Other Briefings
Indonesia to Relax Tax Burden on Mineral Exports
The Indonesian government is finalizing a set of new regulations that will reduce the export tax on mineral concentrates for mining companies operating in the country. In order to avail the reduced export taxes, eligible mining companies must agree to build a smelter in Indonesia.
Singapore’s Trade Minister Talks Up Free Trade Agreements
Singapore’s Trade Minister praised the city-state’s participation in regional and global trade deals that will help position the country as a nexus for international business.
Praise for the U.S. – Philippines Partnership for Growth
During his visit to the Philippines last week, U.S. President Obama reaffirmed the United States’ commitment to economic cooperation with the Philippines and highlighted the ongoing role of the U.S.-Philippines Partnership for Growth for continued economic and policy support.
Philippines to Offer Tax Breaks to Global Film Production Industry
A bill has been introduced in the Philippine Senate that would grant tax incentives to foreign and local film production companies in an effort to promote the country’s film industry and create a market for “film tourism.”
Thailand Offers Tax Deductions on R&D
Thailand has launched an online expense certification service to help businesses demonstrate they meet the qualifications necessary for a 200 percent research and development (R&D) tax deduction.
Tax Hike Makes Luxury Cars in Indonesia Even More of a Luxury
Regulations issued by the Indonesian Ministry of Finance hike the luxury-goods sales tax (LCT) on luxury cars by two-thirds to 125 percent.
Singapore–Barbados DTA Comes Into Effect
The newest of Singapore’s now 75 double taxation agreements (DTA), signed between the city-state and the island nation of Barbados, went into effect on Friday last week. The agreement is expected to boost cross-border trade and investment between Singapore and Barbados by clarifying both parties’ taxation rights so as to avoid double taxation.
RMB Builds Presence in ASEAN as Singapore Becomes Second Largest Clearing Center
Singapore has reclaimed the ranking of second largest clearing center for Renminbi in the world. Only Hong Kong has a greater share of the market.
Internet Speeds Across ASEAN
According to the results of an analysis by ASEAN DNA, only two ASEAN member states – Singapore and Thailand – currently have internet speeds above the global average of 17.7 Mbps.
East Java Attracts Second Largest Amount of FDI in Indonesia
The Indonesian province of East Java attracted US$3.39 billion in foreign direct investment in 2013, the second largest amount in the country after Jakarta, the capital of Indonesia. This amount represented a growth of 91.5 percent over 2010.
