APAC Payroll newsletter Issue 1/2024

Managing global payroll across multiple countries can be challenging for many businesses.

You may face different payment dates and deadlines, local rules and regulations, types of deductions, frequency of payments, and a variety of reporting requirements. It can also be problematic and inefficient using multiple local providers and hiring specialists in countries to service only a few employees.

Key highlights:


  • Fair Work Act 2009 & international remote workers
  • Sexual harassment is a risk for your business


  • Legal holidays 2024 in Mainland China
  • New process of the social insurance declaration and payment in Shanghai and Beijing
  • Tax filling calendar 2024 in Mainland China

Hong Kong

  • Increase of Statutory Holiday in Hong Kong in 2024


  • New tax rule on Article 21 Income Tax Withholding Rates on Individual Taxpayers


  • Change of Health/Care Insurance Premiums (provided by Japan Health Insurance Association)
  • Change of Individual income taxation
  • Change of minimum employment rate of Employees with disabilities required by law


  • Extension of application period for special Flat tax rate for foreign workers
  • Expansion of income tax deduction for interest payments on long-term mortgage loans
  • Increased income limits and tax credit ceiling for monthly rent tax credit


  • Update for Employer on Submission of Form E


  • PAG-IBIG increases the Maximum Fund Salary and shares new monthly contribution rates in the Philippines
  • PhilHealth Payroll Contribution Rates 2024


  • Changes to CPF Ordinary Wage ceiling
  • Increase in CPF Contribution rates for employees between 55 and 70 years of age with effect from 1 January 2024


  • The increase of minimum wage in Taiwan
  • New Personal Tax Deduction effective January 2024


  • Tax exemption for individuals investing in the Thailand
  • ESG Fund A tax deduction of up to THB 50,000 for individual taxpayers
  • Deadline extended for the electronic payment of Social Security contributions
  • New minimum wage effective 1 January 2024


  • Official Letter No. 4502/ CTBNI-TTHT guiding the case of foreigners arriving in Vietnam before the job-commencing date
  • Official Letter No. 6002/TCT-DNNCN regarding personal income tax policy for compulsory insurance paid abroad