Tax & Revenue

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Tax Measures approved to promote setting up of International Firms' Headquarters in Thailand

BANGKOK, June 19 (NNT) - The cabinet approved a draft decree on tax discounts and waivers to promote the establishment of international companies' headquarters in Thailand, said Government Spokesman Lt Gen Sansern Kaewkamnerd.

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Cabinet approves Tax Incentives for Research Investment by MNCs

BANGKOK, June 20 (NNT) - The Cabinet has approved tax incentives for multi-national corporations’ investment in research and development to promote innovations and technology in Thailand. The spokesman of the Prime Minister’s Office, Lt. Gen. Sansern Kaewkumnerd said on Tuesday that the weekly Cabinet meeting approved in principle ...
Date: 20 June 2018; Type: Legal News; Source: National News Bureau of Thailand

Government removes 2 per cent of withholding Tax on Domestic Payments

The Ministry of Planning and Finance yesterday released its latest notification (47/2018) on withholding tax, which replaces notification (51/2017) released May 22, 2017.
Date: 20 June 2018; Type: Legal News; Source: Myanmar Times

Amended Law offers No Exception to VAT Charge

All enterprises that have been registered and have obtained a tax ID will have to comply with the Value Added Tax Law. Deputy Prime Minister and Minister of Finance, Mr Somdy Duangdy, yesterday presented a draft of the amended Law on Value Added Tax to the National Assembly to consider and approve.
Date: 20 June 2018; Type: Legal News; Source: Vientiane Times

IRAS e-Tax Guide on Avoidance of Double Taxation Agreements

This e-Tax Guide provides taxpayers with guidance on the interpretation and application of Singapore’s Double Taxation Agreements (DTAs) and the Mutual Agreement Procedure under Singapore’s DTAs.
Date: 08 June 2018; Type: Guide; Source: Inland Revenue Authority of Singapore

Customs (Duties) (Amendment No. 2) Order 2018

This Order comes into operation on 24 June 2018.
Date: 11 June 2018; Type: Federal Subsidiary Legislation; Citation: No. S 390; Source: Singapore Statutes Online

Summary of Responses to the Public Consultation on GST: Taxing Imported Services by Way of Reverse Charge and Taxing Imported Services by way of an Overseas Vendor Registration Regime

This is to notify that the Inland Revenue Authority of Singapore (IRAS) had received a total of 43 feedback submissions on the two draft e-Tax Guides, “GST: Taxing imported services by way of reverse charge” and “GST: Taxing imported services by way of an overseas vendor registration regime”. The IRAS has carefully considere ...
Date: 31 May 2018; Type: Feedback; Source: Inland Revenue Authority of Singapore

Revised Application Procedures for Customs eServices

This is to notify that with effect from 20 June 2018 the application forms for the certificates will be available through the National Trade Platform website. Notice No. 12/2018
Date: 12 June 2018; Type: Circular; Source: Customs Department

Customs (Duties) (Exemption) (Amendment) Order 2018

This Order comes into operation on 24 June 2018.
Date: 11 June 2018; Type: Federal Subsidiary Legislation; Citation: No. S 391; Source: Singapore Statutes Online

Customs (Manufacturing Licence) (Exemption) (Amendment) Order 2018

This Order comes into operation on 24 June 2018.
Date: 11 June 2018; Type: Federal Subsidiary Legislation; Citation: No. S 392; Source: Singapore Statutes Online

Philippine International Air Terminals Co Inc v Commissioner of Internal Revenue

Date: 06 June 2018; Court: Court of Tax Appeals; Citation: CTA Case No. 9181; Source: Court of Tax Appeals

GST: Guide on Insurance and Takaful

This revised Guide is prepared to assist in understanding the Goods and Services Tax and its implications on the insurance and takaful industry.
Date: 26 March 2018; Type: Guide; Source: GST Royal Customs

San Miguel Holdings Corp v Commissioner of Internal Revenue

Date: 05 June 2018; Court: Court of Tax Appeals; Citation: CTA Case No. 9401; Source: Court of Tax Appeals

Commissioner of Internal Revenue v Lepanto Consolidated Mining Corporation

Date: 04 June 2018; Court: Court of Tax Appeals; Citation: CTA EB No. 1584; Source: Court of Tax Appeals

Solid-One Mills Phils Inc v Commissioner of Internal Revenue

Date: 01 June 2018; Court: Court of Tax Appeals; Citation: CTA EB No. 1562; Source: Court of Tax Appeals

Amended Law offers No Exception to VAT Charge

All enterprises that have been registered and have obtained a tax ID will have to comply with the Value Added Tax Law. Deputy Prime Minister and Minister of Finance, Mr Somdy Duangdy, yesterday presented a draft of ...

Pay Taxes or face Closure, Thousands of Businesses warned Issue of Illegally Imported Cars remains unresolved Revised Laws the Key to boosting Revenue Collection more

Government removes 2 per cent of withholding Tax on Domestic Payments

The Ministry of Planning and Finance yesterday released its latest notification (47/2018) on withholding tax, which replaces notification (51/2017) released May 22, 2017.

