Foreign Digital Companies in Thailand soon to pay 7% VAT under Revenue Code Amendment Act (No. 53) B.E 2564
The amendments to the Revenue Code approved by the Thai Cabinet in June 2020 are expected to take effect in September 2021. This means foreign businesses providing digital services in the country that earns more than $57,500 a year will soon be required to pay 7% VAT. This is applicable to service providers in e-commerce platforms, gaming, […]
India’s IT sector sees constant rise in hiring in January
India’s IT sector have seen a remarkable growth in recruitment in metro cities such as Bengaluru, Hyderabad, Pune, and Delhi, an equivalent of more than 50% jobs in the sector in January 2021. Job posting increased by 39% compared to the previous month. Next to the IT sector are BPO with 10% growth and banking with […]
Thailand’s Sophisticated Digital Surveillance System
Thailand has developed one of the most advanced digital surveillance systems in the region. Thai cyberspace has become militarized since the military coup in May 2014, according to Pinkaew Laungaramsri and Wolfram Schaffar. The military’s formation of the cyber warfare unit in 2015 showed the junta’s intent to have a digital authoritarianism. The Thai ministry announced in 2018 the plan to establish […]
Czech diplomat writes on Vietnam’s 4IR strategy
Czech diplomat David Jarkulisch said that the development of Vietnam’s digital economy will open opportunities for Czech companies operating in this sector in Southeast Asia, specifically in cyber security and digital banking. Vietnam’s newly approved strategy on the Fourth Industrial Revolution (4IR) aims to change the current growth model primarily based on use of cheap labor and sets the […]
Private capital funds to spend billions on tech & outsourcing
In the report ‘The future private capital CFO: Evolving in a digital age’, it showed that private capital fund managers will spend billions of dollars in adapting solutions to meet their clients’ expectations for more frequent reporting and other transparency demands. A quarter of the CFOs in the survey said they would invest more on […]
Singapore: MAS revises Technology Risk Management Guidelines
The Monetary Authority of Singapore (MAS) has revised its Technology Risk Management Guidelines 2021 (TRM Guidelines) to match the current trends in technology advancement. The updates were based on the feedback from a 2019 public consultation and discussions with cyber security experts. Many of the expectations were from the TRM Guidelines 2013 edition. The difference is in MAS’ new guidance […]
India projects a 6.4% average salary increase in 2021
A survey by Willis Towers Watson report that salaries in India are projected to increase an average of 6.4% this year which is equivalent to a median increase of 7%. Comparing the forecasted salary increase in the key markets in Asia Pacific this year, it shows Indonesia at 6.5%, China at 6%, Philippines at 5%, Singapore […]
ADB: The Philippines may benefit from new globalization
The Asian Development Bank (ADB) said the Philippines could find significant gains from the current big shift in global trade. While the pandemic disrupted the global economy and trade, Asia must embrace trade liberalization and facilitation efforts so it can reap benefits from economies shifting their supply chain networks. The Philippines’ services sector will likely benefit from the new round of globalization […]
Healthcare IT Outsourcing Market to get a boost from increasing pressure to reduce rising healthcare costs
Healthcare IT outsourcing involves development of systems for billing codes, patient records, remote monitoring systems, and patient monitoring and care. Rapid transformations in the healthcare systems in the US and major European countries are expected to contribute to the growth in healthcare IT outsourcing. Asian countries such as China, India, Indonesia, and Singapore are among […]
Hinduja Global Solutions Q3 net profit grows nearly 6%
India’s Hinduja Global Solution, the BPO arm of Hinduja Group, reported 5.6% increase in its consolidated net profit in the December 2020 quarter despite the pandemic. The company did well in most of its business segments including Healthcare, UK, and HGS digital. The growth has been driven by healthcare business and its operations in UK. […]
