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1.

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

2.

VIETNAM: Investment Incentives and Casino Licences Planned for Three New SEZs

17 Aug 2017

Land leases of up to 99 years are to be offered to investors in three new Special Economic Zones (SEZs), which are to be established in line with Vietnam’s incoming Law on Special Economic Zones, whic...Read More

3.

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

4.

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

5.

BANGLADESH: Corporate Income Tax Cut to 12% in Readymade Garment Sector

14 Aug 2017

The corporate income tax (CIT) rate for producers and exporters of readymade garments (RMG) has been cut from 20% to 12%. The tax cut, announced on 5 August, will retrospectively apply from 1 July 201...Read More

6.

INDIA: Expedited Customs Clearance Prioritised in Line with Overall WTO Commitments

11 Aug 2017

Under the terms of the recently announced National Trade Facilitation Action Plan (NTFAP), perishable goods are to be cleared by the Indian customs authorities within 12 hours of their initial import,...Read More

7.

MYANMAR: Emeralds and Diamonds Now Exempt from Special Commodity Tax

11 Aug 2017

The production, sale, export and import of emeralds and diamonds is to be exempt from the Special Commodity Tax (SCT). Prior to this change in legislation, the two were liable for SCT at a rate of 10%...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.

UAE: First Details Published of Incoming Tax Administration and Compliance Requirements

8 Aug 2017

The first details of the administration and compliance requirements relating to the country’s new tax regime were announced on 31 July, following the enactment of the Tax Procedures Law, the legal bas...Read More

10.

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

11.

LAOS: Registration of All Packaged Products Now Mandatory

4 Aug 2017

All pre-packaged products traded in or with Laos as will now have to be registered in their original packaged form with the Ministry of Science and Technology prior to being exported, imported, re-pac...Read More

12.

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

13.

THAILAND: Exporters of Potential Dual Use Items to Face Increased Customs Scrutiny

1 Aug 2017

Exporters of items with a potential dual use – such as goods that are ostensibly designed for commercial use but could have a military application – will now have to comply with a number of additional...Read More

14.

PHILIPPINES: Pangasinan Investors Wooed with Tax Breaks and Streamlined Processing

31 July 2017

Investors in the northern province of Pangasinan (Luzon Island) are to be eligible for exemptions from corporate income tax (CIT) for at least five years under the terms of the provincial government’s...Read More

15.

MYANMAR: FDI Proposals of US$5 Million or Less Now Only Require Regional Approval

31 July 2017

Proposals for investment projects valued at less than US$5 million will no longer be accepted by the Myanmar Investment Commission (MIC)....Read More

16.

LAOS: Would-be Tourism Investors Wooed with Tax Exemptions and Freedom from Land Lease Fees

26 July 2017

Would-be investors in the country’s tourism sector are set to be wooed by exemptions from tax on all profits for up to four years, as well as freedom from land lease fees for a 10-year period....Read More

17.

BANGLADESH: FDI in Readymade Garment Sector Now Permissible Outside EPZs

24 July 2017

The country’s readymade garment (RMG) sector is to be opened up to foreign direct investment (FDI) for the first time. Previously RMG FDI had only been permitted within the country’s export processing...Read More

18.

UAE: Processing Time for Labour Dispute Resolution Cut to 10 Days

24 July 2017

The official processing time for the settlement of labour disputes is to be reduced from 30 days to just 10. This has been facilitated by a number of measures recently adopted by the Ministry of Human...Read More

19.

THAILAND: Trade Competition Act Details Prohibited Practices and M&A Requirements

21 July 2017

The incoming Trade Competition Act, effective as of 5 October, specifies a list of prohibited activities deemed unfair trade practices, while also establishing the Office of Trade Competition Commissi...Read More

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