Tax & Revenue

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’Trabaho’ Bill reaches House Plenary

MANILA, Aug 14 (PNA) - The administration’s second tax reform package which aims to lower Corporate Income Taxes (CIT) and modernize incentives was sponsored before the plenary of the House of Representatives on Tuesday.

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No SST for Construction Services, some Building Materials

KUALA LUMPUR, Aug 12 (Bernama) - The pressure on house prices, industrial and commercial buildings is expected to ease off with the abolition of the Goods and Services Tax (GST) and exemption of some building materials from the Sales and Services Tax (SST), Finance Minister Lim Guan Eng said. He said the federal government hoped that the const ...
Date: 12 August 2018; Type: Legal News; Source: Bernama

Permit Requirements for the Import Export Transhipment and Bringing-in-Transit of Goods Originating from or Destined for the Democratic People’s Republic of Korea

This is to notify that the import, export, transhipment, and transit of any goods that are for the purposes of trade with any person in the Democratic People’s Republic of Korea is strictly prohibited under the Seventh Schedule of the Regulation of Imports and Exports Regulations. Notice No. 14/2018
Date: 10 August 2018; Type: Circular; Source: Customs Department

Advisory: Customs Permit Required for Removal of Goods from Licensed and Zero-GST Warehouses

This is to notify that removal of goods from the licensed or Zero-GST warehouse without proper Customs permit is an offense which is punishable under the Customs and Goods and Services Tax (GST) Acts. Duty and GST may also be recovered for goods which have been illegally removed from the Licensed and Zero-GST warehouses without a proper customs per ...
Date: 08 August 2018; Type: Circular; Source: Customs Department

Myanmar ready to give Tax Holiday to Indonesian Investors

Jakarta, Aug 9 (ANTARA News) - Myanmar has expressed readiness to give a tax holiday to Indonesian businessmen wishing to invest in that country.
Date: 09 August 2018; Type: Legal News; Source: Antara

Bill to repeal GST passed

KUALA LUMPUR, Aug 8 (Bernama) - The Dewan Rakyat today approved the abolition of the Goods and Services Tax (GST) introduced three years ago. The Goods and Services Tax (Repeal) Bill 2018 was passed by a voice vote after being read for the third time by Finance Minister Lim Guan Eng. When reading the bill for the third time, Lim said in j ...
Date: 08 August 2018; Type: Legal News; Source: Bernama

Government to refund GST Input Tax Credit Next Year

KUALA LUMPUR, Aug 8 (Bernama) - Finance Minister Lim Guan Eng said the Pakatan Harapan government will seek to refund the input tax credit under the Goods and Services Tax (GST) starting next year.
Date: 08 August 2018; Type: Legal News; Source: Bernama

Companies should Seek Legal Advice on GST Refunds

KUALA LUMPUR, Aug 9 (Bernama) - Companies which are unable to collect their Goods and Services Tax (GST) refunds from the Royal Malaysian Customs Department should seek legal advice, said Lee Hishamuddin Allen & Gledhill (LHAG) Partner, S. Saravana Kumar.
Date: 09 August 2018; Type: Legal News; Source: Bernama

TRABAHO Bill approved by Ways and Means Committee

After six rounds of deliberation, the Tax Reform package for Attracting Better and High-quality Opportunities (TRABAHO) was approved by the House Committee on Ways and Means chaired by Rep. Dakila Carlo Cua (Lone District, Quirino). Former President and now Speaker Gloria Macapagal-Arroyo was also present in the meeting.
Date: 07 August 2018; Type: Legal News; Source: House of Representatives

IRAS e-Tax Guide on Country-by-Country Reporting (Third Edition)

This e-Tax guide provides taxpayers with guidance on the purpose and procedures to be followed while submitting the Country-by-Country (CbC) Reports. Where a Singapore MNE group is required to file a CbC Report with the Comptroller for a financial year, it must be done through an electronic submission within 12 months from the end of that financial ...
Date: 07 August 2018; Type: Guide; Source: Inland Revenue Authority of Singapore

