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.
SINGAPORE – At the 33rd ASEAN Tourism Forum (ATF) in Sarawak, Malaysia last week, ASEAN nations reported a 12 percent increase in tourist visits since 2012. Adopting the theme ‘ASEAN – Advancing Tourism Together,’ Malaysian Minister of Tourism and Culture Nazri Abdul Aziz declared the ATF a resounding success by highlighting the ASEAN community’s rapid […]
HANOI – A report issued by PricewaterhouseCoopers shows that CEOs based in ASEAN are far more bullish about growth prospects than any other region globally. The 17th Annual Global CEO Survey, which measures investor confidence, puts ASEAN-based Chief Executives at 45 percent optimistic as against 39 percent globally. ASEAN CEOs also expressed stronger long-term confidence […]
As the country seeks to regain its position as an Asian auto hub, Malaysia has eased restrictions in its auto market with foreign investors now being able to manufacture all types of hybrid and electric passenger cars, including small passenger cars. The changes were announced on Monday as part of the country’s new National Automotive Policy (NAP). […]
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 […]
Dec. 27 – During a meeting in Tokyo marking the 40th anniversary of Japan-ASEAN relations, Prime Minister Shinzo Abe pledged ¥2 trillion (about US$20 billion) in aid and loans to Southeast Asian countries over the next five years in a move signaling both tighter cooperation between Tokyo and the Southeast Asian block, and an attempt […]
By Shawn Greene Dec. 26 – The World Economic Forum (WEF) and Accenture have issued the Global Energy Architecture Performance Index Report 2014 which assesses energy systems across countries, and examines how the international community can move towards a future of sustainable energy. The 104-page document assesses economic growth, environmental sustainability, and energy security across […]
Dec. 17 – Japan and the ASEAN nations strengthened economic and maritime ties this month during the Japan-ASEAN summit held in Tokyo. The gathering of high-level officials pledged to “strengthen regional cooperation frameworks for peace, stability and prosperity in the Asia-Pacific region,” according to a joint-press release issued by the two nations. Following the delegation’s […]
Nov. 26 – The Association of Southeast Asian Nations (ASEAN) is strongly promoting information and communication technology (ICT) through the ASEAN ICT Master-plan. During a recent meeting, Singapore’s Minister of Communications and Information, Yaacob Ibrahim, explained ASEAN’s plan for building ICT capabilities throughout the region. He stated that “the most important step for us is to […]
Oftentimes referred to as ASEAN’s demographic dividend, ASEAN countries’ decreasing dependency ratios have the potential to translate into significant GDP growth if accompanied by effective government policies that liberalize trade, attract FDI, and mobilize capital and labor productively.