In this article, we analyze the ease or burden of tax compliance in ASEAN in 2018 and beyond. We discuss aspects ranging from time and documentation to the effectiveness of government policies for the benefit of would-be investors.
In this article, we highlight the salient features of the taxation regimes of the individual member states of ASEAN. We examine the various forms of taxation within ASEAN while highlighting their regional variations.
The China-Cambodian Double Taxation Treaty (DTT) entered into force on January 26, 2018, and will be applicable to income received on or after January 1, 2019. Read our article to know about the key highlights of the treaty.
In the Philippines, all companies – domestic or foreign – are liable to pay corporate income tax (CIT). The tax liability for a corporation is determined by its residency status and is based on the net income it obtains. Read more in our latest article.
The latest issue of ASEAN Briefing Magazine titled, “The 2018/19 ASEAN Tax Comparator”, is out now and available to subscribers as a complimentary download in the Asia Briefing Publication Store.
Cambodia’s two new Double Tax Agreements (DTAs) – with Singapore and Thailand – has now come into effect. The two agreements aim to clarify taxation rights and also provide for exemption of tax on certain types of income, lowering barriers to cross-border investment and encouraging bilateral trade.
The Philippines’ much awaited tax reform package or Tax Reform for Acceleration and Inclusion (TRAIN) was signed into law recently, paving the way for a simpler and fairer tax regime in the country. Read more about the key changes introduced by the new law in our latest article.
Thailand’s updated personal income tax structure officially came into effect on January 1, 2017, with the aim to ease tax burdens and boost disposable income. The new structure revises the income tax bands subject to 30 percent and 35 percent tax, and increases deductibles, and doubles allowances.
The Philippines’ Finance Secretary, Carlo Dominguez, has recommended a corporate income tax rate of 25 percent, reduced from the current 32 percent as part of the Government’s Comprehensive Tax Reform Program (CTRP).
Cambodia’s recent tax reforms, which aim to introduce small and medium sized taxpayers into the formal economy, have been called the country’s most significant in decades. Here, we look at updated tax tiers, Tax on Profit and Tax on Salary rates, and other recent developments in Cambodia’s tax regime.