Regulations issued by the Indonesian Ministry of Finance hike the luxury-goods sales tax (LCT) on luxury cars by two-thirds to 125 percent.
The Philippines’ Bureau of Internal Revenue (BIR) Commissioner, Kim Henares, explained in an interview with ABS-CBN News Channel last Thursday that the BIR is considering draft proposals that will lower personal income taxes by 2015.
In this article, we outline the key corporate and individual income tax rates for the 10 member states of the Association of Southeast Asian Nations (ASEAN) – Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Vietnam.
On Sunday, January 12th, Indonesia’s controversial ban on raw mineral ore exports took effect an hour after President Susilo Bambang Yudhoyono signed off on some eleventh hour exemptions. The rationale behind the ban is to encourage the domestic processing of raw mineral ore into higher value metal products. The hope is that a greater share[…..]
Ho Chi Minh City – As of January 1, 2014, vehicles imported from other ASEAN countries to Vietnam are eligible to receive a 10-50 percent tax cut following the 2008 ASEAN Trade in Goods Agreement (ATIGA). The new tax rate for vehicles imported into Vietnam from ASEAN nations is displayed in the following chart: ASEAN[…..]
Oct. 4 – The Philippines has been upgraded by Moody’s to an investment rank of Baa3, citing “robust economic performance”, “ongoing fiscal and debt consolidation” and “political stability and improved governance.” Both Fitch Ratings and Standard & Poors have also upgraded the Philippines’ ranking. The Philippines’ economy has grown at 7.5 percent this year, one[…..]
Jul. 18 – Myanmar is currently working to pass a new securities law bill recently introduced to its lower house of parliament and, as a result, the country is now shooting to have its own stock exchange by the end of this year. The stock exchange will be established shortly after the bill – entitled[…..]
May 23 – Both foreign and domestic residents of Vietnam are able to obtain reductions and exemptions on their taxes through a variety of different methods. Thanks to the DTAAs that Vietnam has, the tax reductions and exemptions you may be subject to are easy to understand and to take advantage of – all you[…..]
May 21 – The Philippines’ 2013 midterm general elections were held last week, with 12 senate seats to be filled and 229 district seats up for grabs in the House of Representatives. Full results can be found here. Nine of the twelve senate seats and 114 district seats were won by members of incumbent President[…..]
May 17 – Last week during the national elections in Malaysia, the National Front Coalition (NFC), the party that has governed Malaysia for 56 consecutive years, won a majority of the country’s parliamentary seats to officially extend its reign. The NFC first obtained majority after Malaysia declared independence from Britain in 1957, and has won 13[…..]