foreigners with work, business, or residency permits can enter Indonesia, although they will be placed in quarantine for five days, and take a COVID-19 test upon arrival, at their own cost. Indonesian citizens can return but also have to undergo quarantine for five daysand
HELEN ZHANG
Helen Zhang is an Assistant Manager of Dezan Shira & Associates' Corporate Accounting Services team, based in the Suzhou office. Helen has more than 10 years of MALAYSIA ISSUES STIMULUS PACKAGE TO COMBAT COVID-19 IMPACT Malaysia Issues Stimulus Package to Combat COVID-19 Impact. In February 2020, the Malaysian government issued an emergency stimulus package worth US$4.8 billion to counter the impact of the COVID-19 outbreak. The package implements strategies that include spurring economic growth, promoting investments, and encouraging businesses toadopt
THAILAND ISSUES NEW COVID-19 STIMULUS PACKAGE TO Thailand has issued three major stimulus packages ( Phase 1, 2, and 3) in 2020 in response to the economic fallout of the pandemic, totaling over US$30 billion. These packages focused on providing soft loans for small and medium-sized enterprises (SMEs), tax exemptions, and cash handouts to certain workers. In addition, the government issued IMPORT AND EXPORT PROCEDURES IN THE PHILIPPINES The Philippines is an archipelago comprising of 7,641 islands. The country shares maritime borders with China, Indonesia, Japan, Malaysia, Taiwan, Vietnam, and the island nation of Palau. In 2015, the Philippines exported goods valued at US$77.9 billion and imported products worth US$76.8 billion. The Philippines’ top exportdestinations are
OPPORTUNITIES FOR FOREIGN INVESTORS IN INDONESIA’S DIGITAL New Investment Opportunities in Indonesia. Indonesia’s digital economy has seen exponential growth over the last few years and is expected to be valued at US$124 billion by 2025. An increasingly prosperous, tech-savvy consumer demographic is reshaping the way the nation consumes, creating a wealth of opportunities for foreigninvestors.
BUSINESS, LEGAL, TAX, INVESTMENT, ACCOUNTING NEWS ASEAN Briefing publishes business news, resources and publications concerning foreign direct investment into ASEAN, including the most important tax, legal and economic issues in Southeast Asia. RELIGIOUS HOLIDAY ALLOWANCES IN INDONESIA STILL OBLIGATORYINDONESIA RELIGIOUS BREAKDOWNINDONESIA RELIGIOUS MAP Indonesia’s Ministry of Manpower has reminded employers that payment of the religious holiday allowance (THR) is still obligatory despitethe pandemic.
THE INDONESIA-SINGAPORE BILATERAL INVESTMENT TREATY COMESSEE MORE ONASEANBRIEFING.COM
CAMBODIA ISSUES TAX INCENTIVES FOR THE EDUCATION SECTOR Cambodia Issues Tax Incentives for the Education Sector. On March 2, 2020, the Cambodian government issued Prakas 209, which extends the various tax incentives for education establishments. Prakas 209 provides incentives on withholding tax, value-added tax (VAT), minimum tax, and prepayment of tax on income (PTOI). HOW TO SET UP A REPRESENTATIVE OFFICE IN INDONESIA Opening a representative office (RO) is the fastest and simplest way of establishing a legal entity in Indonesia. This set up is a temporary arrangement as ROs are not allowed to engage in any commercial activities, issue invoices, sign contracts, or earn any revenue. Foreign investors, however, can own 100 percent of thisbusiness entity and
MALAYSIA'S HEALTHCARE SECTOR: A RISING GIANT IN ASEANSEE MORE ONASEANBRIEFING.COM
INCENTIVES FOR RENEWABLE ENERGY INVESTMENT IN ASEAN Research and Development Incentives in Singapore. In order to encourage investment in energy, water and green building solutions, Singapore has invested more than S $800 million (US $570 million) since 2011. These incentives include solar energy solutions, as well as providing a wide array of incentives across most of the renewableenergy sector.
