ASIA BUSINESS CONSULTING 的动态

Asia M&A Platform operated by M&P Asia has posted a new Article "Vol. 23: Indonesia’s 2025 12% VAT UPDATE : Decision on 12% VAT rate on Selective Taxable Goods and Services". “On December 31, 2024, the Ministry of Finance issued regulation No. PMK-131/2024 on 31 December 2024 signed by Ministry of Finance herself Sri Mulyani Indrawati regarding Value Added Tax (VAT) Treatment on Import of Taxable Goods and Services, Utilization of Taxable Goods, Intangibles and Services inside Custom Area. This decision was taken by government to reach public consensus on the postponement on the VAT rate hike and keep effective 11% VAT rate on selective “non-luxury” goods and services.” Read the full article on our website [https://lnkd.in/gHuhm3vr]. Ensure your next deal is a success and we look forward to continuing to provide exceptional financial - tax services and fostering strong client relationships. M&A Platform: https://lnkd.in/gsKzQGrX

The Indonesian government has restricted the 12 percent value-added tax (VAT) to luxury goods and services, addressing public concerns and maintaining industrial competitiveness. Announced on December 31, 2024, and formalized in Finance Minister Regulation No. 131 of 2024, the policy replaces an earlier plan to raise VAT to 12 percent for nearly all goods and services. Kadin Chairman Arsjad Rasjid praised the move as vital for inclusive economic growth and protecting middle-class purchasing power. Kadin also urged businesses to compensate customers overcharged under the previous rate and pledged to support efficient tax policies aligned with national growth goals. #BritChamID #VAT #Increase Read more:

The benefits on profit tax and turnover tax for exporters and re-exporters will be cancelled from January 1 ,2025 in accordance to the draft law on Uzbekistan the state budget for 2025, which the Deputy Prime Minister presented to the deputies of the Parliament in the first reading. Currently, when exporting and re-exporting processed products, including through a commission agent (attorney), they reduce the taxable base for profit tax in terms of profit attributable to the volume of sales of goods (works, services) for export, as well as a single tax payment in terms of the volume of sales of goods for export On June 3, a presidential decree was adopted to bring national legislation into line with the rules of the World Trade Organization, according to which, from January 1, 2025, it is expected that the benefits on profit and turnover taxes for exporters, as well as partial reimbursement of transportation costs, will be abolished. The abolition of these benefits is provided for by the WTO agreement on subsidies and countervailing measures. A separate decree also abolishes exclusive rights in the fields of metallurgy, chemistry, energy and telecommunications. In addition, benefits for domestic producers in government procurement, as well as price preferences for local electrical equipment, will be partially abolished from July 2026. To date, Uzbekistan has successfully completed bilateral negotiations with 21 countries, including the United States, with 14 of them signing protocols on market access. //https://lnkd.in/gM-BZ2y9

Key Tax Implications for Companies Engaged in Export Activities Conquering the world of exports is exciting, but tax issues might stop your global dominance goals. Taxes can significantly impact profitability and competitiveness, making their comprehension and management paramount. ?? Here's a breakdown of key taxes that export-oriented businesses should be aware of: ?? Export Tax:? - This stands as one of the most crucial taxes that export businesses must navigate, which is imposed on the value of goods or services exported overseas.? - Accurate calculation and compliance with local tax regulations are essential to avoid legal issues. ?? Value Added Tax (VAT):? - This is a common tax applied to the added value of goods and services during production and distribution.? - In certain instances, export businesses may be exempt from VAT or may receive a refund of VAT paid when goods are exported internationally. ?? Environmental Tax:? - This tax ensures that businesses are held accountable for the environmental impact of their operations.? - Compliance with environmental tax regulations is crucial in today's world, particularly in industries with significant environmental considerations and applying SDGs. ?? Corporate Management Taxes:? - Export businesses must also manage other corporate taxes such as Corporate Income Tax, Personal Income Tax, and various financial and human resource-related fees and taxes.? - Managing these taxes necessitates expertise and in-depth knowledge of tax laws and accounting regulations. Remember, mastering the tax game is key to staying competitive and thriving in the international market. ?? Contact WTP Agri to develop a strategy to enter the agriculture export industry in Vietnam! ?? WTP Agri - A reputable exporter of processed fruit products in Vietnam Address: Ho Chi Minh City, Vietnam? Hotline: (+84) 971279099? Website: https://wtpagri.com Email: [email protected] —---------------------------------- #WTP_Agri #vietnam #vietnamexport #agricutural #vietnamagricutural #exportagricutural #tax #export

