2023-01-30

China to Extend Preferential Individual Income Tax Policies

Dezan Shira & Associates

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.

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2023-01-19

Singapore Implements New Scheme to Help Businesses Hire Foreign Workers

Dezan Shira & Associates

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. 

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2023-01-19

5 Key Industries to Watch in China in 2023

Dezan Shira & Associates

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.

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2023-01-09

Dubai’s DMCC Free Trade Zone Attracts Over 3,000 New Investors in 2022

Dezan Shira & Associates

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.

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2023-01-08

Doing Business in China 2023

Dezan Shira & Associates

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

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2023-01-06

Doing Business in India 2023

Dezan Shira & Associates

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

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2023-01-05

10 New Laws Starting January 1 That May Affect Your Business in China

Dezan Shira & Associates

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. 

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2023-01-03

Poland: Work-life balance directive

bnt attorneys in CEE

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.

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2022-12-31

THE INDO-GERMAN MAGAZINE OCTOBER/DECEMBER 2022

An AHK India publication

The Indo-German Economy contains all the information about the latest trends and developments in Indo-German cooperation as well as the various activities and initiatives of the Chamber in India

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2022-12-30

An Introduction to Doing Business in ASEAN 2023

Dezan Shira & Associates

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.

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2022-12-22

Vietnam’s HR Landscape, Compliance, and Recruitment – Latest Issue of Vietnam Briefing Magazine

Dezan Shira & Associates

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.

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2022-12-15

Hungary – Guidelines from Hungary’s Curia on employer’s timesheets

bnt attorneys in CEE

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.

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2022-12-11

The Guide to Employment Visas for Foreign Workers in Indonesia

 

Dezan Shira & Associates

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.

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2022-12-10

Vietnam: Foreign Worker Reports are Due January 5

Dezan Shira & Associates

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.

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2022-12-01

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.

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2022-11-29

What Defines A Good Leader – And Can You Learn To Be One?

Nordic Minds

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?

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2022-11-25

How To Gain Clarity About Your Career Needs

Nordic Minds

Finding the right person for the job – and the right job for a person – is a bit like match-making. Work has to do with purpose, it's personal. This is why you can only thrive in an organization that’s right for you. And how do you find that? By understanding your career needs and communicating them.

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2022-11-24

New Rules, New Players – Uzbekistan

CT Executive Search Press Release

As the rules of international business change, new players emerge.

According to the Asian Development Bank, Uzbekistan's GDP is expected to grow by 4.0% in 2022 and 5.0% in 2023. The country is also one of the biggest producers of gold, with substantial deposits of silver, strategic minerals, gas, and oil.

So, what opportunities lie in wait for European investors, and how will the country’s economy and job market evolve in the coming years?

These are the questions that were addressed at the webinar titled “Uzbekistan – An Overview Of The Economy, Investment And Labour Market”, organised by CT Executive Search, in collaboration with AHK Central Asia.

“New players have indeed emerged on the global market. As Uzbekistan gains more attention, we have received an increase in the number of requests to recruit candidates to top management positions of companies currently setting up active operations in the production, agricultural, IT and manufacturing sectors.  For qualified candidates interested in executive positions, this is definitely a market to now consider – the salaries are competitive. Our highly qualified and experienced team of HR experts is always ready to provide high quality recruitment services to all companies looking to do business in Uzbekistan.” - says Christian Tegethoff, Managing Director, CT Executive Search.   

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2022-11-15

Slovakia: Labour Code amendment that will affect every employer

 

bnt attorneys in CEE

Extensive employer information duty and other important changes from 1 November 2022.

Slovakia's Labour Code amendment primarily aims to implement two European Directives (No 2019/1152 and No 2019/1158).

The amendment introduces many changes to the Labour Code, but the most important is the new information duty of employers, which must be fulfilled in a rather broad scope. Employers are now obliged to provide employees with written information on working conditions and terms and conditions of employment. 

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2022-11-15

Hong Kong’s New Visa and Property Tax Regulations to Attract Foreign Talents

Dezan Shira & Associates

Hong Kong is lowering property taxes and relaxing visa requirements for non-permanent residents to draw in international talent and resurrect the city’s reputation as a global financial center. The new measures address the current workforce shortage while simultaneously developing the local talent base and closing the skills gap.

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2022-11-10

Romania: Substantial amendments to the Romanian Labour Code

bnt attorneys in CEE

Romania's Labour Code has been amended following the transposition into national law of a series of European Directives.

Among the most important amendments:

  • New mandatory provisions are to be included in individual employment contracts.
  • With regard to the existing right of employees to work for different employers under different employment contracts, the lawmaker now requires that their working hours cannot overlap.
  • A prohibition on establishing a new probation period if, within 12 months, a new individual employment contract is concluded between the same parties for the same position and with the same duties.

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2022-11-07

CENTRAL ASIA HAS MOVED UP THE PRIORITY LIST

Christian Tegethoff, Managing Director, CT Executive Search

In terms of recruitment, what kind of assignments are you mandated with in Uzbekistan?

For most of our clients, Uzbekistan is primarily interesting as an export destination. The country is a major buyer of agricultural technology and also offers potential for a range of other consumer and capital goods.

Accordingly, our customers with business connections to Uzbekistan mainly pursue sales and service activities, the construction of production plants is still the exception. However, we expect that Uzbekistan, with its almost 35 million inhabitants and a favorable geographic location, will become a more important production location for the European economy in the future.

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2022-11-07

The west is a prefered economic partner in Uzbekistan

Hovsep Voskanyan, Delegate of German Business in Central Asia (AHK Central Asia)

How is the German economy represented in Uzbekistan today?

We have around 225 German companies on site, and their number is growing slowly but surely. Most maintain sales offices. But there is also a significant number of German companies currently investing in the region, among which are Knauf with its three plants in the building materials sector, Lemken and Claas in the agricultural technology sector, Volkswagen and MAN with production in Bukhara. Deutsche Kabel AG operates a plant in Tashkent and recently opened another location where fiber optic cables are produced.

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2022-11-05

Cambodia Opens Foreign Employee Quota Application for 2023

Dezan Shira & Associates

Cambodia has opened the foreign employee quota application for businesses for 2023. Businesses that want to hire a foreign employee must apply for this quota before obtaining a work permit for the employee.

Under the quota system, only 10 percent of a Cambodian company’s total workforce can be foreign nationals. The deadline for the foreign employee quota application ends at the end of November 2022.

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2022-11-04

Uzbekistan: A LOT HAS BEEN DONE IN THE LAST FIVE YEARS

Falk Porsche, Owner and shareholder, Falk Porsche Technik GmbH and Deutsche Kabel AG

What would you recommend to an international company interested in the Uzbek market?

The global production and supply chains are being redefined today due to the changing geopolitical situation. Entrepreneurs are looking for alternative suppliers and growing markets. We are ready to share our experience with regard to investment in Uzbekistan. This applies in particular to copper and glass fiber products, as well as various steel wire products.

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