Philippine President Signs the “CREATE MORE” Act

Philippine President Signs the “CREATE MORE” Act Philippine President Ferdinand “Bongbong” Marcos Jr. signed Republic Act No. 12066 (R.A. No. 12066), also known as the “Corporate Recovery and Tax Incentives for Enterprises – Maximizing Opportunities for Rebuilding Economic Resilience” (CREATE MORE) Act, in November 2023. The main goal of this legislation is to enhance the […]
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Malaysia Raises Service Tax in 2024

Malaysia Raises Service Tax in 2024 Kuala Lumpur (VNA) – The Malaysian Government plans to raise the tax rate from 6% to 8% across an array of taxable services in March. This policy adjustment is anticipated to accrue an additional 3 billion MYR (626 million USD) in revenue, a vital move towards rectifying fiscal deficits, […]
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Philippines approves draft plan to increase tax incentives for investors

Philippines approves draft plan to increase tax incentives for investors On November 21, 2023, the Taxation Committee of the Philippine House of Representatives approved the proposed amendments to the Enterprise Recovery and Tax Incentives Act, aiming to provide more zero-tariff and value-added tax exemption benefits to enterprises in economic zones and free ports. According to […]
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The Vietnamese National Assembly has resolved to extend the deadline for value-added tax reduction until the end of June 2024 to boost the economy.

The Vietnamese National Assembly has resolved to extend the deadline for value-added tax reduction until the end of June 2024 to boost the economy. The Vietnamese National Assembly, during its 6th session on November 29, 2023, passed a resolution further extending the reduced value-added tax (VAT) period for certain goods and services until the end […]
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Singapore’s Ministry of Trade and Industry announces the signing of the “Supply Chain Agreement” under the Indo-Pacific Economic Framework (IPEF).

Singapore’s Ministry of Trade and Industry announced that 14 countries have collectively signed the “Supply Chain Agreement” under the “Indo-Pacific Economic Framework” (IPEF). On November 16, 2023, Singapore’s Ministry of Trade and Industry (MTI) announced that Minister Chan Chun Sing participated in the Indo-Pacific Economic Framework (IPEF) Ministerial Meeting in San Francisco on November 13-14. […]
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The Vietnamese government announced to reduce value-added tax in 2023!

The Vietnamese government announced to reduce value-added tax in 2023! The government has issued Agreement No. 44/2023/ND-CP on the VAT reduction policy on June 30, 2023. Effective from 2023/07/01. In order to expand relevant content in the customs field, the General Administration of Customs requires all provincial and municipal customs bureaus to implement the following […]
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Change in Goods and Services Tax (GST) Rate in Singapore

Change in Goods and Services Tax (GST) Rate in Singapore Effective from January 1, 2024, the GST rate will be adjusted from 8% to 9%. For any standard-rated supplies of goods or services that you provide on or after January 1, 2024, you must charge a GST rate of 9%. For example, if you issue […]
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2023 protection of personal data in Vietnam

2023 protection of personal data in Vietnam On April 17, 2023, the Vietnamese government issued Decree No. 13/2023/ND-CP (referred to as “Decree No. 13”) regarding the protection of personal data, which officially came into effect on July 1. The measures and conditions for safeguarding personal data are as follows: Measures for Protecting Personal Data: Organizational […]
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