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Parliament: Tax incentive for Industrial Estates not taken up - Guan Eng

KUALA LUMPUR, Oct 15 (Bernama) - The government has provided 100 per cent income tax exemption for five years to companies that undertake activities that are qualified in industrial estates, but it was not taken up, said Finance Minister Lim Guan Eng.

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Duterte to announce Oil Excise Tax Hike Suspension

MANILA, Oct 14 (PNA) - President Rodrigo R. Duterte is set to announce his decision on the temporary suspension of the scheduled oil excise tax hike for 2019, as price of oil in the international market is projected to remain at USD80 per barrel level in the coming months.
Date: 14 October 2018; Type: Legal News; Source: Philippine News Agency

Government has no Plans to abolish Tourism Tax

PUTRAJAYA, Oct 13 (Bernama) - The government does not intend to abolish the Tourism Tax imposed on every foreign tourist visiting Malaysia, said Minister of Tourism, Arts and Culture (Motac) Datuk Mohamaddin Ketapi. He said the ministry took note of the grumblings of the tourists on the tax, especially among backpackers, but the tax was still ...
Date: 13 October 2018; Type: Legal News; Source: Bernama

Stamp Duty (Exemption) (No. 2) Order 2018

This Order comes into operation on 1 January 2019.
Date: 12 October 2018; Type: Federal Subsidiary Legislation; Citation: P.U. (A) 258 of 2018; Source: AGC Federal Gazette

Updates on Advance Ruling System for GST

This is to notify that it is the responsibility of the supplier to ask for an advance ruling on the taxability of his supply of goods or services. The supplier and his customer may also submit a joint application.
Date: 11 October 2018; Type: Regulation; Source: Inland Revenue Authority of Singapore

Smart Communications Inc v The Municipality of Jones Isabela

Date: 08 October 2018; Court: Court of Tax Appeals; Citation: CTA EB No. 1671; Source: Court of Tax Appeals

Commissioner of Internal Revenue v Pacific Bayview Properties Inc

Date: 08 October 2018; Court: Court of Tax Appeals; Citation: CTA EB No. 1677; Source: Court of Tax Appeals

IRAS e-Tax Guide on GST: Advance Ruling System (Third Edition)

This e-Tax Guide explains the GST advance ruling system and the application procedures.
Date: 11 October 2018; Type: Guide; Source: Inland Revenue Authority of Singapore

Sales Tax (Rates of Tax) (Amendment) (No. 2) Order 2018

This Order comes into operation on 9 October 2018.
Date: 08 October 2018; Type: Federal Subsidiary Legislation; Citation: P.U. (A) 254 of 2018; Source: AGC Federal Gazette

Service Tax (Amendment) (No. 2) Regulations 2018

These Regulations come into operation on 9 October 2018.
Date: 08 October 2018; Type: Federal Subsidiary Legislation; Citation: P.U. (A) 255 of 2018; Source: AGC Federal Gazette

Boss of Interior Design Firm to pay Penalty of more than $400,000 for under-declaring Income

Lim Hong Hee (“Lim”), a 62-year-old sole proprietor of Classic Furniture Design and Renovation Works (“Classic”), an interior design firm, has been convicted for filing incorrect income tax returns for Years of Assessment (YAs) 2006 to 2009 and 2011, which had resulted in $293,977 in taxes undercharged.
Date: 05 October 2018; Type: Legal News; Source: Inland Revenue Authority of Singapore

IRAS e-Tax Guide on Tax Treatment Arising from Adoption of FRS 116 or SFRS(I) 16

This e-Tax guide provides guidance on tax treatment for entities adopting Financial Report Standard 116 or Singapore Financial Reporting Standard (International) 16 (FRS 116 / SFRS(I) 16).
Date: 08 October 2018; Type: Guide; Source: Inland Revenue Authority of Singapore

Two Bills raising Excise Taxes on Alcohol up for Consolidation

Former President and now House Speaker Gloria Macapagal-Arroyo on Tuesday attended the meeting of the House Committee on Ways and Means chaired by Rep. Estrellita Suansing (1st District, Nueva Ecija), which approved the creation of a Technical Working Group (TWG) that will consolidate two bills seeking to raise and restructure the excise tax on alc ...
Date: 02 October 2018; Type: Legal News; Source: House of Representatives

