Dear Customers. Financial Service Bureau has announced updates on the Macau tax fixed deduction rate effective from January 1, 2021. The fixed deduction rate in 2021 has been changed from 30% to 25%. Refer to the latest Tax Calculator for 2021: link For any further information, please feel free to contact us if you have […]
Dear Customers. Please be informed of Korea’s Statutory Update for the minimum wage effective from 1st January 2021. Minimum wage will be updated as below: Please find more information via from Government website’s link. For any further information, please feel free to contact us if you have any question.
Dear Customers. Please find below notice for the statutory adjustments in January in China for your reference. The policy of “Medium-sized, small and micro enterprises will be auto exempted from the three types of social insurance company contributions (pension insurance, unemployment insurance and work-related injuries insurance)” was in effect until December 2020, and will go […]
Dear Customers. This is to inform that there is an announcement to revise Thailand Public Holidays 2021. The Bank of Thailand announces the substitution of financial institutions and Special Financial Institutions (SFIs)’ holidays for B.E. 2564 (2021) and additional special holiday as follows; 1. The cancellation of the public holidays on 25th October 2021 (Substitution […]
Dear Customers. Please be informed of Korea’s Statutory Update for the Health Insurance Rate effective from 1st January 2021. Insurance Percentage will be updated as below: Refer to this link for more information. For any further information, please feel free to contact us if you have any question.
Dear Customers. This is to inform that there is a change on the Social Security contribution rate with following details: 1) The rate that is changing is for payroll of January 2021 – March 2021 2) The new Employer Social Security contribution rate is 3% (the current rate is 5%) 3) The new Employee Social […]
Dear Customers. On 4th Dec 2020 , China State Administration of Taxation made the No.19, 2020 announcement regarding Individual Income Tax (IIT) withholding calculation optimization for particular individual residents in order to further support stable employment. Effective from 1st January 2021, there will be calculation changes for those two types of employees as below. 1. […]
Dear Customers. This is to inform that Thai government announce to cancel Government Public holiday on 7th Dec 20 but still remain the Special Public holiday on 11th Dec 20 for boosting the country’s tourism industry purpose. Bank of Thailand still remain the Public holiday for both 7th Dec 2020 and 11th Dec 2020 as […]
Dear Customers. With reference to the Government’s announcement on the Budget 2021, the Employee Provident Fund (EPF) has clarified that employee EPF contribution rate will be reduced from 11% to 9% effective 1st January 2021. The new rate of 9% is applicable from January 2021’s wage (February 2021’s contribution) until December 2021’s wage (January’s 2022 […]
Dear Customers. Please be advised that the maternity leave has been extended from 10 weeks to 14 weeks with effect on 11 December 2020. The Amendment Ordinance seeks to increase the maternity leave (ML) under the Employment Ordinance (EO) (Cap. 57) by four weeks, to be taken by the employee continuously after the 10 weeks’ […]