Tax & Revenue

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Excise Department to take Tax Measure to encourage use of B20 Biodiesel

BANGKOK, June 22 (NNT) - The Excise Department is taking a tax measure to encourage the use of B20 biodiesel.

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Tax Measures approved to promote setting up of International Firms' Headquarters in Thailand

BANGKOK, June 19 (NNT) - The cabinet approved a draft decree on tax discounts and waivers to promote the establishment of international companies' headquarters in Thailand, said Government Spokesman Lt Gen Sansern Kaewkamnerd.
Date: 19 June 2018; Type: Legal News; Source: National News Bureau of Thailand

Cabinet approves Tax Incentives for Research Investment by MNCs

BANGKOK, June 20 (NNT) - The Cabinet has approved tax incentives for multi-national corporations’ investment in research and development to promote innovations and technology in Thailand. The spokesman of the Prime Minister’s Office, Lt. Gen. Sansern Kaewkumnerd said on Tuesday that the weekly Cabinet meeting approved in principle ...
Date: 20 June 2018; Type: Legal News; Source: National News Bureau of Thailand

Government removes 2 per cent of withholding Tax on Domestic Payments

The Ministry of Planning and Finance yesterday released its latest notification (47/2018) on withholding tax, which replaces notification (51/2017) released May 22, 2017.
Date: 20 June 2018; Type: Legal News; Source: Myanmar Times

Amended Law offers No Exception to VAT Charge

All enterprises that have been registered and have obtained a tax ID will have to comply with the Value Added Tax Law. Deputy Prime Minister and Minister of Finance, Mr Somdy Duangdy, yesterday presented a draft of the amended Law on Value Added Tax to the National Assembly to consider and approve.
Date: 20 June 2018; Type: Legal News; Source: Vientiane Times

Pengenaan GST Pada Kadar 0% Mulai 1 Jun 2018 (Tanda Harga)

This Circular notifies the revised GST rate from 6% to 0% from 1 June 2018. All GST-registered traders are required to comply with the imposition of new GST rates.
Date: 30 May 2018; Type: Circular; Source: Royal Customs

Singapore and Kenya sign Agreement for Avoidance of Double Taxation

Singapore has signed a comprehensive agreement for the Avoidance of Double Taxation (DTA) with the Republic of Kenya on 12 June 2018.
Date: 13 June 2018; Type: Legal News; Source: Ministry of Finance

Income Tax (Electronic Service) Regulations 2018

These Regulations come into operation on 18 June 2018.
Date: 18 June 2018; Type: Federal Subsidiary Legislation; Citation: No. S 408; Source: Singapore Statutes Online

IRAS e-Tax Guide on Avoidance of Double Taxation Agreements

This e-Tax Guide provides taxpayers with guidance on the interpretation and application of Singapore’s Double Taxation Agreements (DTAs) and the Mutual Agreement Procedure under Singapore’s DTAs.
Date: 08 June 2018; Type: Guide; Source: Inland Revenue Authority of Singapore

IRAS e-Tax Guide on Income Tax: Tax Deduction for Shares Used to fulfill Obligations under an Employee Equity-Based Remuneration Scheme

This is a consolidated e-tax guide on the tax deduction for treasury shares used to fulfill obligations under an Employee Equity-Based Remuneration (EEBR) scheme. Furthermore, it sets out the expanded scope of tax deduction where a Special Purpose Vehicle administers the EEBR scheme.
Date: 10 April 2018; Type: Guide; Source: Inland Revenue Authority of Singapore

Customs (Duties) (Amendment No. 2) Order 2018

This Order comes into operation on 24 June 2018.
Date: 11 June 2018; Type: Federal Subsidiary Legislation; Citation: No. S 390; Source: Singapore Statutes Online

Summary of Responses to the Public Consultation on GST: Taxing Imported Services by Way of Reverse Charge and Taxing Imported Services by way of an Overseas Vendor Registration Regime

This is to notify that the Inland Revenue Authority of Singapore (IRAS) had received a total of 43 feedback submissions on the two draft e-Tax Guides, “GST: Taxing imported services by way of reverse charge” and “GST: Taxing imported services by way of an overseas vendor registration regime”. The IRAS has carefully considere ...
Date: 31 May 2018; Type: Feedback; Source: Inland Revenue Authority of Singapore

Revised Application Procedures for Customs eServices

This is to notify that with effect from 20 June 2018 the application forms for the certificates will be available through the National Trade Platform website. Notice No. 12/2018
Date: 12 June 2018; Type: Circular; Source: Customs Department

Customs (Duties) (Exemption) (Amendment) Order 2018

This Order comes into operation on 24 June 2018.
Date: 11 June 2018; Type: Federal Subsidiary Legislation; Citation: No. S 391; Source: Singapore Statutes Online

Customs (Manufacturing Licence) (Exemption) (Amendment) Order 2018

This Order comes into operation on 24 June 2018.
Date: 11 June 2018; Type: Federal Subsidiary Legislation; Citation: No. S 392; Source: Singapore Statutes Online

Amended Law offers No Exception to VAT Charge

All enterprises that have been registered and have obtained a tax ID will have to comply with the Value Added Tax Law. Deputy Prime Minister and Minister of Finance, Mr Somdy Duangdy, yesterday presented a draft of ...

Pay Taxes or face Closure, Thousands of Businesses warned Issue of Illegally Imported Cars remains unresolved Revised Laws the Key to boosting Revenue Collection more

Pengenaan GST Pada Kadar 0% Mulai 1 Jun 2018 (Tanda Harga)

This Circular notifies the revised GST rate from 6% to 0% from 1 June 2018. All GST-registered traders are required to comply with the imposition of new GST rates.

