HORIZONTAL COMMITMENTS. ALL SECTORS INCLUDED IN THIS SCHEDULE (3) In China, foreign invested enterprises include foreign capital enterprises 9also referred to as wholly foreign- owned enterprises) and joint venture enterprises and there are two types of joint venture enterprises: equity joint venture and contractual joint ventures.1 The proportion of foreign investment in an equity joint venture shall be no less than 25 per cent of the registered capital of the joint venture. The establishment of branches by foreign enterprises is unbound, unless otherwise indicated in specific sub-sectors, as the laws and regulations on branches of foreign enterprises are under formulation. Representative offices of foreign enterprises are permitted to be (3) Unbound for all the existing subsidies to domestic services suppliers in the sectors of audio- visual, aviation and medical services. Unbound for all the subsidies to domestic services suppliers in any new sector and sub-sector scheduled after China’s Accession to the WTO.
1 The terms of the contract, concluded in accordance with China's laws, regulations and other measures, establishing a "contractual joint venture" govern matters such as the manner of operation and management of the joint venture as well as the investment or other contributions of the joint venture parties. Equity participation by all parties to the contractual joint venture is not required, but is determined pursuant to the joint venture contract. “Foreign invested enterprise” in this schedule means a foreign invested enterprise duly constituted or otherwise organized under “Law on Chinese-Foreign Equity Joint Ventures”, “Law on Chinese-Foreign Contractual Joint Ventures” and “Law on Foreign-Capital Enterprises” .
HORIZONTAL COMMITMENTS. All sectors included in this schedule 3) Commercial Presence of the foreign service provider(s) may be in the form of joint venture and/or representative office, unless mentioned otherwise. Joint venture should meet the following requirements: a) Should be in the form of Limited Liability Enterprise (Perseroan Terbatas/PT), b) Not more than 49% of the capital share of the Limited Liability Enterprise (Perseroan Terbatas/PT), may be owned by foreign partner(s). 3) Land Acquisition Undang-Undang Pokok Agraria (Land Law) No. 5 of 1960 stipulates that no foreigners (juridical and natural persons) are allowed to own land. However, a joint venture enterprise could hold the right for land use (Hak Guna Usaha) and building rights (Hak Guna Bangunan), and they may rent/lease land and property. Any juridical and natural persons should meet professional qualification requirements. Modes of supply : 1) Cross-border supply 2) Consumption abroad 3) Commercial presence Sector or Sub-sector Limitations on Market Access Limitations on National Treatment Additional Commitments
HORIZONTAL COMMITMENTS. ALL SECTORS INCLUDED IN THIS SCHEDULE 3. In the case of the supply of services through commercial presence, only juridical persons of another Party owned and controlled by persons of any Party may benefit from Thailand’s commitments. Unless otherwise specified at the sector- specific level, commercial presence in sectors or subsectors in this schedule is permitted only through a limited liability company which is registered in Thailand and which meets the following conditions: (a) Foreign equity participation must not exceed 49 per cent of the registered capital; and (b) The number of foreign shareholders must be less than half of the total number of shareholders of the company concerned.
HORIZONTAL COMMITMENTS. All Sectors ; For a service supplier of another Party who is natural person of that Party but is not national of that Party in mode 1,2,3,4: unbound
(a) Commercial presence of foreign service suppliers and/or providers are permitted in accordance with Myanmar Companies Act 1914 , Partnership Act 1932, The Special Companies Act 1950, the Foreign Investment Law (2012) and existing Notifications of Myanmar Investment Commission, the Foreign Investment Rules (2013) and Myanmar Citizens’ Investment Law (2013). As stipulated in the Foreign Investment Law (2012), the investment may be carried out in any of the following forms: (i) carrying out an investment by a foreigner with one hundred per cent foreign capital on the business permitted by the Commission; (ii) carrying out a joint venture between a foreigner and a citizen or the relevant Government department and organization; (iii) carrying out by any system contained in the contract which approved by both parties. The proposed investment may be refused subject to such implications as financial arrangements security risk involved and compliance with existing conditions. In forming the form of investment in Myanmar, it shall be formed as company in accord with existing law.
(b) Incorporation of an enterprise, not involving a 3) (a) According to the Notification No. 167/ 2011, Non-Resident Foreigner will be subject to a withholding tax as follows; Class of Income Non-resident foreigner - Interest 15% - Royalties paid for the use 20% of licenses, trademarks, patent rights etc. - Payments of contracts 3.5 % and buying goods within Myanmar and, by the consistent contracts, agreement or any kinds of agreement, performed for State organizations, city development committees, cooperative societies, companies registered and non-government organizations. - Payments of contracts 3.5 % and buying goods inside Myanmar by the consistent contracts or agreement performed for the un-registered foreign entitles and foreign companies.
HORIZONTAL COMMITMENTS. In the table of specific commitments, in the column specifying limitations on national treatment, for mode 3, in paragraph (a), the second sentence, which commences “However, this does not…”, shall not be incorporated into this Agreement.
HORIZONTAL COMMITMENTS. All sectors included in this schedule 1) Borrowing from abroad by banks and enterprises shall be approved by the Bank of the Lao PDR. 2) A resident of Lao PDR who intends to invest directly or indirectly in a foreign country shall be approved by the concerned authorized organizations. The transfer of fund to be invested abroad shall be approved by the Bank of the Lao PDR. Bringing out of the Lao PDR the foreign currency more than 2,000 US$ shall be approved by the Bank of the Lao PDR. 3) Commercial presence of foreign service suppliers can be in the following form: − A joint venture with one or more domestic Lao investors, − A wholly foreign-owned enterprise1 − A branch or representative office The commercial presence of foreign service supplier shall be subject to approval of the concerned competent authority and of licensing by the Foreign Investment Management committee of the Lao PDR. The joint venture is established and registered under the laws and regulations of the Lao PDR. It is jointly owned and operated by one or more legal foreign investors/service 1) As indicated in the market access column.
