How do energy companies reduce costs and comply with international tax and labor laws?
Company Y’s Challenge Company Y, a Fortune 500 leader in the oil and gas industry with a global presence, faced significant logistical challenges. Like many energy firms, Company Y worked on numerous projects worldwide with uncertain project durations. As such, they needed to relocate 300+ experts to the Philippines for three months, South Korea for […]
How do energy companies maximize profitability and ensure compliance in a new jurisdiction?
Company X’s Challenge Company X, a renewable energy startup from Europe founded in 2017, sought to expand globally. Unlike many companies with a clear five-year international expansion plan, energy firms often face unpredictable project lengths and manpower needs. Company X was no exception. Company X aimed to expand into Japan and successfully secured a bid. […]
United Arab Emirates (UAE) Statutory Updates 2024
Here are the United Arab Emirates (UAE) statutory updates for 2024. Effective October 2024 Stricter Penalties for Violating the Emiratization Requirements The UAE government has raised the administrative fines for breaking rules pertaining to Emiratization to AED 8,000 per month, with an additional AED 1,000 increase per year. 7,000 AED a month previously. Source: Fragomen […]
India Statutory Updates 2024
Here are India’s statutory updates for 2024. Effective July 2024 Fast Track Immigration launched for Indian Nationals and Foreign Nationals with Overseas Citizen of India cards Indian authorities have announced the launch of a new Fast Track Immigration — Trusted Traveler Program (FTI-TTP) for Indian nationals and foreign nationals with Overseas Citizen of India (OCI) […]
Thailand Statutory Updates 2024
Here are Thailand’s statutory updates for 2024. Effective July 2024 Increased Tax Exemption for Severance Pay The personal income tax exemption amount on severance pay for terminated employees is now increased to the employee’s last 400 days’ wages or THB 600,000, whichever is less. The new tax exemption shall be applicable to assessable income received […]
Pakistan Statutory Updates 2024
Here are Pakistan’s statutory updates for 2024. Effective July 2024 Monthly Contribution towards Employees’ Old-Age Benefits and Minimum Wage Increases In the Budget 2024–2025, the Pakistani government announced raising the minimum wage for unskilled workers from PKR 32,000 to PKR 37,000 per month in all provinces—Punjab, Sindh, Balochistan, Khyber Pakhtunkhwa, and the Islamabad Capital Territory […]
Bangladesh Statutory Updates 2024
Here are Bangladesh’s statutory updates for 2024. Effective July 2024 Changes in Income Tax Slabs Tax slabs for the assessment year of 2025-2026 (financial year 2024-25) have been updated as per the latest Finance Act: Effective for the assessment year of 2025-2026 (Income year of 2024-2025) Income Slab (in Taka) Rate On first 350,000 (male) […]
Israel Statutory Updates 2024
Here are Israel’s statutory updates for 2024. Effective July 2024 Electronic Travel Authorization for all Foreign Nationals Starting August 1, 2024, the Israeli Ministry of Interior will require all visa-exempt nationals to obtain a valid Electronic Travel Authorization (ETA-IL), known as “Marom ETA-IL,” through an online portal. Applications for this authorization will be accepted beginning […]
Australia Statutory Updates 2024
Here are Australia’s statutory updates for 2024. 2026 Changes to Superannuation Superannuation is currently paid at least quarterly. However, starting from July 1, 2026, it is proposed that employers will be required to pay their employees’ superannuation concurrently with their wages. This change will allow employees to monitor their entitlements more effectively, ensuring timely and […]
United Kingdom Statutory Updates 2024
Here are UK’s statutory updates for 2024. Effective April 2024 Increase of the Minimum Salary Threshold for Skilled Workers From 4 April 2024, The general salary threshold will be raised from £26,200 to £38,700. For Health and Care Workers, the general salary threshold will be increased from £26,200 to £29,000. Skilled Workers who are already […]
