Switzerland: Swiss Sanctions Update: Sanctions Against Myanmar/Burma
On March 31, 2021, the Swiss government amended the list of individuals in Annex 1 to the Ordinance on Measures against Myanmar/Burma. Eleven individuals responsible...
United Kingdom: UK announces further Myanmar restrictions
On 25 March 2021, the UK Government announced further measures targeting the Myanmar regime, adding Myanmar Economic Holdings Public Company Ltd (MEHL) to the Global Human Rights...
Vietnam: Key highlights of new duty treatment regime applied to exported/imported goods
The government recently issued Decree No. 18/2021/ND-CP (“Decree No. 18”), amending a number of provisions under Decree No. 134/2016/ND-CP and elaborating on the Law on Export and Import Duties. The new decree comes into force on 25 April 2021.
Philippines: Corporate Recover and Tax Incentives for Enterprises (CREATE) Act passed into law
On 26 March 2021, the president signed into law Republic Act No. 11534 or the CREATE Act, which is the reconciled version of the Bicameral Conference Committee. It settled the disagreeing provisions of House Bill No. 4157 and Senate Bill No. 1357. The CREATE Act was previously known as the Corporate Income Tax and Incentives Reform Act (CITIRA) bill. The law will become effective on 11 April 2021.
Philippines: Latest eRehistro updates from the National Privacy Commission
The Philippine National Privacy Commission (NPC) released on its official Facebook page two announcements regarding the soon-to-be launched eRehistro system. The NPC announced: (1) the system's process and requirements for account creation, data processing systems (DPS) inventory; and (2) the amendment of registration information for covered personal information controllers (PIC) and personal information processors (PIP).
Japan: Asia Pacific Competition Highlights, Q1 2021
New law affecting digital markets in Japan now in effectA new law that would require greater transparency in transactions involving digital platform operators came into force on 1 February 2021.
Vietnam: Asia Pacific Competition Highlights, Q12021
Regulators continue to review economic concentration notifications
Vietnam issues draft Decree on the management of costs incurred in competition procedures
Singapore: IRAS’s transfer pricing guidance for headquarters in Singapore
Due to the strategic location and the business-friendly environment that Singapore offers, many multinational enterprise (MNE) groups have centralized operations in Singapore, and they often function as the global/regional headquarters (HQ) of the MNEs. With increasing focus on these structures and the associated transfer pricing arrangements (both domestically and overseas), the Inland Revenue Authority of Singapore (IRAS) published an e-tax guide entitled "Transfer Pricing Guidelines Special Topic - Centralized Activities in Multinational Enterprise Groups" ("Guide") on 19 March 2021 to provide administrative guidance on determining an arm's length remuneration for centralized activities in Singapore.In this alert, we discuss the Guide, and provide transfer pricing insights for HQs located in Singapore.
Singapore: The circumstances upon which an employer can claw back monies from an employee
In brief
Denka Advantech Pte Ltd. and another v. Seraya Energy Pte Ltd. and another and other appeals SGCA 119 ("Denka v. Seraya") provides a...
Malaysia: Asia Pacific Competition Highlights, Q1 2021
In briefMyCC issues second abuse of dominance decision, in first finding on exclusive dealingMyCC has fined Dagang Net Technologies Sdn. Bhd. RM 10.3...