Taxing the lucrative e-commerce sector

In December, it was revealed that the government of Thailand had passed a bill that it hoped would ensure more effective tax collection, especially from e-commerce businesses.

11 May 2019

Getting a piece of the e-commerce pie

A recent report revealed that the government of Thailand has passed a bill that it hopes will ensure more effective tax collection, especially from e-commerce businesses.

10 December 2018

Asian tech firms track US losses as US tax boost wanes

Tech giants including Samsung and Tencent sank in Asian trade on Tuesday, tracking a sell-off in their US rivals and dragging most regional markets lower.While investors welcomed news that the US senate had finally passed controversial tax reforms, the deal must still be reconciled with a House bill, while the probe into alleged Russian meddling in last year's election continues to dog Donald Trump.The Dow closed at a record high on Wall Street but the Nasdaq tumbled more than one percen

5 December 2017

Singapore to ensure rich pay more in tax regime

Singapore will ensure its tax system is based on “solid” economic performance and the principle that higher income earners pay more, a senior government official said, after the prime minister signaled that the nation needs to prepare for tax increases.“It must be all based on solid economic activity,” Indranee Rajah, senior minister of state for law and finance, said in an interview on Tuesday.

22 November 2017

Indonesia jails tax dodgers to meet budget goals

In the Dutch language, gijzeling means to take someone hostage. In Indonesia, that’s how authorities describe their strategy to deal with tax dodgers, throwing dozens of people in jail as part of a national crackdown.Eight months after the government closed an amnesty programme that gave Indonesians a chance to come clean on their tax affairs, it’s taking aggressive action to deal with those who still haven’t paid up.

2 November 2017

Indonesia's economy may beat expectations, finance minister says

Indonesia’s finance minister said Southeast Asia’s biggest economy could expand at a faster pace next year than initially forecast.Economic growth may potentially be boosted by a pickup in investment in 2018, Sri Mulyani Indrawati said in an interview in Jakarta Friday.

30 October 2017

Philippine government 'on a roll' against tax evaders

The Philippine government plans to target additional companies in its crackdown on tax evasion, said Finance Secretary Carlos Dominguez.“We are on a roll, and this is part of the president’s programme to make our country more law abiding," Dominguez told Bloomberg Television’s Kathleen Hays in an interview in Washington on Friday. “Tax evasion is a really serious violation and we are going after” evaders.Dominguez said he expects a tax reform bill to receive lawmaker approval.

15 October 2017

Duterte's $17bn tax changes to benefit retailers

Mau Dizon, a marketing officer in one of the largest Philippine banks, is among millions of Filipino taxpayers who stand to benefit from President Rodrigo Duterte’s tax reform plan that aims to return to consumers 860 billion pesos (17 billion dollars) over five years.Dizon will pay lower taxes under the proposed reform and is likely to spend most of the savings on staples, which account for about a third of her family’s monthly budget.

11 October 2017

Indonesia to probe StanChart for $1.4bn client transfer

Indonesia will investigate whether citizens linked to the transfer of 1.4 billion dollars of Standard Chartered private bank client assets complied with tax amnesty requirements.The country’s Finance Ministry received data on the fund transfer for tax compliance purposes and found it involved 81 private citizens, without any military, police, law enforcement or civil servants involved, Ken Dwijugiasteadi, director-general for taxation, told reporters in Jakarta on Monday.

10 October 2017

Philippine tobacco giant pays govt $586 mn

The Philippines said Friday it has dropped a tax evasion case against the country's number-two cigarette manufacturer after it was sold to Japan Tobacco to raise funds for a record 30 billion-peso (586 million dollars) settlement.Manila had accused Mighty Corp of using counterfeit tax stamps to avoid paying 37.88 billion pesos in taxes, and threatened it with criminal charges.However in July, President Rodrigo Duterte ordered the finance department to accept a settlement, under which Mig

6 October 2017