GST: Guide on Insurance and Takaful Federal Government agrees to channel Oil Royalty directly to State Rate of Goods and Services Tax to become Zero Per Cent more

Government removes 2 per cent of withholding Tax on Domestic Payments

The Ministry of Planning and Finance yesterday released its latest notification (47/2018) on withholding tax, which replaces notification (51/2017) released May 22, 2017.

Property weak on Canned Tax Amnesty Bill Tax Amnesty Law under Review, will be “Fair,” Minister says Yangon Tax Rates and Fines under Scrutiny more

INDUSTRY UPDATES

Emergency Decree to be lifted in More Areas

BANGKOK, June 24 (NNT) - The National Security Council (NSC) is considering withdrawing the Emergency Decree in more areas of the restive south after last week’s revocation of the special law in two districts.

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INDUSTRY UPDATES

Chiang Mai Justice Office offers Guidance to Youth

CHIANG MAI, June 23 (NNT) - The Chiang Mai Justice Provincial Office is offering guidance to local youth to induce participation in preventing and solving the problem of crime in society.

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INDUSTRY UPDATES

EC Member calls for use of Special Law to determine Constituencies

BANGKOK, June 23 (NNT) - The Election Commission (EC) has called on the government and the National Council for Peace and Order (NCPO) to utilize Article 44 of the provisional constitution to speed up preparations for primary elections.

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INDUSTRY UPDATES

Excise Department to take Tax Measure to encourage use of B20 Biodiesel

BANGKOK, June 22 (NNT) - The Excise Department is taking a tax measure to encourage the use of B20 biodiesel.

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INDUSTRY UPDATES

Duterte appoints new CA Justice

MANILA, June  22 (PNA) - President Rodrigo Duterte has appointed Dorothy Montejo-Gonzaga as associate justice of the Court of Appeals (CA).

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INDUSTRY UPDATES

President to issue Online Licensing System

Denpasar, Bali, June 24 (ANTARA News) - President Joko Widodo (Jokowi) said the government will soon issue an integrated licensing system through "online single submission" to speed up the process of business licensing.

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INDUSTRY UPDATES

Journalists banned from Trial of Thamrin Bombings' Defendant

Jakarta, June 22 (ANTARA News) - Journalists reporting on the verdict on accused Oman Rahman involved in the Thamrin bombing in 2016 were banned from the main courtroom in the South Jakarta district court where the trial proceedings were ongoing.

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INDUSTRY UPDATES

Temporary Work Visit Passes revoked from 11th Year

PUTRAJAYA, June 22 (Bernama) - The Immigration Department has denied a newspaper report that the Home Ministry (KDN) was withdrawing the approval of extending the Visit Pass (Temporary Employment) or PLKS for the second and subsequent years approved by the previous government.

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INDUSTRY UPDATES

French Judiciary pursuing Scorpene Corruption Scandal - Guan Eng

KUALA LUMPUR, June 22 (Bernama) - Finance Minister Lim Guan Eng today met French Ambassador Frédéric Laplanche who disclosed that the French judicial system is pursuing the 1 billion-euro Scorpene submarine corruption scandal.

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INDUSTRY UPDATES

Datuk Nor Shamsiah Mohd Yunus appointed as the Bank Negara Malaysia Governor

His Majesty Yang di-Pertuan Agong has on 19 June 2018 granted his royal consent to the recommendation of YAB Prime Minister Tun Dr. Mahathir Mohamad to appoint Datuk Nor Shamsiah Mohd Yunus as the new Governor of Bank Negara Malaysia.

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INDUSTRY UPDATES

Actions against Companies in Enforcement Operation targeting Machinery Safety and Amputation Hazards

The Ministry of Manpower mounted a two-month enforcement operation in April and May 2018 targeting machinery safety to address hand and finger injuries at the workplace. 380 inspections were conducted at 350 companies in the manufacturing, construction and marine sectors.

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INDUSTRY UPDATES

House unveils New Website

The House of Representatives has unveiled its new website house.gov.ph., in its effort to bring legislation closer to the public. The website is easily navigable and uses simple, easy-to-understand language to engage the public and encourage interest in legislation.

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INDUSTRY UPDATES

Agreement on curbing Illegal Drug use through Preventive Education signed in New York

The Philippine Consulate General in New York witnessed the signing of a landmark Memorandum of Agreement between non-profit organization Friends Indeed USA Inc., and Philippine-based non-government organization People’s Volunteer Against Illegal Drugs on 27 May 2018 at Astoria World Manor, Queens, New York City.

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INDUSTRY UPDATES

Philippines Champions Small and Medium Entrepreneurs at APEC Senior Officials Meet

The Department of Foreign Affairs championed Micro, Small and Medium Enterprise (MSMEs) at the Second Senior Officials’ Meeting (SOM2) of the Asia-Pacific Economic Cooperation (APEC) in Port Moresby, Papua New Guinea.

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INDUSTRY UPDATES

DOJ-OOC continues Conduct of Judicial Training on Cybercrime for the ASEAN Prosecutors and Judges

The Department of Justice - Office of Cybercrime (DOJ-OOC), in partnership with the Supreme Court of the Philippines and the Global Action on Cybercrime Extended (GLACY+) Project, is set to conduct the Advanced Judicial Training Course on Cybercrime and Electronic Evidence for Judges, Magistrates and Prosecutors for the ASEAN Region in Cebu, Philippines on 19-22 June 2018.

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