PHILIPPINES UNDER DUTERTE: OPPORTUNITIES AND RISKS About Grapevine Asia Partners. Grapevine Asia Partners is a boutique risk consultancy firm with strong on-the-ground presence as well as in-house intelligence analysts in China and the Philippines.. Grapevine Asia Partners offers stakeholder mapping, regulatory and policy assessments, usually stemming from tightening industry regulations, as well as strengthening enforcement of commercial PERSONAL INCOME TAX IN INDONESIA FOR EXPATRIATE WORKERSINCOME TAX INDONESIAINDONESIA INCOME TAX LAWTAX AUTHORITY INDONESIAINDONESIA INCOME TAXWITHHOLDING TAX INDONESIAINDONESIA TAX GOVERNMENT Personal Income Tax in Indonesia for Expatriate Workers Explained. Personal income tax in Indonesia is determined through a self-assessment system, meaning resident tax payers need to file individual income tax returns. Resident tax payers are subject to progressive tax rates ranging from 5 percent to 30 percent. PHILIPPINE ECONOMIC GROWTH LOOKS STRONG IN 2015 The strong fourth quarter growth led J.P. Morgan to revise its 2015 GDP growth forecasts for the Philippines to 6.4 percent instead of its earlier projection of 5.4 percent. According to J.P. Morgan, “The key highlight of the GDP print was the recovery of government spending in the fourth quarter which assuages concerns regarding the BUSINESS, LEGAL, TAX, INVESTMENT, ACCOUNTING NEWS ASEAN Briefing publishes business news, resources and publications concerning foreign direct investment into ASEAN, including the most important tax, legal and economic issues in Southeast Asia. RELIGIOUS HOLIDAY ALLOWANCES IN INDONESIA STILL OBLIGATORYINDONESIA RELIGIOUS BREAKDOWNINDONESIA RELIGIOUS MAP Indonesia’s Ministry of Manpower has reminded employers that payment of the religious holiday allowance (THR) is still obligatory despitethe pandemic.
THE INDONESIA-SINGAPORE BILATERAL INVESTMENT TREATY COMESSEE MORE ONASEANBRIEFING.COM
CAMBODIA ISSUES TAX INCENTIVES FOR THE EDUCATION SECTOR Cambodia Issues Tax Incentives for the Education Sector. On March 2, 2020, the Cambodian government issued Prakas 209, which extends the various tax incentives for education establishments. Prakas 209 provides incentives on withholding tax, value-added tax (VAT), minimum tax, and prepayment of tax on income (PTOI). HOW TO SET UP A REPRESENTATIVE OFFICE IN INDONESIA Opening a representative office (RO) is the fastest and simplest way of establishing a legal entity in Indonesia. This set up is a temporary arrangement as ROs are not allowed to engage in any commercial activities, issue invoices, sign contracts, or earn any revenue. Foreign investors, however, can own 100 percent of thisbusiness entity and
MALAYSIA'S HEALTHCARE SECTOR: A RISING GIANT IN ASEANSEE MORE ONASEANBRIEFING.COM
INCENTIVES FOR RENEWABLE ENERGY INVESTMENT IN ASEAN Research and Development Incentives in Singapore. In order to encourage investment in energy, water and green building solutions, Singapore has invested more than S $800 million (US $570 million) since 2011. These incentives include solar energy solutions, as well as providing a wide array of incentives across most of the renewableenergy sector.
