From January to April this year, the total amount of foreign investment in Vietnam approved by Vietnam is 12.3325 billion US dollars!

From January to April this year, the total amount of foreign investment in Vietnam approved by Vietnam is 12.3325 billion US dollars! <Economic Division, Taipei Economic and Cultural Office in Vietnam> According to the statistics from the Ministry of Planning and Investment of Vietnam, the total approved investment amount by foreign investors in Vietnam from […]

Philippines: President approves law to remove foreign equity restrictions on public service companies

Philippines: President approves law to remove foreign equity restrictions on public service companies On March 22, 2022, the President of the Philippines signed into law RA 11659, which amends the Public Service Act to relax foreign ownership restrictions imposed by the Philippine Constitution on “utilities.” RA 11659 will come into force on April 9, 2022, […]

Major Tax Updates in Singapore

Major Tax Updates in Singapore Raise the consumption tax rateSingapore’s current GST rate for standard taxed goods and services is 7%. The Ministry of Finance announced that the GST rate will be increased to 8% on 1 January 2023 and 9% on 1 January 2024. The increase in GST rates is expected and inevitable as […]

Singapore’s economic growth expected to hit 7% this year, slow to below 5% next year

Singapore’s economic growth expected to hit 7% this year, slow to below 5% next year 【 2021-11-24 Source: Economic Daily 】 Singapore’s economy is expected to grow by 7% this year, but will slow to below 5% next year, reflecting the uneven pace of recovery across industries. Singapore’s Ministry of Trade and Industry announced that […]

From February 15, Vietnam will no longer restrict the frequency of scheduled international passenger flights.

According to a media guide, Dinh Viet Son, deputy director-general of the Vietnam Civil Aviation Administration, said the agency had instructed the Vietnam Flight Management Company to issue a news announcement about Vietnam’s cancellation of aviation frequency restrictions starting February 15.

Singapore economy headed for fastest annual growth in more than a decade

Singapore’s economic recovery accelerated in the fourth quarter of 2021, heading towards its fastest full-year growth in more than a decade.

Singapore’s economic growth this year is expected to reach 7%, and it will slow to below 5% next year

Singapore’s economic growth this year is expected to reach 7%, and it will slow to below 5% next year 【2021-11-24 Source: Economic Daily】 Singapore’s economic growth is expected to reach 7% this year, but it will slow to below 5% next year, reflecting the varying pace of recovery in various industries. The Ministry of Trade […]

Announcement on matters related to pre-tax deduction of advertising expenses and business promotion expenses

Announcement on matters related to pre-tax deduction of advertising expenses and business promotion expenses Source: Ministry of Finance and State Administration of Taxation Announcement No. 43 (2020) Date: November 27, 2020 In accordance with the “Enterprise Income Tax Law of the People’s Republic of China” and its implementation regulations, the announcement regarding the pre-tax deduction […]

China no longer classifies foreign-funded enterprises according to Sino-foreign joint ventures and cooperation

China no longer classifies foreign-funded enterprises according to Sino-foreign joint ventures and cooperation Source: State Council Date: December 21, 2020 In order to implement the “Foreign Investment Law”, the State Council recently issued the State Council Order No. 732, promulgating the “Decision of the State Council on Amending and Repealing Certain Administrative Regulations”, and sorting […]

Guangzhou implements a convenient plan for free customs clearance of trade in the Greater Bay Area

Guangzhou implements a convenient plan for free customs clearance of trade in the Greater Bay Area In order to implement the important deployment of “Promotion of Trade Liberalization” in the “Outline Development Plan for the Guangdong-Hong Kong-Macao Greater Bay Area”, strengthen the overall coordination of trade liberalization and customs clearance facilitation, and recently reviewed and […]