Tax & Revenue

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Book Imports, Purchases to remain Tax-Exempt: DOF

MANILA, Sept 25 (PNA) - The Department of Finance (DOF) has assured the public on Tuesday that the purchase and importation of books will remain tax exempt under the second tax reform package of the Duterte administration.

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50 per cent Cigarette Excise must be for Health Services: President

Jakarta, Sept 19 (ANTARA News) - President Joko Widodo laid emphasis here on Wednesday that 50 percent of the receipts from cigarette excise must be directed for health services.
Date: 19 September 2018; Type: Legal News; Source: Antara

Cabinet approves VAT Refund for Welfare Card Holders

PHETCHABUN, Sept 18 (NNT) - Thailand's Cabinet has agreed to help low-income people further by entitling them to a partial rebate of value-added tax (VAT) on purchases made using their state welfare card.
Date: 18 September 2018; Type: Legal News; Source: National News Bureau of Thailand

Guide on Sales Tax Rates for Various Goods

This guide notifies the various Sales Tax Rates of goods based on Gazetted Orders.
Date: 08 September 2018; Type: Guide; Source: Malaysia Sales & Service Tax (SST)

Guide on Transitional Rules

This transitional guide is prepared to assist taxable persons in understanding matters with regards to transitional issue related to the transition and rationalization of Goods and Service (GST) to Sales and Service Tax (SST). From 1 September 2018, SST 2018 together with its respective subsidiary legislation are introduced to replace the GST Act 2 ...
Date: 05 September 2018; Type: Guide; Source: Malaysia Sales & Service Tax (SST)

Sales Tax Guide on Return and Payment

This guide provides information pertaining to the requirements and procedures for submitting the sales tax return in a prescribed form (SST-02) and make sales tax payments under the Sales Tax Act 2018.
Date: 04 September 2018; Type: Guide; Source: Malaysia Sales & Service Tax (SST)

Sales Tax Guide on Registration

The guide is prepared to assist businesses in understanding matters with regards to service tax registration requirements and procedures under Sales Tax Act 2018. From 1 September 2018, Sales Tax Act 2018 and the Service Tax Act 2018 together with its respective subsidiary legislation are introduced to replace the Goods and Service Act 2014.
Date: 25 August 2018; Type: Guide; Source: Malaysia Sales & Service Tax (SST)

Service Tax Guide on Return and Payment

This guide provides information pertaining to the requirements and procedures for submitting the Service Tax return in a prescribed form (SST-02) and make Service Tax payments under the Service Tax Act 2018.
Date: 04 September 2018; Type: Guide; Source: Malaysia Sales & Service Tax (SST)

Sales Tax Guide on Automotive Industry

This guide is prepared to assist registered manufacturers and importers in the automotive industry, in understanding matters pertaining to sales tax treatment on the activities of manufacturing, importation and transportation of motor vehicles, sales value and import value, in accordance with the policies and legislations related to sales tax.  ...
Date: 23 August 2018; Type: Guide; Source: Malaysia Sales & Service Tax (SST)

Sales Tax Guide on Manufacturing and Import/Export

This guide is prepared to assist registered manufacturers and the industries (excluding automotive) in understanding matters pertaining to sales tax chargeable on goods manufactured and imported, or sales and transportation of finished goods manufactured in accordance with the policies and legislation related to sales tax. The Sales Tax A ...
Date: 23 August 2018; Type: Guide; Source: Malaysia Sales & Service Tax (SST)

General Guide on Service Tax

The General Guide on Service Tax is a part of a series of educational materials made available to help businesses prepare for the implementation of the imposition of service tax in Malaysia.
Date: 07 September 2018; Type: Guide; Source: Malaysia Sales & Service Tax (SST)

IRAS e-Tax Guide on GST: Partial Exemption and Input Tax Recovery (Fourth Edition)

This e-Tax Guide explains the partial exemption rules and input tax recovery rules.
Date: 23 August 2018; Type: Guide; Source: Inland Revenue Authority of Singapore

Service Tax Guide on Advertising Services

This Guide is prepared to assist a registered person in understanding the service tax treatment on advertising services. From 1 September 2018, the provision of advertising services under prescribed circumstances are subject to service tax.
Date: 23 August 2018; Type: Guide; Source: Malaysia Sales & Service Tax (SST)

