​Country Brief
Thailand is a country centrally located in Southeast Asia (SEA). It is the second largest economy in SEA after Indonesia, with approximately the same land area as Spain or France. The country’s national capital is Bangkok, or as it is officially known in Thai as Krung Thep Maha Nakhon. It is the only cosmopolitan city in a country of small towns and villages and is the country’s chief port, cultural and commercial centre.

Myanmar’s volatile political and economic environment have left many foreign businesses looking to enter the market to put their plans on hold, while those already operating in the country wondering what to do. Nevertheless, Myanmar is still an attractive country for foreign investments for a variety of reasons, including an economy that still holds untapped potential in various sectors.
 
If you have an existing business, it is important for you to prevent and mitigate any harm linked to your business activity. Sanctions have been imposed and as some of these control specific supply chains which may impact your business, here are some options you can consider.

In Singapore, data security and protection is governed by the Personal Data Protection Act 2012 (PDPA). The PDPA is administered and enforced by the Personal Data Protection Commission (PDPC). The Act came into effect in 2014 and clearly addresses the collection, use and disclosure of personal data legitimately.

​The Myanmar government has issued the 2020 Union Tax Law (“2020 UTL”) on 2 September 2020, which provides the latest tax rates for income tax, commercial tax, specific goods tax and gem stone tax. The 2020 UTL will be effective on 1 October 2020, at the start of the new financial year (1 October 2020 to 30 September 2021).

To uphold Singapore’s reputation as a trusted financial hub that is align with international standards, the Companies Act (CA) has been amended to require all companies incorporated in Singapore (unless exempted) to maintain a Register of Registrable Controllers (RORC). Enforced by Accounting and Corporate Regulatory Authority (ACRA), the RORC is made mandatory for all companies from 31 March 2017.
 
The aim of this is to make both the ownership and control of corporate entities more transparent, and restrict the misuse of corporate entities for unlawful purposes such as money laundering. More information about the definitions of controllers and what information is collected in the RORC can be found in our blog post: What Your need to know about the Register of Registrable Controllers and Register of Nominee Directors.

Myanmar’s economy and businesses, like many around the world have been impacted by the COVID-19 pandemic. In view of the impacts, the Myanmar government has introduced various measures intended to provide relief to the affected businesses. Businesses in Myanmar should consider the various financing options and tax reliefs that may be applicable to them, while at the same time to consider the accompanying conditions attached to these respective measures.

This blog post will highlight the measures introduced by the Myanmar government. This information is accurate as of 16 Jun 2020. However, because of the evolving pandemic situation, this information may not reflect the most updated developments. We encourage you to contact the relevant authorities from time to time for the latest updates.
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The Singapore government has introduced various financing support, tax and other temporary relief measures in light of the COVID-19 pandemic, with the aim to help Singapore businesses survive through this difficult time.
 
Some of these measures announced during the Unity Budget by the Finance Minister have already been shared in our previous blog post: #SGBUDGET2020 – What Singapore Companies Need to Know. 
 
Since then, additional measures were announced in the supplementary Resilience and Solidarity Budgets. You may refer to a summary of the Key COVID-19 Measures for Individuals and Households / Key COVID-19 Measures for Businesses and Self-Employed (updated as of 6 May 2020) from the Singapore Budget website here.
 
This blog post will highlight the measures relating to filing deadlines and tax reliefs in response to COVID-19. This information is accurate as of 19 May 2020. However, due to the fluidity of the situation, this info may not always reflect the most updated developments. We encourage you to visit the websites of relevant authorities from time to time for the latest updates.