Vietnam Labor Code, Philippines-China Agreements – China Outbound

December 13, 2019 Posted by China Briefing Reading Time: 2 minutes

Our weekly round up of other news affecting foreign investors throughout Asia.

Philippines and China Sign Six Agreements

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.

Filing Late Tax Returns in India: Penalty and Deadline for AY 2019-20

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.

Western Union Payment System Being Removed from Russia-Central Asian Transactions

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.

SILK ROAD BRIEFING

Belt and Road International Lawyers Association Launched

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 BRIEFING

Vietnam Approves Labor Code for 2021

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 china@dezshira.com.

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