Myanmar Tax Update: Myanmar IRD to Implement Integrated Tax Administration System Starting FY 2019-2020

Reading Time: 2 minutesThe Myanmar Internal Revenue Department (“IRD”) recently issued a notice with regard to the implementation of the Integrated Tax Administration System (“ITAS”). This is an electronic system that aims to modernize tax administration procedures in Myanmar starting FY 2019-2020. The aim of the ITAS is to implement an electronic-based system that will administer the tax […]

HONG KONG: A US short-seller was held liable for disseminating a false online research report about a Hong Kong listed company

Reading Time: 6 minutesIntroduction A US short-seller, Mr Andrew Left (“Mr Left”) of Citron Research, was held liable by the Market Misconduct Tribunal (“MMT”) in August 2016 for publishing false or misleading market information about Evergrande Real Estate Group Limited (“Evergrande”) (Stock Code: 3333). In February 2019, the Court of Appeal (the “CA”) dismissed Mr Left’s appeal against […]

Vietnam: When subsidiaries go bankrupt – can creditors “seek compensation” from parent companies?

Reading Time: 6 minutesIt is normal and recommended to allow a subsidiary which operates ineffectively and falls into insolvency to go bankrupt for the sake of a healthy business environment. However, except for subsidiaries which are only the front companies to conceal non-transparent or illegal business activities of parent companies, the bankruptcy of an enterprise causes losses to […]

Copyright in Singapore broken down and explained

Reading Time: 7 minutesCopyright refers to the bundle of rights that is granted by the Copyright Act[1] in respect of original works and other subject-matter for limited periods of time and subject to certain permitted exceptions.[2] So what does copyright protect, and do you need a lawyer to register your Copyright? Copyright can be used to protect works […]

The law on demotions in Hong Kong

Reading Time: 3 minutesA demotion normally involves a reduction in rank or status, or a decrease in job responsibilities and/or salary. An employer may wish to demote an employee for a variety of reasons including poor performance, capability and/or as an alternative to termination. Regardless of the reason for the demotion, an employer should be careful when demoting […]

How does an escrow account work in Singapore?  

Reading Time: 5 minutesIn Singapore, escrow accounts are used predominantly by solicitors in conveyancing transactions to control the flow of funds during various stages of the transaction. This article will look at the role of escrow accounts in conveyancing and the other purposes escrow accounts can serve. By understanding what the term means, you can better navigate and […]

Vietnam: May the buffalo sue the tractor?

Reading Time: 5 minutesThe panel hearing the case between Vinasun and Grab appears to be taking the more prudent approach before giving a ruling. It has adjourned the first-instance hearing until 22/11/2018; to have more time to verify and collect evidence before providing its conclusion regarding the alleged VND41 billion damage suffered by Vinasun. However, whatever the result […]

Thailand Tax Alert: Thailand Moves to Revoke ROH, IHQ and ITC Tax Incentive Programs

Reading Time: 2 minutesIn compliance with the obligations to implement OECD/BEPS reforms, Thailand’s Cabinet has just announced the complete cancellation of all tax benefits granted under three longstanding and significant BOI incentive programs: Regional Headquarters (ROHs), International Headquarters (IHQs), and International Trade Centers (ITCs). According to the attached translation of the official announcement, all tax incentives granted under these programs […]

Identity theft: What can you do? What does it mean to have your identity taken?

Reading Time: 5 minutesA recent survey by cyber security company McAfee found that only one in three Singaporeans ranked protecting their identity as their top cyber security priority. In today’s age of technology, people have become all the more vulnerable to cybercrimes, with identity theft being especially prevalent. Anyone can be a victim of identity theft, yet so […]