In this issue, our feature article delves on the new tax treaty between Thailand and Singapore. The agreement on the avoidance of Double Taxation (DTA) came into effect on 1 January 2017. The new DTA benefits Singaporean investors in a number of areas, including reduced Withholding Tax (WHT) rates on
interest and royalties.
WHT rates are a recurring theme this issue, as we discuss Myanmar’s move to reduce its WHT rates on payments to non-residents and royalties paid to residents. Further, our Malaysian colleagues look at the expansion of the scope of WHT on royalties and services in the nation - more specifically in relation to broadening the definition of royalty and reinstatement of WHT on payments for services performed outside Malaysia.
We also examine the proposed tax reforms in the Philippines to lower the impact of taxation on poor and middle-class individual income earners expand the value-added tax base and adjust excise taxes, amongst others.
Read more as we continue to delve into the key tax developments in Cambodia, Indonesia and other ASEAN nations in this issue.