Tax & Revenue

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Sabah Sales Tax Enactment amended for New System of Tax Payment

KOTA KINABALU, Nov 15 (Bernama) - The Sabah State Assembly today passed a bill to amend the Sabah Sales Tax Enactment to introduce a new system of tax payment effective Jan 1, 2019.

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Palace approves Suspension of Oil Excise Tax Hike

MANILA, Nov 14 (PNA) - Suspension of the second tranche of the oil excise tax hike in 2019 will push through as recommended by the economic managers of President Rodrigo Duterte.
Date: 14 November 2018; Type: Legal News; Source: Philippine News Agency

House keen on passing Tax Reform Package 4

MANILA, Nov 13 (PNA) - Speaker Gloria Macapagal-Arroyo on Tuesday said the House of Representatives intends to pass the fourth comprehensive tax reform program (CTRP), which is a measure on reforms of financial taxes, under the Duterte administration.
Date: 13 November 2018; Type: Legal News; Source: Philippine News Agency

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.
Date: 13 November 2018; Type: Legal News; Source: Myanmar Times

House Panel okays Tax Amnesty Bill

MANILA, Nov 12 (PNA) - The House of Representatives' ways and means committee on Monday approved the proposed tax amnesty program in a bid to enhance revenue administration and collection.
Date: 12 November 2018; Type: Legal News; Source: Philippine News Agency

Tax on Imported Online Services will be implemented in Stages

PUTRAJAYA, Nov 7 (Bernama) - The process of implementing new taxes on imported online services will be carried out in stages, says the Ministry of Finance's National Budget Office Director Johan Mahmood Merican. He said the process would begin with imported online services in the business-to-business segment, followed by the business-to-consum ...
Date: 07 November 2018; Type: Legal News; Source: Bernama

Eligible Investors to continue enjoying Incentives under TRABAHO Bill

Foreign investors that are qualified and performing well have no reason to be worried over a pending bill in the Congress that seeks to reform the country’s convoluted Corporate Income Tax (CIT) system because they will continue to enjoy incentives and an even better set of perks under the Duterte administration’s plan to make these tim ...
Date: 01 November 2018; Type: Legal News; Source: Department of Finance

Stamp Duty exemption for Purchase of First Residential Home

KUALA LUMPUR, Nov 2 (Bernama) - The government is proposing a 100 per cent stamp duty exemption on the instrument of transfer and the loan agreement for the purchase of a first residential home priced up to RM300,000.
Date: 02 November 2018; Type: Legal News; Source: Bernama

Stamp Duty rates to be restructured on January 1, 2019

KUALA LUMPUR, Nov 2 (Bernama) - The Ministry of Finance (MoF) has proposed to restructure stamp duty rates for the transfer of real property, effective Jan 1, 2019.
Date: 02 November 2018; Type: Legal News; Source: Bernama

Government to revise Real Property Gains Tax Rates

KUALA LUMPUR, Nov 2 (Bernama) - The government will revise the Real Property Gains Tax (RPGT) rates for disposals of properties or shares in property holding companies after the fifth year.
Date: 02 November 2018; Type: Legal News; Source: Bernama

GST: GST and the Gold Jewellery Industry

This e-Tax guide explains the GST principles applicable to the gold jewellery industry and to illustrate with examples how GST should be accounted for some of the common scenarios applicable to the gold jewellery industry.
Date: 01 November 2018; Type: Guide; Source: Inland Revenue Authority of Singapore

New Tax in 2019 Budget will not burden the People

CYBERJAYA, Nov 1 (Bernama) - The new tax which will be announced in the 2019 Budget tomorrow will not be a burden to the people, said Deputy Finance Minister Datuk Amiruddin Hamzah.
Date: 01 November 2018; Type: Legal News; Source: Bernama

Customs Duties (Exemption) (Amendment) (No. 4) Order 2018

This Order comes into operation on 31 October 2018.
Date: 30 October 2018; Type: Federal Subsidiary Legislation; Citation: P.U. (A) 275 of 2018; Source: AGC Federal Gazette

Grand Plaza Corporation v Commissioner of Internal Revenue

Date: 29 October 2018; Court: Court of Tax Appeals; Citation: CTA Case No. 8992; Source: Court of Tax Appeals

