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.
Confusion over how 13th month pay and Christmas bonuses differ in the Philippines is common. Here, we look at the differences between the two types of bonus payments, how they are taxed, and strategies to optimize their use.
Malaysia is set to implement a series of tax increases for both domestic and international bound flights starting in 2017. With rates confirmed, criticism and outcry from the nation’s aviation industry has been growing as many worry about the ramifications for regional aviation.
A Philippine tax amnesty has been proposed in an effort to increase state collections and mitigate reduced revenues projected in the wake of planned corporate tax reductions. Understand the terms of the amnesty and how you may qualify for relief.
VAT and GST rates within ASEAN vary widely between member states – from 12 percent in the Philippines to countries which do not currently levy these taxes at all, such as Laos and Myanmar. For those considering investment, GST, VAT, and other taxation tied to the purchase of specific goods should be watched closely.