APAC payroll newsletter - 2021 Q3

Keywords: Mazars, Vietnam, Payroll, APAC

18 October 2021

Regardless of the size of the company or the nature of the business, it is important to be aware of these changes. When companies don’t comply with such regulations, they face stiff fines and penalties. To help businesses make proper plans to mitigate risks, our APAC payroll newsletter - 2021 Q3 highlights some new laws that impact companies currently operating or planning to expand in the region.

Key highlights:

Australia

• Expanding superannuation reporting via single touch payroll Phase 2
• Definition and entitlements of casual employees

China

• Social contribution base

Hongkong

• Increase in statutory holidays

Indonesia

• Withholding tax Article 21

Japan

• Minimum hourly wages update

Korea

• Implementation of employment insurance for workers with special types of employment
• Mandatory issuance of payslips

Malaysia

• New initiative by Employees Provident Fund (EPF)

Singapore

• Mandatory retrenchment notifications

Thailand

• Reduction in Social Security Fund contribution

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