Income Tax (Exemption from Section 19B(10A)) Order 2018

This Order is deemed to have come into operation on 1 October 2018.
Date: 26 October 2018; Type: Federal Subsidiary Legislation; Citation: No. S 707; Source: Singapore Statutes Online

Direktur Jenderal Pajak v Yayasan Rumah Sakit Baptis

Date: 05 June 2018; Court: Supreme Court of Indonesia; Citation: SC No. 1235/B/PK/Pjk/2018; Source: Supreme Court of Indonesia

PT Krakatau Posco v Direktur Jenderal Pajak Direktur Jenderal Pajak v PT Ivo Mas Tunggal PT Krakatau Posco v Direktur Jenderal Pajak 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

Sabah Sales Tax Enactment amended for New System of Tax Payment

KOTA KINABALU, Nov 15 (Bernama) - The Sabah State Assembly today passed a bill to amend the Sabah Sales Tax Enactment to introduce a new system of tax payment effective Jan 1, 2019.

Tax on Imported Online Services will be implemented in Stages Stamp Duty exemption for Purchase of First Residential Home Stamp Duty rates to be restructured on January 1, 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

Palace approves Suspension of Oil Excise Tax Hike

MANILA, Nov 14 (PNA) - Suspension of the second tranche of the oil excise tax hike in 2019 will push through as recommended by the economic managers of President Rodrigo Duterte.

House keen on passing Tax Reform Package 4 House Panel okays Tax Amnesty Bill Eligible Investors to continue enjoying Incentives under TRABAHO Bill more

GST: GST and the Gold Jewellery Industry

This e-Tax guide explains the GST principles applicable to the gold jewellery industry and to illustrate with examples how GST should be accounted for some of the common scenarios applicable to the gold jewellery industr ...

Income Tax (Exemption from Section 19B(10A)) Order 2018 Income Tax (International Tax Compliance Agreements) (Multilateral Competent Authority Agreement on the Exchange of Country-By-Country Reports) (Amendment) Order 2018 2019 Property Tax Bills more

Government proposes New Revenue Code to Parliament

BANGKOK, Oct 19 (NNT) - The Cabinet has proposed a draft revenue code to the National Legislative Assembly (NLA). The bill aims to update the revenue code to comply with the country’s strategy on electronic payment ...

Tax payers with Health Insurance can have Taxes deducted automatically Cabinet approves Tax Incentives for Establishment Hong Kong Economic and Trade Office in Thailand Cabinet approves VAT Refund for Welfare Card Holders more

INDUSTRY UPDATES

Indonesia urges US to strengthen Economic Cooperation with ASEAN

SINGAPORE, Nov 15 (PNA) (ANTARA News) - Indonesian President Joko Widodo (Jokowi) has urged the United States of America to strengthen its economic cooperation with the ASEAN member countries based on a win-win solution instead of a zero sum game.

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INDUSTRY UPDATES

APEC Ministers prioritize tackling Barriers to ensure Prosperity for All

JAKARTA, Nov 15 (ANTARA News) - Ministers from the 21 APEC economies have convened to align their ideas for improving Asia-Pacific connectivity and deepening economic integration for stronger economic growth that benefits all people in the region.

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INDUSTRY UPDATES

Finance Ministry to launch Portal for Auction

JAKARTA, Nov 14 (ANTARA News) - The Ministry of Finance will launch a website named lelang.go.id to facilitate people to participate in the auction process as well as make this activity more informative and accessible.

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INDUSTRY UPDATES

Corruption: Court allows Tengku Adnan Bail of RM1 Million

KUALA LUMPUR, Nov 15 (Bernama) - Former Federal Territories Minister Datuk Seri Tengku Adnan Tengku Mansor who was charged in the Sessions Court here today with two counts of corruption and an alternative charge with accepting bribes of RM3 million in connection with an approval given to a company to raise the ratio plot for development at Jalan Semarak here in 2013 was allowed bail of RM1 million.

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INDUSTRY UPDATES

64,632 Malaysians declared Bankrupt over last Five Years

KUALA LUMPUR, Nov 15 (Bernama) - The Malaysia Department of Insolvency says 64,632 Malaysians aged between 18 and 44 have been declared bankrupt over the last five years.

