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1.

MALAYSIA: Overseas E-Commerce Companies to be Taxed on Malaysian Transactions

25 Sept 2017

Malaysia-based transactions by overseas digital service providers, including e-commerce operators, will become taxable once proposed amendments to the country’s relevant tax laws are enacted....Read More

2.

UAE: Online Registration for Incoming VAT to Commence from Mid-September

31 Aug 2017

The online registration of businesses for the UAE’s value added tax (VAT) regime will commence from mid-September. To facilitate the process, the UAE’s Federal Tax Authority has launched a website www...Read More

3.

CAMBODIA: Garment Sector Monthly Minimum Wage Set to Rise to US$168

25 Aug 2017

The monthly minimum wage for workers in Cambodia’s garment sector is set to increase from US$153 to US$168. While no formal date for the implementation of the measure has been announced, the increased...Read More

4.

INDIA: 28 August Deadline for Phone Manufacturers to Outline Security Procedures

22 Aug 2017

Many of the country’s leading mobile phone manufacturers, including several overseas-backed companies, have been given until 28 August to provide a written outline of the security protocols in place a...Read More

5.

MYANMAR: Companies Listed on Yangon Stock Exchange Now Qualify for 5% CIT Cut

18 Aug 2017

Companies listed on the Yangon Stock Exchange (YSX) are now eligible to pay corporate income tax (CIT) at a lower rate of 20%, which is a 5% cut from Myanmar’s standard CIT rate....Read More

6.

INDONESIA: Sedan Tax Rates Set to be Cut in Bid to Boost Domestic Auto Industry

17 Aug 2017

Taxes on the sale of sedans, currently fixed at 30-40%, are set to be cut under the proposed changes to the country’s Value Added Tax and Luxury Goods Sales Tax Law....Read More

7.

THAILAND: 7% Reduced VAT Rate Extended for 18th Time

16 Aug 2017

The country’s 7% VAT rate is to be maintained until at least September 2018. This marks the 18th time this reduced level has been extended since Thailand first introduced it in 1999....Read More

8.

VIETNAM: Government Moves to Maximise Migration to E-invoicing

10 Aug 2017

As of 2018, companies will no longer be entitled to print their own invoices. Instead, they will have the option of either sourcing printed invoices directly from the tax authorities or adopting the e...Read More

9.

BANGLADESH: 31 December Set as Deadline for Registration for New VAT Identification Code

7 Aug 2017

Any business not yet in receipt of a nine-digit VAT registration Business Identification Number (BIN) has until 31 December to complete their online registration and receive their new code....Read More

10.

MYANMAR: Tax Dodging Property Developers Face Building Completion Certificates Blacklist

4 Aug 2017

All real estate developers and construction companies found to have evaded taxes will be denied the Building Completion Certificate (BCC)....Read More

11.

INDONESIA: Singapore Banks Set to Share Detail of all Indonesian Holdings

18 July 2017

The Indonesian government is set to gain access to financial data relating to any assets held by its citizens in Singapore’s banks and other financial institutions....Read More

12.

VIETNAM Social Media Retail Transactions Now Subject to 5% Tax

17 July 2017

Any retail business that earns more than VND 100 million (US$4,350) per year from sales via social media platforms will now have to pay a tax of 5% on the proceeds....Read More

13.

INDIA: Re-designated Medical Devices Now Subject to Drug Price Regulation Regime

11 July 2017

Certain medical devices may now be re-classified as drugs at the discretion of the Ministry of Health. All such re-designated devices will then fall within the remit of the Ministry’s price regulation...Read More

14.

THAILAND: Overseas Employees Given Until 1 January 2018 to Secure Work Permits

10 July 2017

Overseas employees now have until 1 January 2018 to register with the Thai authorities and secure the relevant work permits. Previously, the requirement had been imposed, as of 23 June, with immediate...Read More

15.

CAMBODIA: Compulsory Licensing Introduced for Digital Payment Services

29 June 2017

All digital payments services providers (PSPs) in Cambodia are now required to secure an operating licence from the National Bank of Cambodia (NBC). The requirement applies equally to banks and all ot...Read More

16.

INDIA: Debts Owed by Smaller Companies Now Recoverable in 90 Days

26 June 2017

The insolvency debt recovery period has now been fast-tracked in the case of start-ups and small companies. While it currently takes 180 days to complete the process for all insolvent companies, credi...Read More

17.

MALAYSIA: Tax Evading Expats Face Entry / Exit Ban as of 1 July

21 June 2017

Any overseas worker who fails to pay their due tax liabilities will be barred from entering Malaysia or, if still resident, from leaving. As of 1 July, this ruling will apply equally to those discover...Read More

18.

BANGLADESH: Companies Now Liable for Employees’ Unpaid Income Tax

14 June 2017

Private companies looking to claim corporate tax deductions against employee wages are now obliged to ensure that workers file their own tax returns....Read More

19.

INDONESIA: 1 Billion Rupiah Bank Balances Face Tax Scrutiny

9 June 2017

All bank accounts with a balance of Rupiah 1 billion (US$75,000) or more as of the year-end will be liable to scrutiny by tax officials....Read More

20.

INDIA: Tax Rates for Textiles, Footwear and Gold Announced

8 June 2017

The relevant tiers for the textiles and footwear sectors under the terms of the incoming Goods and Services Tax (GST), effective 1 July, have now been announced....Read More

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