HORIZONTAL COMMITMENTS. All Sectors; Except for Hong Kong, China which does not have nationals, for a services supplier of another Party who is natural person of that Party but is not national of that Party in mode 1,2,3,4: unbound All Sectors 3)
(a) Commercial presence of foreign service suppliers and/or providers are permitted in accordance with Myanmar Companies Act 1914 , Partnership Act 1932, The Special Companies Act 1950 and the laws amending or replacing such acts, the Myanmar Investment Law (2016), its implementing rules and any notification issued under that law. (b) Incorporation of an enterprise, not involving a state enterprise is to be made under the Myanmar Companies Act 1914. If the investment involves a state enterprise, incorporation 3) (a) According to the Notification No. 51/2017, Non-Resident Foreigner will be subject to a withholding tax as follows; Class of Income - Interest payment for a loan or indebtednes s or a transaction of similar nature or Saving - Royalties for the use of licenses, trademarks, patent rights, etc. Non-resident foreigner 15% 15%
(c) Services activities are restricted under section 3 of the State-owned Economic Enterprises Law (1989). However, these activities may be permitted by Cabinet notification according to the section 4 of the said law. Tax Income Tax exemption for promoted sectors may be granted by Myanmar Investment Commission in accordance with the Myanmar Investment Law (2016) based on zoning system. If it is in zone (1), the income tax exemption - Payment by State Organizatio ns, State Enterprises, Developme nt Committees , co- operative societies, foreign companies, foreign enterprises and organization s, local companies and under an existing law for purchase of goods, work performed or supply of services and hiring within the country under a tender, contract, 2.5% Sector or Sub-sector Limitations on Market Access Limitations on National Treatment Additional Commitments for a period of 7 consecutive years including the year of commencement of business, in zone (2), the income tax exemption for a period of 5 consecutive years including the year of commencement of business, and in zone (3), the income tax exemption for a period of 3 consecutive years including the year of commencement of business. quotation or other modes (other than the services mentioned in above items of this table). According to the 2017 Union Taxation Law, paragraph 23, sub- paragraph (a), in respect of the following kind of taxpayer, before the relief...
HORIZONTAL COMMITMENTS. An asterisk on the CPC(UN provisional Central Product Classification : Statistical Papers Series M No. 77, Department of International Economic and Social Affairs, Statistical Office of the United Nations, New York, 1991) Code number indicates that the corresponding service sub-sector in this schedule only covers a part or parts of the service sub-sector classified under the given CPC code number. Unbound* means unbound due to lack of technical feasibility. ALL SECTORS INCLUDED IN THIS SCHEDULE 3) The acquisition of outstanding stocks of existing domestic companies in such areas as energy and aviation by natural person or juridical persons of another Member may be restricted. The foreign investment in newly privatized companies may be restricted. 3) The acquisition of land is unbound except: (i) that the acquisition of land by companies which are not deemed as foreign under the Alien Land Law is permitted, and (ii) that the acquisition of land by companies which are deemed as foreign under the Alien Land Law and branches of foreign company is permitted, subject to approval or notification in accordance with the Alien Land Law, for the following legitimate business purposes: • land used for supplying services during the course of normal business activities; • land used for housing senior company personnel under pertinent laws; and • land used for fulfilling land-holding 3) Residents who have been treated as foreigners in the Securities Exchange Act are accorded national treatment in portfolio investment in Korean stocks. Sector or Sub-sector Limitations on Market Access Limitations on National Treatment Additional Commitments requirements stipulated by pertinent laws. Eligibility for subsidies, including tax benefits, may be limited to companies which are established in Korea according to the pertinent laws. Unbound for research and development subsidies. 4) Unbound except for measures affecting the entry and temporary stay of natural persons as defined below: 4) Unbound except for measures concerning Intra-corporate Transferees (ICT), Business Visitors (BV), Service Salespersons (SS).
HORIZONTAL COMMITMENTS. All sectors included in this schedule 1) Borrowing from abroad by banks and enterprises shall be approved by the Bank of the Lao PDR.
1) As indicated in the market access column.
2) A resident of Lao PDR who intends to invest directly or indirectly in a foreign country shall be approved by the concerned authorized organizations. The transfer of fund to be invested abroad shall be approved by the Bank of the Lao PDR.
HORIZONTAL COMMITMENTS. All sectors included in this schedule 3) Commercial Presence of the foreign service provider(s) may be in the form of joint venture and/or representative office, unless mentioned otherwise. Joint venture should meet the following requirements: Should be in the form of Limited Liability Enterprise (Perseroan Terbatas/PT), Not more than 49% of the capital share of the Limited Liability Enterprise (Perseroan Terbatas/PT), may be owned by foreign partner(s). 3) Land Acquisition Undang-Undang Pokok Agraria (Land Law) No. 5 of 1960 stipulates that no foreigners (juridical and natural persons) are allowed to own land. However, a joint venture enterprise could hold the right for land use (Hak Guna Usaha) and building rights (Hak Guna Bangunan), and they may rent/lease land and property. Any juridical and natural persons should meet professional qualification requirements.
