Tax & Revenue

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Government Offers Massive Tax Break to CSX Firms

The government has granted a huge tax incentive to companies listed on the Cambodia Securities Exchange (CSX) - a 50 per cent reduction on income tax and eliminating all tax debt if the firms are listed on the CSX within three years from now.

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Income from Paid Reviews, Brand Endorsement taxable: IRB

KUALA LUMPUR, Jan 17 (Bernama) - Internet celebrities and other individuals - including minors - who earn income from paid reviews, brand endorsements and businesses conducted via the social media are subject to income tax, if they earn more than RM5,000 a month.
Date: 17 January 2019; Type: Legal News; Source: Bernama

False Claims for GST Refund: Businessman slapped Additional 224 Charges

IPOH, Jan 15 (Bernama) - A businessman who is already facing 22 charges of making false claims on Goods and Services Tax refunds amounting to more than RM1 million, was slapped with 224 additional charges of the same in the Sessions Court here today.
Date: 15 January 2019; Type: Legal News; Source: Bernama

IRB to scrutinize e-Commerce Businesses, Social Media

KUALA LUMPUR, Jan 14 (Bernama) - The Inland Revenue Board (IRB) will look deeper into e-commerce businesses, including businesses leveraging on social media platforms, to collect information on misreported asset declarations, said chief executive officer Datuk Seri Sabin Samitah.
Date: 14 January 2019; Type: Legal News; Source: Bernama

Excise Tax Hike on Alcohol, Tobacco Bills certified as urgent

MANILA, Jan 9 (PNA) - President Rodrigo R. Duterte agreed to certify as urgent two measures meant to raise excise tax on alcohol and tobacco products to fund the government’s Universal Health Care (UHC) program.
Date: 09 January 2019; Type: Legal News; Source: Philippine News Agency

Finance Ministry mulls Income Tax Reduction on Corporate Taxpayers

Jakarta, Jan 8 (ANTARA News) - The Finance Ministry is considering a reduction in the tariff of income tax on corporate taxpayers to improve the competitive edge of the national industry.
Date: 08 January 2019; Type: Legal News; Source: Antara

City of Davao and Another v ARC Investors Inc

Date: 21 December 2018; Court: Court of Tax Appeals; Citation: CTA EB No. 1705; Source: Court of Tax Appeals

GST: General Guide for Businesses (Eighth Edition)

This guide provides an overview of the Goods and Services Tax (GST) in Singapore. It covers three broad categories which are GST Concepts and Principles, GST Administration and GST Schemes.
Date: 03 January 2019; Type: Guide; Source: Inland Revenue Authority of Singapore

Marketing Convergence Inc v Commissioner of Internal Revenue

Date: 04 January 2019; Court: Court of Tax Appeals; Citation: CTA Case No. 9301; Source: Court of Tax Appeals

IRAS e-Tax Guide on Record Keeping Guide for GST-Registered Businesses (Fifth Edition)

This guide is designed to help GST-registered businesses prepare and keep records for Income Tax and GST purposes.
Date: 03 January 2019; Type: Guide; Source: Inland Revenue Authority of Singapore

GST: Major Exporter Scheme (Ninth Edition)

This e-Tax Guide explains the mechanism and qualifying criteria for the Major Exporter Scheme and further provides guidance to GST-registered business who seek to apply for the scheme where GST is suspended on imports.
Date: 03 January 2019; Type: Guide; Source: Inland Revenue Authority of Singapore

GST: Assisted Self-Help Kit Annual Review Guide (Seventh Edition)

This guide provides guidance to GST-registered business who undertake the Assisted Self-help Kit (ASK) review on a voluntary basis or as a requirement for specific purposes e.g. in the course of audit or application for or renewal of GST schemes.
Date: 03 January 2019; Type: Guide; Source: Inland Revenue Authority of Singapore

House approves More Benefits for Employees from Service Charge Collection

Employees of hotels, restaurants and similar establishments may soon receive a bigger share in the service charge collection, giving more benefit to the workers.
Date: 01 January 2019; Type: Legal News; Source: House of Representatives

DOE rolls out Guidelines for Oil Tax Hike Implementation

MANILA, Jan 3 (PNA) - The Department of Energy (DOE) said it will implement measures to ensure that the second tranche of excise tax hike on fuel products will be correctly implemented.
Date: 03 January 2019; Type: Legal News; Source: Philippine News Agency

Income Tax (Concessionary Rate of Tax for Approved Insurance Brokers) (Miscellaneous Amendments) Regulations 2019

These Regulations are deemed to have come into operation on 1 April 2018.
Date: 02 January 2019; Type: Federal Subsidiary Legislation; Citation: No. S 8; Source: Singapore Statutes Online

Government Offers Massive Tax Break to CSX Firms

The government has granted a huge tax incentive to companies listed on the Cambodia Securities Exchange (CSX) - a 50 per cent reduction on income tax and eliminating all tax debt if the firms are listed on the CSX within ...