House Panel approves Second Tax Reform Package

MANILA, Aug 7 (PNA) - A House of Representatives panel on Tuesday approved the administration’s second tax reform package that aims to lower corporate income taxes and modernize incentives. The House ways and means committee, chaired by Quirino Rep. Dakila Cua, approved the substitute bill entitled TRABAHO - Tax Reform for Attracting Bet ...
Date: 07 August 2018; Type: Legal News; Source: Philippine News Agency

Stamp Duties (Amendment) Bill

This Bill seeks to amend Chapter 312 of the Stamp Duties Act, principally to apply the Act to an electronic record that wholly or partly effects a transaction, or evidences a matter, that is the same as a transaction or matter effected or evidenced by an instrument chargeable with duty.
Date: 06 August 2018; Type: Federal Bill; Citation: Bill No. 30/2018; Source: Singapore Statutes Online

Government has no Plan to cancel Tourism Tax

KUALA LUMPUR, Aug 6 (Bernama) - The Ministry of Tourism, Arts and Culture has no intention of cancelling the tourism tax imposed on foreign tourists since Sept 1 last year.
Date: 06 August 2018; Type: Legal News; Source: Bernama

Accomplice of GST Fraud Mastermind put in Jail

Sng Kay Heng (“Sng”), 46, the sole proprietor of general wholesale trade firm, Strikey Trading, was found guilty and convicted of making false entries in the GST returns of his business entity which resulted in GST refunds totalling $30,806.61.
Date: 02 August 2018; Type: Legal News; Source: Inland Revenue Authority of Singapore

Tax Agreements with Latvia and Nigeria to enter into Force

The second Protocol amending the Agreement for the Avoidance of Double Taxation (the Protocol) between Singapore and the Republic of Latvia, signed on 20 April 2017, entered into force on 3 August 2018.
Date: 03 August 2018; Type: Legal News; Source: Inland Revenue Authority of Singapore

Effective "tax refund" to be attractive for Foreign Tourists: Minister

Jakarta, Aug 3 (ANTARA News) - Minister of Tourism Arief Yahya believes that an effective "tax refund" policy will be the main attraction for shopping in Indonesia.

Direktur Jenderal Pajak v But Deutsche Bank Ag Direktur Jenderal Pajak v PT Bank CIMB Niaga Tbk PT Mekarsari Alam Lestari v Direktur Jenderal Pajak more

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

No SST for Construction Services, some Building Materials

KUALA LUMPUR, Aug 12 (Bernama) - The pressure on house prices, industrial and commercial buildings is expected to ease off with the abolition of the Goods and Services Tax (GST) and exemption of some building materials f ...

Bill to repeal GST passed Government to refund GST Input Tax Credit Next Year Companies should Seek Legal Advice on GST Refunds 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

’Trabaho’ Bill reaches House Plenary

MANILA, Aug 14 (PNA) - The administration’s second tax reform package which aims to lower Corporate Income Taxes (CIT) and modernize incentives was sponsored before the plenary of the House of Representatives on Tu ...

TRABAHO Bill approved by Ways and Means Committee House Panel approves Second Tax Reform Package House Panel approves 'in principle' TRAIN 2 more

INDUSTRY UPDATES

CJ Bets face JBC Grilling Over Income, Properties in SALN

MANILA, Aug 16 (PNA) - The contents of the Statements of Assets, Liabilities and Net Worth were among the issues raised by members of the Judicial Council (JBC) in Thursday's public interview for aspirants vying for the Chief Justice post.

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Reyes, Tejano-Ang Wrap up JBC Interview for CJ Post

MANILA, Aug 16 (PNA) - Supreme Court Associate Justice Andres Reyes Jr., and Judge Virginia Tejano-Ang of the Regional Trial Court Branch 1 in Tagum City, Davao del Norte were the last two aspirants for Chief Justice who went under questioning by the Judicial and Bar Council (JBC) on Thursday.

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De Castro to revive Key Reform Projects once picked as CJ

MANILA, Aug 16 (PNA) - Despite her imminent retirement from the judiciary in less than two months, Associate Justice Teresita Leonardo-De Castro on Thursday said she will be able to introduce reforms in the Supreme Court (SC) once named Chief Justice.