Tax Exemption for Small-Scale Gold Miners hurdles House

MANILA, Oct 8 (PNA) - The House of Representatives on Monday approved on final reading a measure exempting small-scale gold miners from paying income and excise taxes.
Date: 08 October 2018; Type: Legal News; Source: Philippine News Agency

House Panel okays Mining Tax Reform

MANILA, Oct 8 (PNA) - The House of Representatives ways and means committee on Monday approved a substitute bill, which aims to establish the fiscal regime for the mining industry.
Date: 08 October 2018; Type: Legal News; Source: Philippine News Agency

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

Parliament: Tax incentive for Industrial Estates not taken up - Guan Eng

KUALA LUMPUR, Oct 15 (Bernama) - The government has provided 100 per cent income tax exemption for five years to companies that undertake activities that are qualified in industrial estates, but it was not taken up, said ...

Government has no Plans to abolish Tourism Tax Stamp Duty (Exemption) (No. 2) Order 2018 Sales Tax (Rates of Tax) (Amendment) (No. 2) Order 2018 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

Duterte to announce Oil Excise Tax Hike Suspension

MANILA, Oct 14 (PNA) - President Rodrigo R. Duterte is set to announce his decision on the temporary suspension of the scheduled oil excise tax hike for 2019, as price of oil in the international market is projected to r ...

Smart Communications Inc v The Municipality of Jones Isabela Commissioner of Internal Revenue v Pacific Bayview Properties Inc Two Bills raising Excise Taxes on Alcohol up for Consolidation more

Updates on Advance Ruling System for GST

This is to notify that it is the responsibility of the supplier to ask for an advance ruling on the taxability of his supply of goods or services. The supplier and his customer may also submit a joint application.

IRAS e-Tax Guide on GST: Advance Ruling System (Third Edition) Boss of Interior Design Firm to pay Penalty of more than $400,000 for under-declaring Income IRAS e-Tax Guide on Tax Treatment Arising from Adoption of FRS 116 or SFRS(I) 16 more

Tax payers with Health Insurance can have Taxes deducted automatically

BANGKOK, Oct 5 (NNT) - Tax payers no longer have to present proof of their health insurance payments to have their income taxes deducted under a move by the Revenue Department to have the Office of Insurance Commission ( ...

Cabinet approves Tax Incentives for Establishment Hong Kong Economic and Trade Office in Thailand Cabinet approves VAT Refund for Welfare Card Holders Social Welfare Cardholders to be exempted from VAT more

INDUSTRY UPDATES

House absent at Court during Advocates' Law Judicial Review Session

Jakarta, Oct 18 (ANTARA News) - The House of Representatives (DPR) did not attend the Constitutional Court (MK) session on the judicial review of Article 16 Law No.18/2003 regarding advocates immunity rights.

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INDUSTRY UPDATES

Solon files Bill on Overtaking Cyclists

MANILA, Oct 18 (PNA) - A party-list lawmaker at the House of Representatives is pushing for a measure requiring a minimum distance of 1.5 meters for motorists overtaking cyclists.

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INDUSTRY UPDATES

Hontiveros optimistic PRRD will sign Pet Bills into Law

MANILA, Oct 18 (PNA) - Senator Risa Hontiveros on Thursday said she is confident that President Rodrigo Duterte would sign several bills that she authored and sponsored into law.

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INDUSTRY UPDATES

JBC interviews Two Bets for Supreme Court Justice

MANILA, Oct 18 (PNA) - The Judicial and Bar Council (JBC) on Thursday conducted its public interview for two aspirants for the Supreme Court (SC) Associate Justice vacancy following the retirement of Chief Justice Teresita Leonardo-de Castro.

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INDUSTRY UPDATES

PM tables Mid-Term Review of 11th Malaysia Plan in Dewan Rakyat

KUALA LUMPUR, Oct 18 (Bernama) - Prime Minister Tun Dr Mahathir Mohamad today tabled the Mid-Term Review of the 11th Malaysia Plan (11MP - 2016-2020) in the Dewan Rakyat.

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INDUSTRY UPDATES

SC allows Media Coverage of de Lima Drug Case Trials

MANILA, Oct 17 (PNA) - The Supreme Court (SC) allowed news coverage of Senator Leila de Lima’s trials for alleged drug trading activities before the Muntinlupa City Regional Trial Court (RTC).

