Czechia: Working conditions for employees who take care of minors, within the context of the 2023 amendment to the Labor Code
At the close of January 2023, the Ministry of Labor and Social Affairs in Czechia published a revised version of the amendment bill to the Labor Code which reflects various comments that were made on the previous language. Before the year is out, the amendment is likely to deliver a number of changes that will make themselves felt e.g. with respect to the working conditions for employees who take care of children.
A Guide to Minimum Wages in China in 2023 (Last Updated on February 21, 2023)
Minimum wages in China continue to rise.
As of February 21, 2023, Shanghai has the highest monthly minimum wage among 31 provinces (RMB 2,590/US$400 per month) and Beijing has the highest hourly minimum wage (RMB 25.3/US$3.9 per hour). 13 regions – Beijing, Tianjin, Hebei, Shanghai, Jiangsu, Zhejiang, Fujian, Shandong, Henan, Hubei, Guangdong (including Shenzhen), Chongqing, and Sichuan – have surpassed the RMB 2,000 (US$308) mark in their monthly minimum wage standards.
TALENT IN INDIA IS HIGHLY ASPIRATIONAL
Sonal Thakker, Partner, Hunt Partners and Associate Partner, CT Executive Search
How do you assess the current demand for executives in India? In which areas is there a particularly large number of recruitments?
The Indian economy has greatly expanded in the post-pandemic phase – leading to twin dimensions of enhanced M&A activity and secular growth across industries. These factors have contributed to a considerable demand for CxO hiring in several industries and sectors.
The consumer internet sector – which has grown geometrically prior to, and during the pandemic - has witnessed CxO churn. We believe the shakeout at the management layer is driven by new unit-economics, a tightening funding environment, increased regulatory oversight, and finally – enhanced fiduciary requirements for entities that listed via IPOs. We see the demand for CxOs in areas such as finance, compliance, investor relations, and public/government affairs.
INDIA MEANS PATIENCE AND RELATIONS
Georg Graf, Regional Representative for India, Freudenberg Group and Past President, Indo-German Chamber of Commerce IGCC (AHK)
What specific challenges do European companies have to reckon with in India?
India is the youngest-connected-democracy in the world and is increasingly being considered a preferred partner in manufacturing across industries. European companies are beginning to realize that India is more than just a consumption market. As the Past President of the Indo-German Chamber of Commerce, I am happy that this is true for all German companies as well.
INDIA – EMPLOYMENT CONTRACTS FOR EXPATS
Ursula Hoffmann-Mukherjee, Senior Associate, Rödl & Partner India
Previous international experience will determine how much support the employee will require on site. Therefore, in addition to tax law and legal aspects, individual contract components should also be agreed in employment contracts for expats. This article is intended to provide an overview of the usual contract components in employment contracts for German expats in India.
Thailand Adopts Work from Home Bill: Implications for Employers
Thailand has made an amendment to the Labor Protection Act to offer the same labor rights to remote workers. Employers can allow employees to work outside the business premises using information technology, such as computers and smartphones.
If an employer and employee agree, they should specify the terms of remote work in a written format.
China 2022 Economic Growth – A Breakdown of Provincial GDP Statistics
China’s 31 mainland provinces, municipalities, and autonomous regions have released their local GDP and economic indicators for 2022. The data reflects the nationwide slowdown in economic growth in 2022, but also shows significant variations from region to region. This briefing analyses the drivers behind the 2022 China provincial GDP figures and discusses the prospects for growth in 2023.
Czechia: Key changes in labor law – A look at the upcoming major amendment to the Labor Code
Czechia's Labor Code will ring in far-reaching changes in 2023. Employers in particular should prepare for new obligations which arise for them from the planned amendment to the Labor Code. Major changes have been proposed in particular with respect to work arrangements outside a proper employment relationship, the regulation of work from home, and the communication between employer and employee.
UAE Sets Zero Corporate Tax Threshold At US$100,000
The UAE has set the ‘Applicable Taxable Income’ threshold for Corporate Tax. A zero per cent rate will apply to taxable income that does not exceed Dh375,000 (US$102,000) during the same tax period regardless of the number of businesses or business activities the taxable person is engaged in during that period.
China to Extend Preferential Individual Income Tax Policies
China has announced the extension of preferential individual income tax policies to December 31, 2023. We explain the major provisions included in the announcement, illustrate the original policies, and discuss how they may impact resident taxpayers.
Singapore Implements New Scheme to Help Businesses Hire Foreign Workers
Singapore’s Manpower for Strategic Economic Priorities (M-SEP) scheme enables eligible companies to hire foreign S Pass and Work Permit holders above the permitted prevailing quotas.
There are two conditions that companies must meet to qualify; participate in at least one key economic program provided by the government and commit to hiring or training Singaporeans.
5 Key Industries to Watch in China in 2023
China’s economic growth in 2023 will be led by several key industries that are forecast to flourish due to the lifting of COVID restrictions, as well as government support and incentives. These include tourism, new energy vehicles, online shopping, software development, and healthcare. We discuss five main Chinese industries that will be of considerable interest to foreign investors in 2023.
