This session features key insights and practical aspects of import and export regulatory and compliance updates in Thailand. Speakers also discuss recent precedential customs cases, including FTAs updates, export control updates, customs audit trends in Thailand and recent precedential customs cases and practices.
On February 23, 2022, the Prime Minister of Japan, Fumio Kishida, made an announcement that Japan will implement a set of economic sanctions against Russia and the so-called Donetsk People’s Republic and Luhansk People’s Republic in eastern Ukraine.
Japan has condemned the latest Russian move of recognizing the break-away areas as a violation of the sovereignty and territorial integrity of Ukraine as well as international law.
Consistent with the Australian Foreign Minister’s announcement on 22 February 2022, the Prime Minister on 23 February 2022 announced that Australia is working on imposing additional sanctions measures on Russia that are aligned with those that the US and UK have announced.
Our Tax Partner Thanh Vinh Nguyen authored the Vietnam chapter of The Inward Investment and International Taxation Review — a practical overview of the business tax regimes in key jurisdictions worldwide, with a focus on the implications for international organisations seeking to expand into new markets.
The Ministry of Industry and Trade has recently published the draft law on Protection of Consumers’ Rights. The Draft Law includes a number of proposed changes to the existing product liability and consumer protection framework. If adopted, the Draft Law may have major impacts on the business of companies whose products are produced or sold in Vietnam complying with new requirements under the Draft Law. The MOIT is gathering public comments on the Draft Law until 10 March 2022.
On 3 February 2022, the Congress’ Bicameral Conference Committee approved a final version of the Bill that seeks to amend the Public Service Act with a view to limiting the foreign equity restrictions imposed by the Philippine Constitution on ‘public utilities.’
On 4 February 2022, the Dubai International Financial Centre Office of the Commissioner of Data Protection announced that the commissioner issued an adequacy decision recognising, among others, Singapore’s Personal Data Protection Act for safe data transfers from the DIFC. This is a welcome development as it facilitates cross-border personal data transfers from the DIFC to Singapore, which can in turn strengthen business ties between the two territories.
A company was charged with manufacturing more than 430,000 three-ply surgical masks between October 2020 and April 2021 without a valid manufacturer’s licence. The company, which indicated on its website that it locally manufactures “medical grade surgical masks”, is set to plead guilty to the charges.
The Singapore Association of Pharmaceutical Industries Code of Conduct was amended to provide clearer guidelines on the offering of educational materials and items of medical utility to Healthcare Professionals, and the initiation of donations to charitable organisations or institutions.
On 28 January 2022, the Japan Fair Trade Commission published a report warning that setting offering prices for startup companies without sufficient explanation or reasonable grounds may give rise to concerns under the Japanese Anti-Monopoly Act. Given the authority’s close scrutiny of such transactions, securities companies involved in initial public offerings are strongly advised to review their offering price-setting processes, including whether sufficient discussions have been held with the startup companies, to ensure that they are not setting prices unilaterally.