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Bersamin: No Pressure Felt from Gov't in Rulings on Cases

MANILA, Aug 16 (PNA) - Associate Justice Lucas Bersamin on Thursday said he has never felt any pressure from other government branches in rendering decisions on various cases.

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Court of Appeal Judge reprimanded by His Superior over Dissenting Judgment

KUALA LUMPUR, Aug 16 (Bernama) – A Court of Appeal Judge has today disclosed that he had been reprimanded by a top judge for writing a dissenting judgment in unilateral conversion of M.Indira Gandhi case two years ago.

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Judicial Activism has Led to Renaissance in Administrative Law, says Academician

KUALA LUMPUR, Aug 15 (Bernama) – There is more judicial activism now which has led to a renaissance in administrative law, according to an academician.

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Cabinet acknowledges Progress in Thailand-Myanmar Cooperation in fighting Drug Trade

BANGKOK, Aug 15 (NNT) - The Cabinet has acknowledged progress made in Thailand’s cooperation with Myanmar in tackling drug problems in the border area.

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NLA whip to decide on proposed Amendment of EC Act - VP Surachai

BANGKOK, Aug 15 (NNT) - The National Legislative Assembly whip will be the person responsible for the ultimate decision to proceed with a proposed amendment of the Election Commission Act, says the legislature’s Vice President Surachai Liengboonlertchai.

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CA confirms Poll Exec, Foreign Service, Military Officers' Appointment

MANILA, Aug 15 (PNA) - Commission on Elections (Comelec) Commissioner Marlon Casquejo and several foreign service and military officers hurdled the Commission on Appointments (CA) on Wednesday.

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House installs Yap, Pichay as New Deputy Speakers

MANILA, Aug 15 (PNA) - The House of Representatives on Wednesday elected two new deputy speakers following the ascension of Pampanga Rep. Gloria Macapagal-Arroyo to the speakership.

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Five CJ bets to face JBC Interview Thursday

MANILA, Aug 15 (PNA) - The five candidates for the post of Chief Justice of the Supreme Court (SC) will walk into the line of fire with their Judicial and Bar Council (JBC) interview set on Thursday.

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IRD to build ICT System enabling Tax Payments

Taxpayers may soon be able to pay their dues to the government via mobile banking, said U Min Htut, director general of the Internal Revenue Department (IRD).

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Law Enforcement remains weak: Deputy Minister

Laos has enacted over 100 laws since national liberation in 1975, but law enforcement remains weak, a senior official has admitted.

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Exercise of Freedom must be in accordance to Federal Constitution - Eddin Syazlee

JOHOR BAHRU, Aug 14 (Bernama) - The exercise of individual’s right to freedom, be it freedom of religion or speech, must be done in accordance to the provisions in the Federal Constitution, says Deputy Communications and Multimedia Minister Eddin Syazlee Shith.

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International Malaysia Law Conference 2018

The 4-day International Malaysia Law Conference (“IMLC”) 2018, the flagship biennial event of the Malaysian Bar themed “Raising the Bar: Innovate. Integrate. Emulate.” is underway.

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IMLC 2018: Change of Government an impetus for strengthening the Rule of Law, says Sultan Nazrin Shah

KUALA LUMPUR, Aug 14 (Bernama) - The recent change of government in Malaysia has given a fresh impetus to strengthen the rule of law in the country, the Sultan of Perak, Sultan Nazrin Shah said today.

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1Mine urges Government to postpone SST

KUALA LUMPUR, Aug 14 (Bernama) - The government has been urged to postpone implementation of the Sales and Services Tax (SST) come Sept 1 until a directive on the newly passed tax law is clearly outlined.

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Seizure of Equanimity made according to Legal Procedures - Liew Vui Keong

KUALA LUMPUR, Aug 14 (Bernama) - Minister in the Prime Minister’s Department Datuk Liew Vui Keong told the Dewan Rakat today that the seizure of the superyatch Equanimity was made according to Malaysian procedures and laws.

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