APAC payroll newsletter - 2021 Q4
Organisations need to observe payroll trends in the region and in specific countries and pay attention to details to do business with confidence. To help business owners get started correctly, Forvis Mazars created the APAC payroll newsletter for 2021 Q4 to highlight some unique payroll requirements for some of the region’s top business destinations, so that organisations can make running payroll a breeze, save time, reduce risks, and get a clear picture of the business.
APAC payroll newsletter - 2021 Q4
Running payroll across APAC is always challenging for international organisations. Organisations need to observe payroll trends in the region and in specific countries, and pay attention to details to do business with confidence. To do the right thing from the start, our APAC payroll newsletter for 2021 Q4 highlights some unique payroll requirements for some of the region’s top business destinations, so that organisations can make running payroll a breeze, save time, reduce risks, and get a clear picture of the business.
Key highlights
- Australia
- Super choice rules for new employees
- Employment in a post lockdown Australia
- China
- Annual one lump sum bonuses extended till end of 2023
- Equity incentives as stock options
- Allowances and subsidies for foreign individuals extended till end of 2023
- Indonesia
- General provisions and tax procedures
- Income tax
- Korea
- Social insurance: change of 2022 rates
- Minimum wage for 2022
- Implementation of ‘Childcare Leave System for Pregnant Women’ and ‘Change of Attendance and Quitting time System’
- Amendments to the enforcement decree of the Labor Standards Act (Enforcement Date: November 19, 2021)
- Normalization of entrance for foreign workers
- Malaysia
- Extension of Employees Provident Fund (“EPF”) minimum statutory contribution rate
- Human Resource Development Corporation (“HRD”) levy resumes
- Wage Subsidy Programme 5.0 (“WSP 5.0”)
- Income tax relief
- Philippines
- SSS releases Circular No. 2021-21, giving better online filing retirement benefit claims using your MY.SSS Portal account
- SSS releases Circular No. 2021-19, providing online filing of Social Security, Sickness Notification, Sickness Benefit, and Sickness Benefit Reimbursement Application through My.SSS Portal in the SSS Website
- Special, regular, and national holidays for 2022
- Taiwan
- Increase in minimum wage
- Thailand
- Financial support to SMEs who retain 95% of their Thai workers
- Vietnam
- Resolution 116/NQ-CP on Covid-19 support
- Official Letter 4102/TCT-CS regarding Personal Income Tax (“PIT”) policy
- Official Letter 4110/TCT-DNNCN on expenses incurred related to the Covid-19 epidemic
- Official letter 10943/BYT-MT guiding on Covid-19 prevention for people who are allowed to enter Vietnam for short-term work (under 14 days)
- Reminder of regulation changes in 2022
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