Service Tax Guide on Parking Service

This guide is prepared to assist a registered person in understanding the service tax treatment on parking service. From 1 September 2018, any person who operates or provides parking spaces for a motor vehicle where parking charges are imposed is subject to service tax.
Date: 23 August 2018; Type: Guide; Source: Malaysia Sales & Service Tax (SST)

First Philippine Utilities Corporation v Commissioner of Internal Revenue

Date: 04 September 2018; Court: Court of Tax Appeals; Citation: CTA EB No. 1659; Source: Court of Tax Appeals

50 per cent Cigarette Excise must be for Health Services: President

Jakarta, Sept 19 (ANTARA News) - President Joko Widodo laid emphasis here on Wednesday that 50 percent of the receipts from cigarette excise must be directed for health services.

Effective "tax refund" to be attractive for Foreign Tourists: Minister Direktur Jenderal Pajak v But Deutsche Bank Ag Direktur Jenderal Pajak v PT Bank CIMB Niaga Tbk 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

More Taxes to be levied on Alcohol, Cigarettes

The government has submitted its Union Taxation Bill for the 2018-2019 fiscal year, which includes higher tax rates on alcohol and cigarettes, to the Pyidaungsu Hluttaw.

IRD to launch Integrated Tax Administration System Parliament mulls Maintaining Tax Rates to Offset Forex Pressure Government removes 2 per cent of withholding Tax on Domestic Payments more

Book Imports, Purchases to remain Tax-Exempt: DOF

MANILA, Sept 25 (PNA) - The Department of Finance (DOF) has assured the public on Tuesday that the purchase and importation of books will remain tax exempt under the second tax reform package of the Duterte administratio ...

First Philippine Utilities Corporation v Commissioner of Internal Revenue Commissioner of Internal Revenue v First Philippine Holdings Corporation and Another Appeal SC affirms 10-Centavo Levy on Marine Transport of Oil more

Cabinet approves VAT Refund for Welfare Card Holders

PHETCHABUN, Sept 18 (NNT) - Thailand's Cabinet has agreed to help low-income people further by entitling them to a partial rebate of value-added tax (VAT) on purchases made using their state welfare card.

Social Welfare Cardholders to be exempted from VAT NLA passes Tax Break for Parents with Two Children Welfare Card holders to get VAT Rebate during This Year's Fourth Quarter more

INDUSTRY UPDATES

Indonesia hands over Chairmanship of ASEAN Committee to Thailand

Jakarta, Sept 25 (ANTARA News) - Indonesian Ambassador to Kuwait, Tatang Budie Utama Razak, handed over the chairmanship of ASEAN Committee in Kuwait (ACK) for the period of January-June 2018 to ACK Chairman of the next period, Ambassador of Thailand to Kuwait, Dusit Manapan, on Sept 19.

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NLA receives Support from Labor Groups for Enactment of New Labor Protection Law

BANGKOK, Sept 26 (NNT) - Representatives of various labor groups have expressed support for the National Legislative Assembly’s enactment of a new version of the Labor Protection Act.

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House holds Marathon Budget Deliberations to meet October Deadline

MANILA, Sept 25 (PNA) - The House of Representatives is holding marathon deliberations - even extending the plenary session until the wee hours - on the proposed PHP3.757-trillion 2019 national budget to meet its approval deadline by October 12, Speaker Gloria Macapagal-Arroyo said on Tuesday.

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DOJ awaits BI Comments, Records on Fox Deportation Case

MANILA, Sept 25 (PNA) - Justice Secretary Menardo Guevarra has asked the Bureau of Immigration (BI) to file a formal comment on the petition for review of the government's deportation order against Australian missionary nun Patricia Fox.

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IPOPHL to roll out Green Lane for Trademark Applications

MANILA, Sept 25 (PNA) - The Intellectual Property Office of the Philippines (IPOPHL) is set to roll out a ‘green lane’ for trademark applications that will slash the average processing time for registration, which currently takes about eight months to be approved.

