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.
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 has increased its goods and services tax (GST) rate by one percent to nine percent as of January 1, 2024.
Singapore will begin taxing foreign-sourced disposable gains from January 1, 2024, with Parliament approving the amendments to the country’s Income Tax Act.
Foreigners who owns a rental property in Vietnam must understand their tax reporting and remittance obligations.
All companies in Thailand must prepare financial statements for their assigned accounting period to the Ministry of Commerce.
Indonesia’s Ministry of Finance issued Regulation 66 of 2023 (MOF 66/2023) to govern the tax treatment of benefits-in-kind.
Companies setting up in Singapore are eligible for various incentives that can help reduce their operational costs.
The goods and services tax is a self-assed tax in Singapore. The current rate is 8%, but this is expected to rise to 9% in 2024.
Singapore makes it obligatory for registered businesses to file annual financial statements and hold annual general meetings.