Carbon tax crucial for fair competition amid EU carbon tariff, says deputy minister Malaysia's steel industry needs both the carbon tax and carbon tariff?to remain competitive, said Deputy Investment, Trade and Industry Minister Liew Chin Tong. A carbon tax is crucial to ensure steel imports are taxed similarly, and to provide a level playing field for local producers, together with the Carbon Border Adjustment Mechanism (CBAM), he said during an iron-and-steel industry conference. “We have to collect the carbon tax to create a level playing field for Malaysian steel operations,” Liew said. “Since Malaysian steel producers have to pay the?tax, imports from other countries should also pay the tax to ensure fair competition.” he CBAM, which imposes a carbon price on goods imported into the European Union (EU), will tack on additional costs for exports from Malaysia unless the country implements its own carbon pricing system. Malaysia imports most of the iron and steel it consumes from Southeast Asia, China and Taiwan. Revenue from the carbon tax, which was mentioned in Budget 2025, will be channelled into Malaysia’s green transition fund, in line with global trends where transitions are partially funded through carbon tax collection, Liew said. “Why should we allow potential tax revenues to be given to Europe through the CBAM, when we could tax and retain the revenues for funding the industry's transition?” he added. Preparing for carbon tax and carbon tariff The immediate impact of the EU’s carbon tariff on Malaysia’s steel exports is limited, though it has wider implications for how the world views sustainability, said Yeoh Wee Jin, the secretary general of the South East Asia Iron and Steel Institute.? “The CBAM is driving a shift toward green technologies, even if its direct impact on our steel exports is minimal,” Wee said during a panel discussion at the conference organised by the Malaysian Iron and Steel Industry Federation. The potential tax revenues would not only support local businesses, but also encourage a faster shift towards sustainable practices in the steel sector, he said. "The carbon tax is necessary, but it can hurt the competitiveness of the industry in terms of imports and exports,” Wee noted. “That's why the CBAM is essential," Wee said, urging the government to establish the right framework before rolling out the carbon tax. He also called for a clear timeline for the implementation of the?tax, with a phased or progressive rollout to avoid industry disruptions, and asked for government financial support in the form of grants and incentives to help steel companies adapt to the new requirements. “Without these measures, the carbon tax could make our steel industry less competitive globally,” he warned. https://lnkd.in/demDgHWv

Thailand’s government introduced a new policy in May 2024 that will significantly impact the country’s international trade landscape. The Ministry of Finance and the Revenue Department have proposed a new tax scheme aimed at imposing a 7% Value-Added Tax (VAT) on all imported goods, including those valued at less than 1,500 Thai Baht (THB). For more information, please check out our latest blog post: https://lnkd.in/gNz9EWmy #Thailand #Bangkok #ThaiLaw #SoutheastAsia #InternationalTrade #ImportExport #VAT #CustomsDuty #GlobalTrade #BusinessThailand #DoingBusinessinThailand #TaxCompliance #SupplyChainManagement #FinancialPlanning #ThailandVAT #ThailandNewVATLaw #ThailandImportTax #ThailandBusinessUpdate

Argentina's economy has started to recover. Tax collection reached $13,379,446 million in May, a 320.9% year-on-year variation, above the expected 280% inflation. If the effect of inflation is discounted, tax revenues rose 10% year-on-year in real terms and showed the first recovery after several consecutive months of decline due to the collapse of activity. "After 8 consecutive months of real year-on-year decline, in May 2024, national tax collection would have increased by 10% in real year-on-year. The collection that would have increased the most in real terms would be the PAIS tax with 251.4%, followed by Profits with 80% and in third place export rights with 11%", estimated Nadin Arga?araz, head of the IARAF. According to the AFIP,?the net VAT collected $3,097,296 million, an interannual variation of 204.2% nominal. Tax VAT, which measures mass consumption, increased by 220.7%, affected by the increase in the calculation of VAT Refunds to Exporters and the Grain Marketing Regime about the previous year. In comparison, Customs VAT increased by 189 1% in May, when products in the basic basket were exempt from VAT collection. One of the main collection drivers?was the Income Tax with a jump of 585.8%,?collecting $5,511,952 million. "This result is linked to the expiration of the balance of the Sworn Declaration for the 2023 fiscal period of the Companies with the end of December, which is the most important of the year and was characterized by the good performance of the Financial Activity," the AFIP reported. In this way, according to the IARAF,?Profits would have increased by 80% year-on-year?in real terms,?the highest collection in the last 27 years. "The main reason for this record is because, with such a significant devaluation of the peso in December 2023, companies with dollarized assets registered significant capital gains, which implied that they paid much more income tax," explained Arga?araz. Source: El Clarin

???? Guinea-Bissau to Implement VAT Regime in 2025 ???? Starting January 1, 2025, Guinea-Bissau will introduce a Value Added Tax (VAT) system, aligning with the West African Economic and Monetary Union (UEMOA) standards. This move aims to enhance tax collection efficiency and boost government revenue. Key Details: -VAT Rates: 10% for specified imports, transfers of goods, and services. 19% for other imports, transfers of goods, and services. 0% for exports. -Registration Thresholds: Businesses with annual turnover exceeding FCFA 10 million (approx. EUR 15,000) must register for VAT. Turnover between FCFA 10 million and FCFA 40 million qualifies for a simplified VAT regime. Turnover below FCFA 10 million are exempt from VAT. This development marks a significant step in reforming Guinea-Bissau's tax system, replacing the less efficient General Tax on Sales and Services. Businesses operating in the region should prepare for this transition to ensure compliance and avoid potential penalties. For a comprehensive overview, read the full article: https://lnkd.in/dVQx5U_V How will this new VAT regime impact your business operations in Guinea-Bissau? #VATImplementation #GuineaBissau #TaxReform #UEMOA #BusinessCompliance

Key Findings of Tax Expenditure Report of Pakistan 2024 i. Total Federal Tax expenditure based on data of FY 2022-23 is estimated at Rs. 3,879.20 billion. The breakup under various tax regimes is given below: a. Income Tax: Rs. 476.96 billion (6.66% of FBR’s collection, 12.30% of total expenditure and 0.57% of GDP). b. Sales Tax: Rs. 2,858.72 billion (39.91% of FBR’s collection, 73.69% of total expenditure and 3.40% of GDP). c. Customs Duty: Rs. 543.52 billion (7.59% of FBR’s collection, 14.01% of total expenditure and 0.65% of GDP). https://lnkd.in/dwqjAxe3 ii. The total expenditure is 54.15% of FBR’s collection for FY 2022-23 increased from 36.43% in PFY. iii. The total expenditure is approximately 4.61% of GDP during FY 2022-23 as against 3.36% in the PFY. #ati