Property weak on Canned Tax Amnesty Bill Tax Amnesty Law under Review, will be “Fair,” Minister says Yangon Tax Rates and Fines under Scrutiny more

Tax Measures approved to promote setting up of International Firms' Headquarters in Thailand

BANGKOK, June 19 (NNT) - The cabinet approved a draft decree on tax discounts and waivers to promote the establishment of international companies' headquarters in Thailand, said Government Spokesman Lt Gen Sansern Kaewka ...

Cabinet approves Tax Incentives for Research Investment by MNCs Cabinet extends Measure to promote Registration of Juristic Entities till Year’s End Commerce Ministry to petition US for Tax Exemption more

INDUSTRY UPDATES

Government under rising pressure to correctly tax Ride-Hailing Companies

Since June 13, ride hailing companies operating in Yangon have been obliged to pay income and commercial tax to the Yangon government under the law, U Myint Thaung, regional minister of Planning and Finance said in parliament.

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INDUSTRY UPDATES

PM Prayut: Death Penalty is Legitimate and most People agree

BANGKOK, June 20 (NNT) - The Prime Minister, Gen. Prayut Chan-o-cha, has voiced support for the execution of convicted murderers.

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INDUSTRY UPDATES

Government welcomes Opinions about Implementation of Thailand 4.0 Policy

BANGKOK, June 19 (NNT) - The government continues efforts to implement the Thailand 4.0 policy while welcoming opinions from all sides on helping to achieve its goal.

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INDUSTRY UPDATES

On World Refugee Day, De Lima files Bill to protect Refugees and Stateless Persons

In observance of World Refugee Day, Opposition Senator Leila M. de Lima today filed a measure seeking to promote and protect the rights of refugees and stateless persons in the country and prescribe a fair procedure for their status determination and eligibility.

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INDUSTRY UPDATES

MoF invites Feedback on proposed changes to the Income Tax Act

The Ministry of Finance have invited interested parties to provide feedback on the draft Income Tax (Amendment) Bill 2018 from 20 June to 11 July 2018.

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INDUSTRY UPDATES

Labor Ministry aims to find Jobs for 100,000 Unemployed Graduates

BANGKOK, June 19 (NNT) - The Labor Minister, Pol. Gen. Adul Sangsingkeo, said the Ministry of Labor aims to find jobs for about 100,000 unemployed graduates within three months.

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INDUSTRY UPDATES

Ex-President Aquino sued over DAP Mess

MANILA, June 20 (PNA) - Ombudsman Conchita Carpio Morales has indicted former President Benigno Simeon Aquino III for usurpation of legislative powers in connection with the alleged anomalous Disbursement Acceleration Program (DAP).

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INDUSTRY UPDATES

Duterte appoints CA, Sandiganbayan Associate Justices

MANILA, June 20 (PNA) - President Rodrigo R. Duterte has appointed new associate justices at the Court of Appeals (CA) and Sandiganbayan. Duterte appointed Emily Aliño-Geluz as CA Associate Justice and Georgina Dumpit Hidalgo as Sandiganbayan Associate Justice.

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INDUSTRY UPDATES

Panelo on Sereno ouster: ‘The Law may be harsh, but it is the Law’

MANILA, June 20 (PNA) - “The law may be harsh, but it is the law.” Chief Presidential Legal Counsel Salvador Panelo made this remark following the Supreme Court’s decision affirming the quo warranto petition, which ousted Ma. Lourdes Sereno as Chief Justice.

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INDUSTRY UPDATES

Carpio to decline Nominations as Next CJ

MANILA, June 20 (PNA) - Acting Chief Justice Antonio Carpio on Wednesday said he would decline all nominations for the top judiciary post, stressing that he doesn't want to benefit from the quo warranto petition which ousted Chief Justice Ma. Lourdes Sereno.

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INDUSTRY UPDATES

SC begins Oral Arguments on Same-Sex Marriage

MANILA, June 20 (PNA) - The Supreme Court (SC) on Tuesday started the oral argument on the petition filed last May 2015 challenging the validity of provisions of the Family Code limiting marriage to heterosexual couples.

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INDUSTRY UPDATES

PCC to draft List of Fair Competition Violators

MANILA, June 20 (PNA) - The Philippine Competition Commission (PCC) announced that it will soon generate a list of industries within the manufacturing sector that violate laws on fair competition.

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INDUSTRY UPDATES

Government announces New MIC Appointments, U Thaung Tun as New Chair

The Union government on Saturday officially announced changes in the ranks of the Myanmar Investment Commission (MIC).

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INDUSTRY UPDATES

Laos, Vietnam strengthen Digital Cooperation

Laos and Vietnam have agreed to cooperate in the field of digital information technology after reaching an agreement in Vientiane on Tuesday at the Lao Blockchain Forum.

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INDUSTRY UPDATES

Special Committee to monitor Prices after Zero GST

KOTA KINABALU, June 20 (Bernama) - An activist on human rights and consumerism in Sabah today suggested the setting up of a special committee to ensure traders and wholesalers in Sabah reduce or maintain the low price of their goods following the abolishment of the Goods and Services Tax (GST) last June 1.

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