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.

Keywords: Mazars, Vietnam, Payroll, APAC

4 February 2022

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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