Our weekly round up of other news affecting foreign investors throughout Asia.
The Philippines and China signed six bilateral agreements, further cementing the Philippines-China relationship. The agreements covered infrastructure, trade, customs, and communications.
China is fast becoming one of the Philippines’ largest trading partners.
Taxpayers in India who missed their deadline to file their tax returns in August this year are advised to do so by December 31, 2019 or incur harsher penalties.
In moves that echo Russia’s desire to promote alternative payment systems to American networks such as SWIFT, transactions between Russia and Tajikistan via Western Union, one of the largest regional operators, have been banned. Western Union is a US-owned money transfer system, and is a major operator in Central Asia.
The Belt and Road International Lawyers Association (BRILA) has been launched by the All China Lawyers Association – China’s equivalent to the Bar. The aim of BRILA is to promote legal cooperation among countries and regions involved in the Belt and Road Initiative.
Vietnam’s National Assembly approved a new Labor Code which will take effect in January 2021. The amended code offers greater protection for employees and is viewed as better aligned with international best practices.
Businesses should review their labor practices and prepare themselves to be compliant when the labor code takes effect.
China Briefing is written and produced by Dezan Shira & Associates. The practice assists foreign investors into China and has done since 1992 through offices in Beijing, Tianjin, Dalian, Qingdao, Shanghai, Hangzhou, Ningbo, Suzhou, Guangzhou, Dongguan, Zhongshan, Shenzhen, and Hong Kong. Please contact the firm for assistance in China at email@example.com.
We also maintain offices assisting foreign investors in Vietnam, Indonesia, Singapore, The Philippines, Malaysia, and Thailand in addition to our practices in India and Russia and our trade research facilities along the Belt & Road Initiative.
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