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BSP warns Public against Frauds, Scams

LEGAZPI CITY, Sept 25 (PNA) - The Bangko Sentral ng Pilipinas (BSP) on Tuesday warned the public against frauds and scams, in the wake of the fast approaching holiday season.

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Corporate Income Tax cuts won't lead to Job Losses

MANILA, Sept 25 (PNA) - Finance Undersecretary Karl Chua said the removal of certain incentives under the proposed tax reform measure will not result in job losses.

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Yangon Court allows Trial to resume in Celebrity Slaying

Yangon Region High Court decided on Monday to let the trial go ahead in the murder of Facebook celebrity Aung Ye Htwe and cancel the order by the district court to withdraw the case.

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Fundamental Freedoms must be aligned with International Standards - Dewan Rakyat Speaker

KUALA LUMPUR, Sept 25 (Bernama) - Parliamentarians have to ensure that the Federal Constitution and laws relating to freedom of expression, access to information and press freedom are in line with international human right standards, said Dewan Rakyat Speaker Datuk Mohamad Ariff Md Yusof.

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SME Mart to assist Entrepreneurs Market Products Overseas

SHAH ALAM, Sept 24 (Bernama) - SME Mart, an initiative introduced by Dewan Ekonomi Usahawan Malaysia (DEUM) will serve as a platform for Small and Medium Enterprise (SME) entrepreneurs to sell their products on both the local and international market.

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SGX proposes New “trade at close” Session for Securities Market

Singapore Exchange (SGX) is seeking public feedback on the proposed introduction of a new trading session for the securities market, the “trade at close” (TAC), which will take place after the closing auction routine ends.

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PHL Officials to brief UK Investors on Opportunities in Infra, Other Sectors

A Duterte Cabinet delegation led by Finance Secretary Carlos Dominguez III will embark on a three-day mission to London this week to brief British investors on the vast business opportunities in the country’s infrastructure, energy and tourism sectors and explore ways to expand economic cooperation between the Philippines and the United Kingdom.

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DOF thanks House for Final OK of Corporate Tax Reform Bill

The Department of Finance (DOF) has thanked the House of Representatives for approving on third and final reading the bill seeking to lower the corporate income tax (CIT) and correct the convoluted incentives system for businesses, as it expressed optimism that the Senate would pass a similar measure soon enough to enable the people to reap the benefits of a fair, transparent and accountable tax system in the form of more investments and jobs.

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PH Ambassador to Bahrain participates in a Roundtable on International Labor Standards

MANAMA, Sept 24 - Philippine Ambassador to Bahrain Alfonso A. Ver participated in a roundtable discussion on various International Labor Organization’s (ILO) conventions on foreign workers with the ILO Direct Contact Mission to Bahrain on 18 September 2018.

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HK Business Seminar puts Spotlight on Investment Opportunities in PH

HONG KONG, Sept 24  - Top-level government officials reassured potential investors in Hong Kong that the Philippines under President Rodrigo Duterte is working “non-stop” to ensure that the necessary policies, fiscal measures and legal framework relating to ease of doing business and investments are in place.

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MAS outlines Enforcement Approach to deter, detect and investigate Breaches of Rules and Regulations

Singapore, Sept 24 - The Monetary Authority of Singapore (MAS) has published an Enforcement monograph to provide greater clarity and transparency into how MAS deters, detects, investigates and takes action against breaches of the rules and regulations it administers. The monograph outlines how MAS’ Enforcement Department works together with the other financial sector oversight functions in MAS to uphold Singapore’s reputation as a clean and trusted financial centre.

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International Maritime Community re-affirms Co-operation in the Straits of Malacca and Singapore

More than 180 participants from around 80 maritime administrations and organisations, as well as embassies in Singapore, attended the 11th Co-operation Forum this morning, where they reaffirmed their commitment to strengthen cooperation in the Straits of Malacca and Singapore (SOMS).

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Chartered Accountant and Lawyer among those who joined Scheme as Proxy Decision-Makers

Lawyer Haryadi Hadi, 35, decided to be a professional deputy as he has wealthy clients who are single, childless or have strained ties with their loved ones and they cannot find anyone to be their proxy decision-makers should they become mentally incapacitated.

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