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INDUSTRY UPDATES

House supports Placement of Migrant Workers through One Channel

Jakarta, Oct 16 (ANTARA News) - Chairman of the House of Representatives` (DPR`s) Commission IX Dede Yusuf supported the placement of Indonesian migrant workers through the One Channel Placement System (SPSK) agreed upon by Indonesia and Saudi Arabia.

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INDUSTRY UPDATES

Industry 4.0 to put Indonesia among Top 10 Economies

Jakarta, Oct 17 (ANTARA News) - The fourth industrial revolution, also known as industry 4.0, is expected to make Indonesia one of the top 10 economies in the world in 2030, Industry Minister Airlangga Hartarto said.

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INDUSTRY UPDATES

Government encourages SMEs to go Digital

Jakarta, Oct 16 (ANTARA News) - The government encourages national small and medium enterprises or SMEs to take advantage of the digitalization era by using online networks to expand their businesses.

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INDUSTRY UPDATES

WIPO Director General Conferred the Order of Sikatuna

World Intellectual Property Organisation (WIPO) Director General Dr. Francis Gurry has received the highest Presidential honour of diplomatic merit in recognition of his extraordinary efforts to sustain and strengthen WIPO’s relations with the Philippine government, through the Intellectual Property Office of the Philippines (IPOPHL).

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INDUSTRY UPDATES

PH Ambassador Promotes ASEAN Trade, Tourism in Spain

MADRID, Oct 16 (DFA) - To raise awareness about ASEAN and promote ASEAN trade and tourism in Spain, Philippine Ambassador to Spain Philippe J. Lhuillier and the other ASEAN Ambassadors in Madrid paid a courtesy call on the Spanish Minister for Industry, Trade, and Tourism Maria Reyes Maroto Illera.

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INDUSTRY UPDATES

BOC, PCG Ink MOA for Strengthened Joint Anti-Smuggling Operations

The chiefs of the Bureau of Customs (BOC) and the Philippine Coast (PCG), on Monday, October 15 signed a Memorandum of Agreement (MOA) which provides them guidelines in the conduct of anti-smuggling joint operations within the country’s borders.

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INDUSTRY UPDATES

PH Showcases Best Practice on Anti-Poverty

NEW YORK, Oct 12 (DFA) - The Philippines underscored the crucial need to use the Multidimensional Poverty Index (MPI) as an alternative measure of poverty during the High-level side-event on “Using the Multidimensional Poverty Index to guide innovative policies in all its dimensions” held on the sidelines of the 73rd Session of the United Nations (UN) General Assembly High Level Week held at the UN Headquarters in New York on 25 September 2018

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INDUSTRY UPDATES

21 Law Firms vow to create more chances for Young Lawyers

Twenty-one law firms, including Drew & Napier and Tan Rajah & Cheah, have pledged to provide more opportunities for young lawyers to represent their clients in court.

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INDUSTRY UPDATES

Thailand hosts ASEAN Disaster Assessment and Mitigation Training Course

BANGKOK, Oct 16 (NNT) - Thailand is hosting the latest ASEAN training course on regional disaster assessment and mitigation to ensure timely assistance, and enhance the reach and capability of the region’s relief efforts.

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INDUSTRY UPDATES

Del Castillo to head JBC Search for Next CJ

MANILA, Oct 16 (PNA) - Associate Justice Mariano del Castillo will sit at the helm of the Judicial and Bar Council (JBC) in screening aspirants for the vacancy in the Supreme Court (SC) following the retirement of Chief Justice Teresita Leonardo-de Castro, JBC ex-officio member and Justice Secretary Menardo Guevarra said Tuesday.

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INDUSTRY UPDATES

SC reorganizes Three Divisions as Hernando assumes Post

MANILA, Oct 16 (PNA) - The Supreme Court (SC), under Acting Chief Justice Antonio Carpio, has reorganized the membership in its three divisions following the entry of its newest member, Associate Justice Ramon Paul Hernando.

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INDUSTRY UPDATES

Non-infra Programs face Cancellation if Oil Excise Tax suspended

MANILA, Oct 15 (PNA) - Some of the Duterte administration's non-infrastructure expenditures scheduled for 2019 face possible cancellation if the implementation the oil excise tax's second tranch is put on hold due to soaring world crude prices, Finance Secretary Carlos Dominguez III said.

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