Blog

July 2015

July 23,2015

Employee accidents during Hoisting of Tropical Cyclone defined as work accidents for the purpose of the Decree-Law No. 40/95/M

The Law No. 6/2015, amending the Decree-Law No. 40/95/M which defines the compensation regime for damage arising from work accidents and occupational diseases, was published on the 29th of June 2015 and will be effective on 14 August 2015.

The most important change reflected in this amendment is the addition of several new circumstances that give rise to compensation for work accidents and occupational diseases.

The accidents occurred during the period when employees are directly routing back and forth between their residence and the workplace during tropical cyclone warning signals at or above the level No. 8, provided that they occur within three hours before or after the normal working period are qualified as work accidents.

Another relevant change is the addition of two new articles to Decree-Law No. 40/95/M which regulates the responsibility terms of the corporate entities regarding the damages arising from work accidents and occupational diseases.

According to the new Articles No. 68-A and 68-B, all the corporate entities, even those that are irregularly incorporated, unincorporated associations and special committees are liable for the offenses prescribed under the Decree-Law No. 40/95/M when committed in their name and in their collective interest by their organs or representatives.

Hong Kong – Anti-money laundering controls to address tax evasion

On 31 March 2015, the Hong Kong Monetary Authority (HKMA) issued a new guidance paper on Anti-Money Laundering (AML) Controls over Tax Evasion, which sets out new practices regarding how Authorized Institutions (AIs) should handle tax evasion risk in Hong Kong to safeguard themselves and the integrity of Hong Kong as an international financial centre.

Under the new Guidance Paper, AIs are expected to give full consideration to the adoption of the practices set out in the paper, where necessary, taking into account their money laundering risks in respect of tax evasion.

Thus, according to the new Guidance Paper, tax evasion risk should be part of the overall approach to monitoring AML risk and the new provisions need to be integrated into the existing AML framework.

Additionally, this document summarises all the latest regulatory requirements and recommendations for monitoring anti-money laundering risk.

NUMBERS(SOURCEDSEC)
UNEMPLOYMENT RATE–(March to May) – 1,8%
VISITOR ARRIVAL(May 2015) – 2,548,562
OCCUPANCY RATE OF HOTEL SECTOR(May) – 78,9%

Macau Laws & Regulations:
LAW no. 9/2015 – AMENDS THE ANNEXED TABLE TO THE REGULATION ON CONSUMPTION TAX

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