ASEAN’s Free Trade Agreements: An Overview
WEBAug 20, 2021 · It is important for foreign investors to understand ASEAN’s free trade agreements (FTAs) to capitalize on the bloc’s long-term potential. These FTAs offer numerous benefits such as tax holidays, improved custom clearances, and reduced import costs. ASEAN could become the world’s fourth-largest economy by 2030, comprising of …
A Guide to Taxation in the Philippines - ASEAN Briefing
WEBJul 16, 2024 · The CIT of 25 percent is levied on net income on all sources. Non-resident companies are taxed only on their Philippine-sourced income. Domestic companies are taxed on their worldwide income. The Ease of Paying Taxes Act, also known as Republic Act No. 11976, became effective on January 22, 2024.
The Guide to Employment Permits for Foreign Workers in the …
WEBJul 12, 2022 · There will be a monthly charge of three percent for any overdue contributions to the SSS program. Employers contribute PHP 1,600 (US$28.38) per month for employees in the highest salary bracket. The employee themselves will contribute PHP 80 (US$1.41) to PHP 800 (US$14.20) based on their salary bracket.
Rules of Origin Criteria of ASEAN’s Free Trade Agreements
WEBJan 4, 2018 · RELATED: Pre-Investment and Market Entry Advisory from Dezan Shira & Associates. RVC requires that a certain percentage of the good’s value must originate in a FTA member country for the good to be considered as originating. Under ASEAN’s FTAs, this percentage is generally 40 percent of the Free on Board (FOB).
Import and Export Procedures in the Philippines – Best Practices
WEBJun 23, 2017 · In 2015, the Philippines exported goods valued at US$77.9 billion and imported products worth US$76.8 billion. The Philippines’ top export destinations are China, Japan, the United States, and Singapore; and the country’s top import partners are China, Japan, Korea, the United States, and Thailand. In this article we explain best practices ...
The Guide to Thailand’s Import and Export Procedures - ASEAN …
WEBDec 26, 2016 · By Dezan Shira & Associates Editor: Harry Handley Since the implementation of the Foreign Business Act of 1999, foreign businesses set up in a range of industries in Thailand must have a Thai majority shareholder. One line of business that is exempt from this is import/export trading. This exemption, along with developed infrastructure and a solid legal framework, have made Thailand a hub for ...
A Guide to Taxation in Malaysia - ASEAN Briefing
WEBJan 10, 2023 · The sales tax rates are 10 percent, and the service tax rate is six percent. Some goods are taxed at a reduced rate of five percent. Dezan Shira & Associates’ tax professionals have a deep understanding of Asia’s tax environments. The sales tax rate is levied on companies with taxable goods sales value exceeding 500,000 ringgit (US$114,000 ...
The Guide to Employment Permits for Foreign Workers in Indonesia
WEBMay 22, 2024 · For a local company to employ a foreign worker, they must prepare a Foreign Worker Utilization Plan (Rencana Penggunaan Tenaga Kerja Asing (RPTKA)) — a document that details the specific work, position, and length of employment the foreign employee will undertake in Indonesia.The RPTKA now also serves as the basis for the MOM to grant visas and stay permits.
The Philippines’ Relationship With ASEAN - ASEAN Briefing
WEBMar 22, 2017 · ASEAN is one of the cornerstones of the Philippines’ foreign and trade policies. This is manifested in the Philippines policy to promote a more peaceful, stable, and free South East Asia, through the pursuit of different initiatives, in the policy making, economic, trading and functional cooperation activities.
Indonesia's Positive Investment List: Sectors Open to Foreign …
WEBJun 28, 2024 · Indonesia’s Positive Investment List allows foreign investment in over 200 business sectors, including transportation, energy, and telecommunication. Foreign investors can fully own a business in these sectors unless subject to specific limitations. The positive investment list classifies business fields into four categories, which are ...