News

CPF Retirement Sum

15 October 2018, PAYOUTS UNDER CPF RETIREMENT SUM SCHEME – In the 2018 Budget Debate, the topic of CPF contributions for older workers were raised for debate. It was reported that the current rates for such older workers were set in 1988 and were never reviewed. During the debate: It was suggested that the progressively decreasing contribution rates allow private companies to remain...

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Economic Substance Law

Economic Substance Law

1 February 2019 – ECONOMIC SUBSTANCE LAW As at 1 January 2019, certain legal entities carrying on relevant activities are required by the newly effective Economic Substance Law to demonstrate adequate economic substance in the Cayman Islands. Any company, LLC or LLP registered or incorporated in the Cayman Islands should be aware of this legislation and consider how it may be...

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General Data Protection Regulation

General Data Protection Regulation

1 September 2018 (Singapore) – QUICK NOTES ON THE EU GDPR The European Union General Data Protection Regulation (“EU GDPR”) is the EU’s strong response to “new challenges for the protection of personal data”. This response is based on the principle that natural persons should have control of their own personal data and that there should be strong enforcement for the protection of this...

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General Data Protection Regulation

General Data Protection Regulation

16 May 2018 (Singapore) – UPCOMING EUROPEAN UNION (EU) GENERAL DATA PROTECTION REGULATION (GDPR) On 27 April 2016, the European Council and Parliament on 27 April 2016 adopted GDPR, the successor to Directive 95/46EC. The GDPR applies directly in all EU Member States from its effective date, 25 May 2018. It repeals and replaces Directive 95/46EC and Member State implementing...

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Cryptocurrency regulation

Cryptocurrency regulation

14 February 2018 (Singapore) – UPCOMING SINGAPORE PAYMENT SERVICES BILL Written by Winston Wong and Misa Mitsugi, Flint & Battery LLC At present, the Monetary Authority of Singapore (“MAS”) regulates various types of payment services under two pieces of legislation – the Payment Systems (Oversight) Act (Cap. 222A) (“PS(O)A”) and the Money-Changing and Remittance Businesses Act...

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IP Mediation in Singapore and India

IP Mediation in Singapore and India

22 January 2018 (Singapore, India) – INTELLECTUAL PROPERTY MEDIATION IN SINGAPORE AND INDIA (by Francois Vieillescazes, Flint & Battery LLC, co-written with Dr. Sheetal Vohra, Managing Director of Vohra & Vohra, New Delhi) INTRODUCTION Mediation is a dispute resolution mechanism whereby a neutral third party, the Mediator, will help the parties to the dispute to reach an amicable...

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Dhaka, Bangladesh

Dhaka, Bangladesh

2 November 2016 (Dhaka, Bangladesh) – Flint & Battery International Law Practice (www.flintbattery.com) announced on 2 November 2016 the addition of SLB, Shipping Lawyers Bangladesh, a Law Firm located in Dhaka, Bangladesh (http://shiplawbd.com/). With its addition,Flint & Battery comprises 7 international offices in Bangkok, Bangladesh, Jakarta, London, Paris, Perth and...

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Indonesian Tax Amnesty 2016

Indonesian Tax Amnesty 2016

20 July 2016 (Singapore) – Indonesian Tax Amnesty Scheme Indonesia’s new tax amnesty scheme takes effect from 18 July 2016. The scheme is targeted at recovering billions of dollars that have been lost due to tax evasion by encouraging wealthy individuals and businesses that have hidden their assets abroad to declare their wealth. THE SCHEME • It is a 9 month programme that will end...

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Foreign Investments, Jakarta

Foreign Investments, Jakarta

11 June 2016 (Jakarta, Indonesia) – FOREIGN INVESTMENTS IN JAKARTA, NEW NEGATIVE LIST 2016 (REG 44 OF 2016) OVERVIEW The President of the Republic of Indonesia has signed a Presidential Regulation No. 44 of 2016 on the List of Business Fields Closed to Investment and Business Fields Conditionally Open for Investment, otherwise known as the Negative Investment List (“New Negative List”)...

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