PHILIPPINES UNDER DUTERTE: OPPORTUNITIES AND RISKS About Grapevine Asia Partners. Grapevine Asia Partners is a boutique risk consultancy firm with strong on-the-ground presence as well as in-house intelligence analysts in China and the Philippines.. Grapevine Asia Partners offers stakeholder mapping, regulatory and policy assessments, usually stemming from tightening industry regulations, as well as strengthening enforcement of commercial PERSONAL INCOME TAX IN INDONESIA FOR EXPATRIATE WORKERSINCOME TAX INDONESIAINDONESIA INCOME TAX LAWTAX AUTHORITY INDONESIAINDONESIA INCOME TAXWITHHOLDING TAX INDONESIAINDONESIA TAX GOVERNMENT Personal Income Tax in Indonesia for Expatriate Workers Explained. Personal income tax in Indonesia is determined through a self-assessment system, meaning resident tax payers need to file individual income tax returns. Resident tax payers are subject to progressive tax rates ranging from 5 percent to 30 percent. PHILIPPINE ECONOMIC GROWTH LOOKS STRONG IN 2015 The strong fourth quarter growth led J.P. Morgan to revise its 2015 GDP growth forecasts for the Philippines to 6.4 percent instead of its earlier projection of 5.4 percent. According to J.P. Morgan, “The key highlight of the GDP print was the recovery of government spending in the fourth quarter which assuages concerns regarding the HOW CAN INDIAN BUSINESSES CAPITALIZE ON ASEAN’S E-COMMERCE ASEAN countries have been forced to accelerate their digital transformations because of the pandemic, with sectors such as e-commerce seeing a surge in users and transactions.. Having a combined population of 655 million people, of which 400 million are internet users, ASEAN’s e-commerce sector presents ample and scalable opportunities for Indian businesses looking to sell in thismarket.
VIETNAM ENCOURAGING MORE SINGAPOREAN INVESTMENTS IN DA NANG 1 day ago · Vietnam is eager to encourage more Singapore investments into Da Nang city, as its Vice-Chairman highlighted the city’s growth plans at an online seminar organized by the Singapore Business Federation (SBF) and the Asia Competitiveness Institute (ACI)-Lee RELIGIOUS HOLIDAY ALLOWANCES IN INDONESIA STILL OBLIGATORY Indonesia’s Ministry of Manpower has reminded employers that payment of the religious holiday allowance (THR) is still obligatory despitethe pandemic.
LYNN SHEN -
Lynn Shen is the Assistant Manager of Dezan Shira & Associates Corporate Accounting Service Team, based in our South China, Shenzhen office. She joined Dezan Shira in 2015 after graduating from Central University of Finance and Economics in Beijing. WHAT ARE INDONESIA'S LATEST GUIDELINES ON INTERNATIONAL What are Indonesia’s Latest Guidelines on International Travel? Only foreigners with work, business, or residency permits can enter Indonesia, although they will be placed in quarantine for five days, and take a COVID-19 test upon arrival, at their own cost. Indonesian citizens can return but also have to undergo quarantine for five daysand
HELEN ZHANG
Helen Zhang is an Assistant Manager of Dezan Shira & Associates' Corporate Accounting Services team, based in the Suzhou office. Helen has more than 10 years of MALAYSIA ISSUES STIMULUS PACKAGE TO COMBAT COVID-19 IMPACT Malaysia Issues Stimulus Package to Combat COVID-19 Impact. In February 2020, the Malaysian government issued an emergency stimulus package worth US$4.8 billion to counter the impact of the COVID-19 outbreak. The package implements strategies that include spurring economic growth, promoting investments, and encouraging businesses toadopt
THAILAND ISSUES NEW COVID-19 STIMULUS PACKAGE TO Thailand has issued three major stimulus packages ( Phase 1, 2, and 3) in 2020 in response to the economic fallout of the pandemic, totaling over US$30 billion. These packages focused on providing soft loans for small and medium-sized enterprises (SMEs), tax exemptions, and cash handouts to certain workers. In addition, the government issued IMPORT AND EXPORT PROCEDURES IN THE PHILIPPINES The Philippines is an archipelago comprising of 7,641 islands. The country shares maritime borders with China, Indonesia, Japan, Malaysia, Taiwan, Vietnam, and the island nation of Palau. In 2015, the Philippines exported goods valued at US$77.9 billion and imported products worth US$76.8 billion. The Philippines’ top exportdestinations are
OPPORTUNITIES FOR FOREIGN INVESTORS IN INDONESIA’S DIGITAL New Investment Opportunities in Indonesia. Indonesia’s digital economy has seen exponential growth over the last few years and is expected to be valued at US$124 billion by 2025. An increasingly prosperous, tech-savvy consumer demographic is reshaping the way the nation consumes, creating a wealth of opportunities for foreigninvestors.
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