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INDUSTRY UPDATES

SMEs should use funding from Cooperatives for Adoption of Industry 4.0

KUALA LUMPUR, Nov 15 (Bernama) - Small and medium enterprises (SMEs) can use funding from cooperatives to scale up their business in adopting the Fourth Industrial Revolution (Industry 4.0) technology, Minister of Entrepreneur Development, Datuk Seri Mohd Redzuan Yusof said.

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INDUSTRY UPDATES

92,682 Businesses have registered under SST - Lim

KUALA LUMPUR, Nov 15 (Bernama) - A total of 92,682 businesses have registered under the Sales and Services Tax (SST) regime as of Oct 23, the Dewan Rakyat heard today.

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INDUSTRY UPDATES

Lawyers raise Concerns over Move to cut Fees

In one of the Law Society's biggest townhall sessions, close to 1,000, or one in five, practising lawyers turned up on Monday to discuss with Law Minister K Shanmugam the recommended scale costs they could charge under the proposed civil justice reforms.

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INDUSTRY UPDATES

President to conduct Bilateral Meetings and Other Summit Activities

Singapore, Nov 14 (ANTARA News) - President Joko Widodo (Jokowi), on the second day of a working visit to Singapore, will hold various bilateral meetings and attend several ASEAN summits with partner countries.

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INDUSTRY UPDATES

President Jokowi highlights Indo-Pacific Concept at ASEAN Summit Plenary

SINGAPORE, Nov 14 (ANTARA News) - President Joko Widodo highlighted developments in the concept of Indo-Pacific regional cooperation during the plenary session of the 33rd ASEAN Summit held at the Suntec Convention and Exhibition Center in Singapore on Tuesday night.

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INDUSTRY UPDATES

Leaders push for modernizing ASEAN at 33rd Summit

Prime Minister Thongloun Sisoulith and leaders from other Asean member countries are pushing to modernise and strengthen Asean amid the growing digital revolution, the Lao Ministry of Foreign Affairs has said.

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INDUSTRY UPDATES

Ministers' Pay Cut to remain in Force - Guan Eng

KUALA LUMPUR, Nov 14 (Bernama) - The 10 per cent salary cut for all Cabinet ministers will remain in force, Finance Minister Lim Guan Eng said today.

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INDUSTRY UPDATES

UM bags 13th LAWASIA International Moot Competition

KUALA LUMPUR, Nov 13 (Bernama) - A group of University of Malaya (UM) Bachelor of Law (LLB) students emerged as International Champion at the 13th LAWASIA International Moot Competition held early this month.

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INDUSTRY UPDATES

Time for BNM to reimpose Financing Quota - HBA

KUALA LUMPUR, Nov 13 (Bernama) - It is time for Bank Negara Malaysia (BNM) to reimpose financing quota that the banks need to adhere to in order to assist first-time home buyers, said the National House Buyers Association (HBA).

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INDUSTRY UPDATES

Non-Lawyers can now boost Legal Knowledge for Work

Working professionals can now build up their legal knowledge in industry-specific areas through courses at the National University of Singapore's (NUS) Law Academy, which caters to both practising lawyers and non-lawyers.

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INDUSTRY UPDATES

488K nabbed for Ordinance Violations since June: NCRPO

MANILA, Nov 13 (PNA) - A total of 488,526 individuals have been apprehended for violating local ordinances since June this year, the National Capital Region Police (NCRPO) announced Tuesday.

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INDUSTRY UPDATES

Indonesia pushes ASEAN to complete RCEP Negotiation

SINGAPORE, Nov 13 (ANTARA News) - Indonesia`s Trade Minister Enggartiasto Lukita has pushed ASEAN member countries to complete eight chapters within the Regional Comprehensive Economic Partnership (RCEP) framework in a bid to meet the negotiation target with its non-ASEAN participants.

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INDUSTRY UPDATES

Awaiting ASEAN's Concrete Steps to develop e-Commerce

BOGOR, W JAVA, Nov 13 (ANTARA News) - Indonesian Trade Minister Enggartiasto Lukita and his counterparts from nine other ASEAN member countries have signed an agreement on e-commerce at the 17th ASEAN Economic Community Council Meeting in Singapore on Monday.

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