Tax & Accounting

Indonesia Issues New Tax Incentives to Spur EV Production and Sales

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Indonesia’s Ministry of Finance issued new tax incentives to spur electric vehicle production and sales in the country.

Key Tax Changes for Foreign Firms in Vietnam

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Changes to several taxes in Vietnam have taken effect in 2024. Some of these changes have been made to provide economic stimulus, whereas others have been made to bring Vietnam’s tax policies in line with international tax regimes.

Taxation of Foreign Sourced Income in Thailand Begins in 2024

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Instruction No. Paw 161/2566 states that Thai taxpayers who derive assessable income from abroad must pay tax on that income after bringing such income to Thailand.

Malaysia Imposes Tax on the Import of Low Value Goods

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As of January 1, 2024, Malaysia has imposed a new 10 percent sales tax on the import of low-value goods sold online in the country.

Tax Transformation: Indonesia Introduces New Income Tax Regulations

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Indonesia’s government has introduced Government Regulation 58 of 2023 (GR 58/2023) on new income tax deduction rates for individual taxpayers.

Singapore Increases Goods and Services Tax for 2024

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Singapore has increased its goods and services tax (GST) rate by one percent to nine percent as of January 1, 2024.

Cambodia and France Engage in Double Tax Avoidance Agreement Talks

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Cambodia and France have entered the first round of negotiations on a double taxation avoidance agreement to bolster trade.

Laos Raises Immediate Excise Tax Rates on Specific Products

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Laos has introduced a new decree introducing strategic excise tax adjustments on various products.

Indonesia and Australia Sign MoU to Boost EV Collaboration

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Indonesia and Australia will collaborate in the EV industry through an MoU that focuses on battery manufacturing and minerals processing.

Malaysia’s New Transfer Pricing & APA Rules

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Malaysia has announced two new rules governing transfer pricing norms in the country. Multinational entities should take note.

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