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1.

INDIA: Goods and Services Tax Bands Formally Announced

23 May 2017

More than 1,200 individual goods and services have now been allocated across the four tax tiers specified under the terms of the incoming Goods and Services Tax (GST), the centrepiece of the governmen...Read More

2.

INDONESIA: Bank Accounts Now Open to International Tax Scrutiny

22 May 2017

Indonesian tax authorities are to be allowed to access accounts held by both citizens and overseas residents in the country’s banks and other financial institutions....Read More

3.

BRUNEI: Enhanced Rights Granted to Minority Shareholders

18 May 2017

Shareholders of any Brunei-registered business are to have the right to attend company meetings and speak with regard to any matter arising. The change, an amendment to Brunei’s Companies Act, has bee...Read More

4.

MALAYSIA: Sarawak Imposes 6,000% Tax Hike to Protect Hill Timber

16 May 2017

The government of Sarawak state is to increase the tax on hill timber by more than sixty times, taking it from a maximum of RM0.80 (US$0.18) to RM50 (US$11.5) per cubic metre. The new rate will apply ...Read More

5.

INDIA: Central Bank Given New Powers in Crackdown on Loan Defaulters

10 May 2017

The country’s central bank, the Reserve Bank of India (RBI, has now been granted the right to instruct other banks and financial institutions to begin insolvency resolution proceedings against parties...Read More

6.

SRI LANKA: Private Company Registration Fee Cut by 73%

8 May 2017

The fee for the registration of a Private Limited Company has been reduced from LKR 15000 (US$97) to LKR 4000 (US$26)....Read More

7.

LAOS: Laos Signs Deal to Operate Port Facilities in Neighbouring Vietnam

26 April 2017

Laos is to develop and operate the Vung Ang Port in neighbouring Vietnam. With no coastal access of its own, Laos has secured a 50-year deal to manage the facility, with an option to extend the arrang...Read More

8.

INDIA: 250,000 Dormant Businesses to be Purged from Register of Companies

21 April 2017

Some 250,000 businesses across India face being struck off the Register of Companies on the grounds of inactivity. The purge will apply to any company that has either failed to commence business opera...Read More

9.

THAILAND: 50% Cut in Corporate Tax Added to Incentives for Coastal Corridor Investors

10 April 2017

A 50% reduction in corporate income tax (CIT) over a five-year period is now on offer to investors in Thailand’s Eastern Economic Corridor (EEC), which straddles three coastal provinces ̶̶ Chachoengsa...Read More

10.

MALAYSIA: Statutory Bankruptcy Discharge and Higher Initiation Threshold Introduced

7 April 2017

Bankruptcy proceedings can now only be initiated against companies that owe RM50,000 (US$11,280) rather than the previous threshold of RM30,000 (US$6,768)....Read More

11.

INDIA: Legislation Paves Way for Rationalisation of Indirect Taxation

6 April 2017

Four supplementary bills are set to be adopted in the run-up to the July 1 enactment of the Goods and Services Tax (GST), the centrepiece of the Indian government’s bid to rationalise the country’s fr...Read More

12.

INDONESIA: Deadline for Tax Returns Extended to 21 April

5 April 2017

The 31 March deadline for filing of income tax returns has been extended to 21 April for individual tax payers. However, no additional time will be given with regard to payments, with any overdue taxe...Read More

13.

INDIA: Small Businesses to Get 5% Corporate Income Tax Cut from Incoming Finance Bill

27 March 2017

Companies with an annual turnover of INR500 million (US$7.6 million) or less are to pay corporate income tax (CIT) at a reduced rate of 25%, a 5% cut from the current rate....Read More

14.

VIETNAM: Government Urges Social Media Advertising Boycott in Bid to Purge Dissident Content

23 March 2017

The government has called for a boycott of social media advertisement until such platforms are free of any or all anti-government content. Already several multinational companies with operations in Vi...Read More

15.

VIETNAM: 40 FDI Projects Lose Licence Over Excessive Delays and Lack of Progress

10 March 2017

The investment permits for 40 FDI Projects have been cancelled. All of the projects were based in the southern Dong Nai province, not far from Ho Chi Minh City, and all had either been abandoned or su...Read More

16.

INDIA: Accelerated Trademarking Process Cuts Paperwork While Increasing Fees

8 March 2017

The number of application forms required to register a trademark in India has been slashed from 74 to just eight, as the government looks to streamline this once notoriously lengthy process....Read More

17.

VIETNAM: 20% Cap on Lending Rates Set to be Abolished

6 March 2017

The 20% cap on lending rates for banks and other credit agencies in Vietnam is to be abolished as of 15 March. In line with a directive from the country’s central bank, lenders will now be free to agr...Read More

18.

CAMBODIA: Two-Year Corporate Tax Exemption on Offer to SMEs that Opt to Go Legit

1 March 2017

SMEs that voluntarily register with Cambodia’s General Department of Taxation (GDT) before the end of 2018 are to be exempt from Corporate Income Tax (CIT) for two consecutive years....Read More

19.

INDONESIA: SMEs and Professionals Targetted During Closing Weeks of Tax Amnesty

14 Feb 2017

With its nine-month tax amnesty set to end on 31 March, the Indonesian government is focussing on SMEs and professional individuals over the closing weeks of the initiative....Read More

20.

INDIA: Foreign Investment Promotion Board Scrapped as FDI Regime Faces Further Liberalisation

9 Feb 2017

With the country’s Foreign Investment Promotion Board (FIPB) now set to be scrapped, all future FDI proposals requiring prior government approval will be solely handled by the relevant ministries....Read More

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