Double Taxation Accord set to be implemented more

Finance Ministry mulls Income Tax Reduction on Corporate Taxpayers

Jakarta, Jan 8 (ANTARA News) - The Finance Ministry is considering a reduction in the tariff of income tax on corporate taxpayers to improve the competitive edge of the national industry.

Jimmy DK v Kepala Kantor Pertanahan Kota Medan DK Direktur Jenderal Pajak v PT Perkebunan Milano Direktur Jenderal Pajak v PT Nagaraja Lestari more

New Decree offers Tax Breaks for Investors in Lao SEZs

Domestic and foreign investors will be granted a number of tax breaks under a new amended decree related to specific and special economic zones (SEZs) issued recently by the government.

Amended Law offers No Exception to VAT Charge Pay Taxes or face Closure, Thousands of Businesses warned Issue of Illegally Imported Cars remains unresolved more

Income from Paid Reviews, Brand Endorsement taxable: IRB

KUALA LUMPUR, Jan 17 (Bernama) - Internet celebrities and other individuals - including minors - who earn income from paid reviews, brand endorsements and businesses conducted via the social media are subject to income t ...

False Claims for GST Refund: Businessman slapped Additional 224 Charges IRB to scrutinize e-Commerce Businesses, Social Media Service Tax Amendments 2019 more

Parliament to pass Tax Bill to curb Corruption

Parliament is set to pass a tax management bill that is expected to curb corruption and increase revenue, a senior member of a Pyidaungsu Hluttaw (bicameral parliament) committee said on Monday.

More Taxes to be levied on Alcohol, Cigarettes IRD to launch Integrated Tax Administration System Parliament mulls Maintaining Tax Rates to Offset Forex Pressure more

Excise Tax Hike on Alcohol, Tobacco Bills certified as urgent

MANILA, Jan 9 (PNA) - President Rodrigo R. Duterte agreed to certify as urgent two measures meant to raise excise tax on alcohol and tobacco products to fund the government’s Universal Health Care (UHC) program.

City of Davao and Another v ARC Investors Inc Marketing Convergence Inc v Commissioner of Internal Revenue House approves More Benefits for Employees from Service Charge Collection more

GST: General Guide for Businesses (Eighth Edition)

This guide provides an overview of the Goods and Services Tax (GST) in Singapore. It covers three broad categories which are GST Concepts and Principles, GST Administration and GST Schemes.

IRAS e-Tax Guide on Record Keeping Guide for GST-Registered Businesses (Fifth Edition) GST: Major Exporter Scheme (Ninth Edition) GST: Assisted Self-Help Kit Annual Review Guide (Seventh Edition) more

Cabinet approves Return of VAT to Consumers' Debit Accounts

BANGKOK, Dec 19 (NNT) - The cabinet has approved the return of Value Added Tax (VAT) to consumers buying products using debit accounts, even though the move will cost the government 9.2 billion baht in lost revenue.

Finance Minister: State Welfare Card Holders given 5% VAT Refund Tax Incentive seeks to help Rubber Farmers Finance Ministry to reimburse VAT Payments during Chinese New Year more

INDUSTRY UPDATES

Judge unconvinced by Rapist’s Excuse

A supreme Court judge labelled a 72-year-old man’s excuse that police threats were the reason he confessed to raping a minor in Kampong Chhnang province in 2013 as “unreasonable”.

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INDUSTRY UPDATES

Customs Department offers Online Payment Services

BANGKOK, Jan 16 (NNT) - Businesses needing to make payments to the Customs Department can now do so through online banking.

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INDUSTRY UPDATES

January 21 Special Non-Working Day in ARMM, Two Other Cities

MANILA, Jan 17 (PNA) - Malacañang has declared Jan. 21, 2019 (Monday), a special non-working day in the Autonomous Region in Muslim Mindanao (ARMM), Isabela City, and Cotabato City for the plebiscite of the Bangsamoro Organic Law (BOL).

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INDUSTRY UPDATES

White Paper on Defence to be tabled in Parliament this Year

KOTA KINABALU, Jan 17 (BERNAMA) - The Ministry of Defence will table a White Paper on Defence which will detail the tasks and roles of the Malaysian Armed Forces, said Defence Deputy Minister Senator Liew Chin Tong.

