News

California Proposes Changes to Apportionment Rules, Applies Market-Based Sourcing to Non-Resident Directors

The California Franchise Tax Board (FTB) recently proposed significant amendments to the state's personal income sourcing and apportionment rules. In particular, these changes target non-resident corporate directors who receive compensation for services performed outside California,...

China, Stamp Tax Policies for Enterprise Restructuring and Public Institution Reform

On September 4th, 2024, the Ministry of Finance (MOF) and the State Taxation Administration (STA) have jointly issued the Announcement on Relevant Stamp Tax Policies for Enterprise Restructuring and...

UAE, FTA urges Corporate Tax registration by September’s end

The Federal Tax Authority (FTA) has urged Resident Juridical Persons with licences issued in July, irrespective of the year of issuance, to promptly submit their Corporate Tax registration application...

HK Govt supports SMEs’ transformation

The Government’s staunch support for local small and medium enterprises (SMEs) has long been a cornerstone of its economic strategy – and no better illustration of this approach is...

Thailand’s supercharged EV sales poised for a new surge

BYD and BMW are two very different auto companies. BYD is the Chinese upstart that is tussling with Tesla for the title of world’s leading manufacturer of new energy...

Thailand BOI Approves Investment Worth USD1.54 billion in Biochemicals, Data Centers, and Hospital; Sets New Promotion Category for the Repair of Used EV Batteries and ESS

The Thailand Board of Investment (BOI) approved the investment promotion applications of eight large projects worth a combined 56.95 billion baht (USD 1.54 billion), including a bio-ethylene plant project...

Tripartite Guidelines on Flexible Work Arrangement (FWA) Requests in Singapore

On 16 April 2024, the Ministry of Manpower (MOM) announced the introduction of tripartite guidelines for flexible work arrangement requests, effective 1 December 2024. These guidelines establish minimum requirements...

Thailand BOI Approves Incentives to Promote JV Investments in Automotive Parts Sector

The Thailand Board of Investment (BOI) yesterday approved a package of incentives to promote investment in joint ventures (JV) between Thai and foreign companies to manufacture automotive parts and...

Thai Cabinet approves the Establishment of The National Credit Guarantee Agency (NaCGA) to support SMEs to access low interest loans

On August 13, 2024, the Thai Cabinet approved the establishment of the National Credit Guarantee Agency (NaCGA) to facilitate small and medium-sized enterprises (SMEs) in obtaining low-interest loans. The...

Thailand, New Criteria and Practice for Customs Clearance of Duty-Exempt Imported Goods Valued up to 1,500 Baht

The new criteria for customs clearance of imported goods valued at 1,500 Baht or less have been established in response to the government's policy aimed at addressing the issue...