The Australian Securities and Investments Commission has provided updated guidance on the updated breach reporting regime applicable to Australian Financial Services Licensees and Credit Licensees. ASIC’s updated guidance is set out in a new version of Regulatory Guide 78, ‘Breach Reporting by AFS Licensees and Credit Licensees’ (RG 78), published 27 April 2023.
The Department of Labor and Employment recently issued Department Order No. 238, Series of 2023 or the “Rules on the Administration and Enforcement of Labor Standards pursuant to Article 128 of the Labor Code of the Philippines, as renumbered, and Republic Act No. 11058” (“DO 238-23”). DO 238-23 aims to strengthen the visitorial and enforcement power of the Secretary of Labor and Employment to ensure and maintain higher levels of compliance with respect to general labor standards, occupational safety and health standards, and other social legislations among various establishments across different industries.
On 12 April 2023, China’s regulators on cybersecurity and product standardization, including the Cyberspace Administration of China, Ministry of Industry and Information Technology, Ministry of Public Security, Ministry of Finance and the China National Certification and Accreditation Administration, jointly published a Circular to announce changes to the licensing regimes for network products distributed in the Chinese market.
In the second episode of our Digital Transformation in the Healthcare Industry series, the Healthcare and Life Sciences team at Baker McKenzie brings us up to date with the current laws and regulations relating to telemedicine and telepharmacy in Thailand and associated issues.
On 31 March 2023, the Australian government released draft legislation and an explanatory memorandum regarding a new anti-avoidance measure, which prevents large multinational enterprises from claiming tax deductions for payments relating to intangibles “connected with low corporate tax jurisdictions.”
As a general rule on customs valuation, there are certain types of costs that should be added to the customs value. But sometimes the costs cannot be determined at the time of import (or at the time of import declaration). Thus, in 2016 the Indonesian Minister of Finance (MOF) issued MOF Regulation No. 67/PMK.04/2016 on Voluntary Declaration of Customs Value for Import Duty Calculation (“MOF Regulation 67”), which introduced ways to declare and pay those costs in the form of a voluntary declaration and voluntary payment mechanism. To provide legal certainty and improve compliance in relation to the mechanism of voluntary declaration and voluntary payment of customs value, the MOF issued a new regulation on voluntary declaration and voluntary payment, i.e., MOF Regulation No. 201/PMK.04/2020 (“MOF Regulation 201”), which came into force on 16 February 2021, and revoked MOF Regulation 67.
On 28 April 2023, the Occupational Safety and Occupational Health Legislation (Miscellaneous Amendments) Ordinance 2023 took effect upon gazettal. Employers who breach the statutory occupational safety and health requirements in Hong Kong will now be subject to significantly higher fines and imprisonment for up to two years.
Following the passing of a suite of legislations, sales tax at the rate of 10% will be imposed…
Baker McKenzie’s Asia Pacific Employers’ Forum took place in Singapore on Thursday, 27 April 2023. You can access a number of related resources relating to employment issues and trends.
This event will be held on Wednesday, 24 May 2023 from 14:30-16:00 hrs. (Bangkok time) via Zoom and YouTube Live. This exclusive webinar presented by our professionals will explore: (i) overview of the legal issues surrounding digital onboarding process, (ii) key concepts of the Anti-Money Laundering / Countering the Financing of Terrorism (AML/CFT) laws and specific regulations governing digital onboarding, (iii) key concepts of technology laws and regulations relating to digital onboarding, and (iv) case study: an end-to-end flow of the digital onboarding process for FinTech businesses. The webinar will be conducted in Thai.