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INDUSTRY UPDATES

Chief Justice calls for Government Audit on Rights of Indigenous People

KOTA KINABALU, Jan 17 (Bernama) - Chief Justice Tan Sri Richard Malanjum today proposed that the government conduct an audit on the rights of the indigenous people to ensure that they are in line with the United Nations declaration.

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INDUSTRY UPDATES

Rape victim testifies that Sex with Convicted Man was ‘Consensual’

A man who was sentenced to 10 years’ imprisonment for a 2007 rape asked the Appeal Court on Tuesday to release him on bail as he was suffering from mental illness.

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INDUSTRY UPDATES

PRRD appoints new Sandiganbayan Associate Justice

MANILA, Jan 16 (PNA) - President Rodrigo R. Duterte has appointed former Makati Regional Trial Court (RTC) judge Ronald Moreno as Associate Justice of the Sandiganbayan.

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INDUSTRY UPDATES

Foreign Ministry continues Ban on UN Special Rapporteur Lee

THE government said it would not rescind its ban on UN Special Rapporteur Yanghee Lee from entering Myanmar, despite her recent request, a Foreign Ministry official said Monday.

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INDUSTRY UPDATES

Pay the Minimum Wage or face Legal Action, Employers told

Employers in Laos will be subject to legal action if authorities discover they are failing to pay their workers the minimum wage.

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INDUSTRY UPDATES

DLT introducing Electronic Licenses

BANGKOK, Jan 15 (NNT) - The Department of Land Transport (DLT) has officially begun to introduce electronic drivers licenses, launching a downloadable application that can digitally hold driver authorizations and vehicle details.

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INDUSTRY UPDATES

DOLE vows Aid for Workers displaced by Hanjin Bankruptcy

MANILA, Jan 15 (PNA) - The Department of Labor and Employment (DOLE) on Tuesday vowed to assist 3,800 workers of Hanjin Heavy Industries and Construction Philippines (HHIC-Phil) who might be affected after the South Korean shipbuilder declared bankruptcy and applied for rehabilitation.

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INDUSTRY UPDATES

Over 100 Medicine Brands for Treatment of Diabetes, Hypertension, High Cholesterol now cheaper under TRAIN Law

The Food and Drug Administration (FDA) has submitted to the Department of Finance (DOF) a list of over 100 medicines with their corresponding generic names and brands for the treatment and prevention of diabetes, hypertension and high-cholesterol, the sale of which are now exempted from the payment of the value-added tax (VAT) beginning Jan. 1 as provided under the Tax Reform for Acceleration and Inclusion Act (TRAIN).

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INDUSTRY UPDATES

Tax Academy eyeing Campuses in Tagaytay, New Clark City

The Department of Finance (DOF) is planning to set up permanent campuses of the Philippine Tax Academy (PTA) in Tagaytay City in Cavite and New Clark City at the Clark Special Economic Zone in Pampanga.

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INDUSTRY UPDATES

Courts urged to speed up Judicial Reform

Hanoi, Jan 14 (VNA) - General Secretary of the Communist Party of Vietnam and President Nguyen Phu Trong has stressed the need for courts at all levels to speed up judicial reform and improve the quality of judgment to minimise inaccurate verdicts and overlooking criminals.

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INDUSTRY UPDATES

No Passport Data lost, breached: Government Printer

MANILA, Jan 14 (PNA) - No passport loss nor breach has occurred in the Department of Foreign Affairs (DFA), APO Production Unit Inc. (APUI), the current Philippine e-passport maker said Monday.

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INDUSTRY UPDATES

Complaint Boxes for Iskandar Puteri Schools to tackle Crimes

ISKANDAR PUTERI, Jan 14 (Bernama) - The Iskandar Puteri District police have suggested for the district’s schools to provide boxes for information or complaints to tackle various crimes involving students.

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INDUSTRY UPDATES

Tax Amnesty Programme aims to reduce People's Burden, says IRB

KUALA LUMPUR, Jan 14 (Bernama) - The Special Voluntary Disclosure Programme (SVDP) is a clear indication of the government's desire to reduce the burden of the people through taxation, Inland Revenue Board (IRB) chief executive officer Datuk Seri Sabin Samitah said.

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INDUSTRY UPDATES

Tengku Abdullah to be proclaimed as New Sultan of Pahang on January 15

PEKAN, Jan 12 (Bernama) - The Regent of Pahang Tengku Abdullah Sultan Ahmad Shah will be proclaimed as the sixth Sultan of Pahang, succeeding Sultan Ahmad Shah, on Jan 15.

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