Dubai’s DMCC Free Trade Zone Attracts Over 3,000 New Investors in 2022
Dubai’s DMBB Free Trade Zone signed 3,049 new investing companies in 2022, taking the total of businesses invested by the free zone to 22,000.
The ambitious efforts to broaden business horizons are part of the NextGenFDI initiative, which aims to attract advanced technology companies from all over the world with a series of incentives.
These include making licensing and financing easier, offering golden visas, providing commercial and residential lease incentives, relocation guidance, cloud infrastructure and affordable education for families.
Doing Business in China 2023
Economists expect China will fully reopen in the second half of 2023, pushing GDP growth to around five percent from three percent in 2022. Industries in line with Beijing’s policy priorities, such as healthcare sector, green sectors, consumer market, and sectors related to industrial automation, are expected to be the biggest beneficiaries.
Doing Business in China 2023 covers the following:
- Establishing and Running a Business
- Tax, Audit, and Accounting
- Human Resources and Payroll
- Cybersecurity and Data Protection
Doing Business in India 2023
India defied global trends in 2022 to witness record M&A activity and remains among the fastest growing economies in the world.
Doing Business in India 2023 covers the following topics:
- Human resources and payroll
- India’s investment climate
- Setting up business in India
- Mergers and acquisitions
- Taxation
- Transfer pricing
- Financial reporting and audit
10 New Laws Starting January 1 That May Affect Your Business in China
Multiple new laws and regulations that affect doing business in China came into force on January 1, 2023. Foreign investors and businesses engaging in food and beverage, import and export, new energy vehicles, sports, and financial activities should pay special attention.
Poland: Work-life balance directive
In view of the prevailing trends regarding finding harmony in life and work, the European Union has obliged Member States to introduce into their national legal order a directive, commonly referred to as the work-life balance directive (i.e. Directive (EU) 2019/1158 of the European Parliament and of the Council of 20 June 2019 on work-life balance for parents and carers and repealing Council Directive 2010/18/EU), which aims to introduce work-life balance for workers with children in the Member States – but also to achieve gender equality by promoting women’s participation in the labour market, equal sharing of caring responsibilities between men and women and reducing the gender pay gap.
THE INDO-GERMAN MAGAZINE OCTOBER/DECEMBER 2022
An Introduction to Doing Business in ASEAN 2023
This publication, designed to introduce the fundamentals of investing in ASEAN, was compiled by experts at Dezan Shira & Associates, a specialist foreign direct investment practice, providing corporate establishment, business intelligence, tax advisory and compliance, accounting, payroll, due diligence, and financial review services to multinationals investing in emerging Asia.
An Introduction to Doing Business in ASEAN 2023 covers the following:
- Corporate establishment;
- Tax and accounting;
- Human resources and payroll;
- Audit and compliance.
Vietnam’s HR Landscape, Compliance, and Recruitment – Latest Issue of Vietnam Briefing Magazine
Moving forward, foreign firms operating in Vietnam may need to adjust their HR processes and procedures to meet the demands of this new labor market. They should also be aware of alternative, low-risk ways to access Vietnam’s labor market that can give them an edge entering Southeast Asia.
In this issue of Vietnam Briefing Magazine, Dezan Shira & Associates cover what’s happened to Vietnam’s labor market, employee expectations moving forward, and how foreign firms can go about recruiting staff. It also addresses Global Staffing Solutions and how foreign firms can start operating in Vietnam without putting boots on the ground.
Hungary – Guidelines from Hungary’s Curia on employer’s timesheets
Employers have to keep records of working time. These must be updated on a daily basis and must enable identifying the start and end time of regular and overtime work and stand-by duty. The aim of this obligation is to prove that the rules concerning working time and rest periods are observed in case of inspection by the labour authority or a claim by an employee.
The Guide to Employment Visas for Foreign Workers in Indonesia
Indonesia has introduced new reforms on foreign employment visas through the introduction of the Omnibus Law, also known as Law No. 11 of 2020 on Job Creation.
The recent changes include the introduction of a foreign worker utilization plan — a document that details the specific work, position, and length of employment the foreign employee will undertake in Indonesia.
Further, employers must submit an annual report to the Ministry of Manpower that covers the scope of the foreign worker’s employment, and the types of technology or knowledge transfer being implemented.
Vietnam: Foreign Worker Reports are Due January 5
In December of 2020, the laws pertaining to employing foreign workers changed. Firms employing foreign workers are now required to lodge reports every six months. Here’s what you need to do to satisfy this requirement.
Who should complete a foreign worker report
Any employer, either foreign or domestic, that hires foreign workers with work permits need to complete a foreign worker report.
HR UPDATE: CENTRAL ASIA
Christian Tegethoff, Managing Director, CT Executive Search
A look at the current HR trends in Central Asia:
- What makes Kazakhstan's HR market stand out?
- An overview of Uzbekistan's HR market.
- Top 5 HR trends to look out for.
- Executive search in Central Asia.
What Defines A Good Leader – And Can You Learn To Be One?
Yes, leadership is a talent. But it is also so much more than that. Here are a few pointers on how to develop good leadership – and what it is really about.
- Why is leadership so important?
- What is good leadership?
- How do I find and develop my leadership skills?
