Consumer spending peaks in the last quarter of every year—a time that coincides with the holiday season and end-of-year bonus payouts. It is also during this time that the greatest number of counterfeit goods are imported into Thailand for sale to consumers, and it is a busy time of year for Customs officials, who are responsible for preventing these illegal activities.

Five years ago, Thailand’s Department of Intellectual Property (DIP) was in the process of considering proposed amendments to the Patent Act. These discussions were then put on hold, and the process has remained suspended until now.On January 27, 2016, the DIP announced that it will be revisiting the proposed amendments with a focus on the following objectives:

Muhammad Yunus, the founder of Grameen Bank and a Nobel Peace Prize laureate, once observed that “credit markets were originally created to serve human needs; to provide businesses and individuals with capital to start or expand businesses or expand other financial needs.” In other words, without access to credit, many businesses that could prosper and make significant economic and social contributions would not flourish.

Myanmar is entering a new chapter in its commercial arbitration history—on January 5, 2016, the country enacted a new Arbitration Law (Pyihtaungsu Hluttaw Law No. 5, 2016), reforming its domestic legislation to meet its obligations under the Convention on the Recognition and Enforcement of Foreign Arbitral Awards 1958 (New York Convention). The Arbitration Law of 2016 supersedes Myanmar’s Arbitration Act of 1944, which failed to garner support from the international community and struggled to establish reciprocal arbitration arrangements with other countries.

On February 4, 2016, Vietnam and 11 other countries signed the Trans-Pacific Partnership (TPP). The TPP includes Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, the United States, Vietnam, and Singapore. According to the World Bank, the TPP represents 36 percent of global GDP and more than 25 percent of world trade. Assuming that the treaty is ratified by its various participants, it will significantly impact business in Asia.

There are three tiers of courts in Thailand—the courts of first instance (Civil Court, District Court, Provincial Court, and other specialized courts), appeal courts, and the Supreme Court (Dika Court or Sarn-Dika). Thai law traditionally has allowed parties to appeal any court of first instance decision to the appeal courts and subsequently the latter’s decision to the Supreme Court. The Supreme Court’s judgment (referred to as the Dika) is final.

If you have existing contracts or are contemplating execution of new contracts in Myanmar, you should be aware of a recent announcement made by the Internal Revenue Department (IRD). The announcement addresses the requirement that a contracting party affix proof of paid stamp duty to all dutiable contracts made within Myanmar in accordance with the Myanmar Stamp Act.

Cambodia has introduced a new law and subsequent regulations which categorize all taxpayers into one of three classes based on criteria relating to their size. Each class has a different annual patent tax (a type of annual business registration tax), which is payable on every business activity of the company. The classes and criteria, as well as their fees, are set out in the following table: