Taxation

Almost US$20 billion in dirty money linked to corruption, crime and tax evasion has left Myanmar in the past five decades, slashing government revenue and driving a thriving underground economy, a money-laundering watchdog said on 9 September. Fraudulent invoicing of trade deals and physical smuggling of drugs, ...

The Ministry of Finance plans to forgo fines imposed on businesses which were behind their tax due date if their partners, including state agencies, had failed to pay them on time in accordance with contract terms. Keep reading ...

The Vietnam Chamber of Commerce and Industry and General Department of Taxation, under the Ministry of Finance, revealed a report on the satisfaction of businesses with the tax administrative procedures reform in 2014 in Hanoi on 11 August. Keep reading ...

Vietnam has found an effective way to crack down on tax laggards as it struggles to fund infrastructure projects and curb rising debt: make the names of the offending businesses public to shame them into paying up. The Ministry of Finance published a first-ever list of ...

Provincial administration organisations (PAOs) in Thailand’s three southern border provinces have agreed to delay imposing a new local tax on fuel sales, which led to a brief protest by local pump stations 13 July.  Motorists  in Pattani, Yala and Narathiwat were left high and dry after most ...

Tax offices in Hanoi and Ho Chi Minh City have released lists of hundreds of businesses with huge overdue taxes in an effort to shame them into paying the money. They also threatened to block bank accounts or invalidate invoices of businesses that fail to ...

Foreigners will no longer need a local partner to set up businesses in Myanmar and may be granted a five-year tax holiday from the start of commercial operations, according to the draft of a new investment law obtained by Reuters.  Keep reading ...