ASEAN Briefing News

Malaysia’s Sales and Service Tax Increase: What Industries are Impacted?

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Malaysia has officially increased the sales and services tax rate from six percent to eight percent, which will impact several industries such as finance and leisure.

A Guide to Estimated Chargeable Income Filing in Singapore

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Incorporated companies in Singapore must file an Estimated Chargeable Income (ECI) for each year of financial assessment.

Key Tax Changes for Foreign Firms in Vietnam

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Changes to several taxes in Vietnam have taken effect in 2024. Some of these changes have been made to provide economic stimulus, whereas others have been made to bring Vietnam’s tax policies in line with international tax regimes.

Malaysia Imposes Tax on the Import of Low Value Goods

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As of January 1, 2024, Malaysia has imposed a new 10 percent sales tax on the import of low-value goods sold online in the country.

Singapore Increases Goods and Services Tax for 2024

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Singapore has increased its goods and services tax (GST) rate by one percent to nine percent as of January 1, 2024.

Taxation of Foreign Sourced Income in Singapore Effective January 2024

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Singapore will begin taxing foreign-sourced disposable gains from January 1, 2024, with Parliament approving the amendments to the country’s Income Tax Act.

A Guide to Tax Obligations for Non-Resident Property Owners in Vietnam

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Foreigners who owns a rental property in Vietnam must understand their tax reporting and remittance obligations.

Audit and Compliance in Thailand: A Guide for Foreign Investors

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All companies in Thailand must prepare financial statements for their assigned accounting period to the Ministry of Commerce.

Indonesia New Tax Regime for Benefits-in-Kind

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Indonesia’s Ministry of Finance issued Regulation 66 of 2023 (MOF 66/2023) to govern the tax treatment of benefits-in-kind.

Business Incentives for Foreign Investors in Singapore

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Companies setting up in Singapore are eligible for various incentives that can help reduce their operational costs.

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