Managing ASEAN Expansion from Singapore: ASEAN Briefing

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Asean Briefing March 2016In this issue of ASEAN Briefing:

  • The benefits of Singapore
  • The Step-by-Step Guide to Establishing Operations in Singapore
  • Taxation in Singapore
  • Case Study: Routing Chilean Investments Through Singapore

Expanding internationally can be a significant challenge in foreign markets – of which the Association of South East Asian Nations (ASEAN) is no exception. Diverse economies, divergent systems of taxation, and challenging regulations can all present challenges for even the most weathered and adaptive firms.

Although crafting a strategy to maximize profit in ASEAN – a region comprised of 10 economies at varying stages of development – may seem a particularly daunting task, effective investment strategy can help to minimize uncertainty and harness ASEAN’s diversity. Of critical importance in this respect is the establishment of regional management centers. Not only can these centers help to bring predictability to regional market entry; more importantly, regional management can act as an effective tool to maximize profits.

For the second issue of our ASEAN Briefing Magazine published on March 2016, we look at the benefits of using Singapore a hub for the management of regional operations throughout ASEAN.

We firstly focus on the position of Singapore relative to its competitors, such as the Netherlands and Hong Kong. We then provide step-by-step instructions on corporate establishment, and provide expert insight on maximizing returns through the reduction respective tax burdens.

Visit Asia Briefing to download the e-publication.

Transfer Pricing in China by Dezan Shira & Associates

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transfer pricing in ChinaWhen a business transaction occurs between businesses that are controlled by the same entity, the price is not determined by market forces, but by the entity controlling the two businesses. This is called transfer pricing. An example is a transaction between a parent and its subsidiary, or other intra-group transactions.

These transactions can be used to shift funds – and thereby profits. Such transactions can serve as a tool for finance and tax planning. For instance, China’s foreign currency control regulations only allow one dividend issuance to a foreign entity a year. Moving funds out of China by using inter-company transactions can then offer a solution.

In this new report on Transfer Pricing, Dezan Shira & Associates discuss what types of transactions foreign investors can use to shifts funds in this way. [Read more…]

Vietnam Briefing: Annual Audit and Compliance Vietnam 2016

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Vietnam Briefing 2016Download and read the latest online resource from Vietnam Briefing titled “Annual Audit and Compliance in Vietnam 2016”. The Vietnam Briefing Magazine publishes 4 regular issues and 2 special editions per year. Its content is provided by Dezan Shira & Associates.

In this issue, Dezan Shira & Associates address pressing changes to audit procedures in 2015, and provide guidance on how to ensure that compliance tasks are completed in an efficient and effective manner. They highlight the continued convergence of VAS with IFRS, discuss the emergence of e-filing, and provide step-by-step instructions on audit and compliance procedures for Foreign Owned Enterprises (FOEs) as well as Representative Offices (ROs).

This topic is composed of 3 parts: Vietnam’s Current Compliance Environment; A Guide to Navigating Annual Audit and Compliance; and Q&A: Optimizing Your Audit and Compliance Experience.

Dezan Shira & Associates has a growing team of accounting and legal professional in Vietnam with years of experience helping foreign enterprises ensure compliance. [Read more…]

LEA Global Offers Free Whitepaper on Doing Business in Canada

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Doing Business in Canada LEA Global

LEA Global, the second-largest international association in the world, and local member firm Machica Group (Machica Tan-Cruz & Co and MACHICA FIRM (Financial, Insurance & Risk Managers), INC.) are pleased to announce the release of BUSINESS IN CANADA, a complimentary whitepaper detailing the challenges companies face when doing business on the continent.

The whitepaper is intended to assist businesses considering doing business in Asia and provides details about the cultural, governmental, and economic forces in the various regions of the continent.

Michael Newton, the Managing Partner of FL Fuller Landau LLP, a member of LEA Global, was a source for the whitepaper and is available to answer questions about doing business in Canada. [Read more…]

ASEAN Foreign Direct Investment News: ASEAN-China FTA Expanding

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Welcome to the September edition of Dezan Shira & Associates’ ASEAN Regional Update, highlighting business and regulatory news in Singapore and the ASEAN region.

In this update we will examine FDI into Indonesia, Thailand’s new inheritance tax, an expanded China-ASEAN FTA, and new infrastructure links for India, Myanmar and Thailand.

 

Indonesia’s FDI for First Half of 2015 Best in ASEAN

Earlier this month, the Indonesian government unveiled statistics showing that the country received more foreign direct investment (FDI) than any other ASEAN member state. While Indonesia has faced some difficulties with the rupiah like other regional currencies losing some of its value against the dollar, the country remains a highly attractive investment destination.

Thailand Unveils New Inheritance Tax

Thailand recently announced the planned implementation of a new inheritance tax. Due to take effect from the beginning of next year, the inheritance tax will impose a levy on inherited assets over 100 million baht (US $2.8 million), with differing rates applying to direct descendants and non-descendants. Additionally, a gift tax was announced alongside the inheritance tax. The new levies reflect the government’s desire to boost revenue and social spending.

ASEAN and China Announce Expanded FTA to be Completed by End of Year

Officials from China and ASEAN both announced lately last month that they expect negotiations over an expansion of the monumental 2010 ASEAN-China free trade agreement (FTA) to be completed by the end of November. Building of the success of the original FTA, the expansion seeks to further reduce tariffs on a wider array of goods and services.

New Section of Three-Nation Highway Links India, Myanmar and Thailand

Earlier this month a new section highway along the East-West economic corridor of the Greater Mekong Sub-region was opened. Once entirely completed, the 3,200 km highway will link Moreh, India with Maesot, Thailand, thereby linking up with existing Thai and Indian highway systems, and incorporating Myanmar (a country sorely in need of infrastructure development) into a larger, pan-Asian transportation network. The highway project is an important facet of Indian Prime Minister Modi’s look east policy, and will serve as a spur in the regional integration of South and Southeast Asia.