Tax & Accounting

Declaration Now Required on Transfer Pricing Documentation in Malaysia


The Malaysian Internal Revenue Board now requires corporate taxpayers to declare whether they have prepared transfer pricing documentation while filing a tax return.

Malaysia Announces Transfer Pricing Awareness Survey


In a recent effort to collect more data on related party transactions and transfer pricing compliance, the Inland Revenue Board (IRB) has announced that it will start issuing transfer pricing awareness surveys before the commencement of a transfer pricing audit.

Singapore and Seychelles Sign Double Tax Agreement


The Inland Revenue Authority of Singapore has announced that Singapore and the Seychelles have signed an Agreement for the Avoidance of Double Taxation on July 9, 2014.

Tax Exemptions on Foreign Income for Singapore-Based Companies


According to the Inland Revenue Authority of Singapore, a Singapore tax resident can enjoy tax exemption on specified foreign income that is remitted into Singapore.

Two-Year Tax Breaks Proposed for Philippines’ Startups


The Philippines have filed a bill that would grant a tax exemption for startup businesses during their first two years of establishment.

Singapore Revises M&A Tax Allowances


The Inland Revenue Authority of Singapore have released their revised e-Tax Guide today, which outlines changes to the country’s M&A tax relief scheme, including stamp duty relief and double taxation deductions.

Thailand Offers Tax Deductions on R&D


Thailand has launched an online expense certification service to help businesses demonstrate they meet the qualifications necessary for a 200 percent research and development (R&D) tax deduction.

Tax Hike Makes Luxury Cars in Indonesia Even More of a Luxury


Regulations issued by the Indonesian Ministry of Finance hike the luxury-goods sales tax (LCT) on luxury cars by two-thirds to 125 percent.

Philippines Tax Department Considers Lowering Taxes


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.

ASEAN Tax Comparator


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.

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