Taxation

In the first eight months of the year the Ministry of Mines and Energy has already surpassed its annual target for non-tax revenue collection from sand dredging and construction material-related mining operations, collecting 117 percent of the $6.6 million outlined in the 2016 national budget, ...

Vietnam has made some strides in administrative reform but local enterprises are still grappling with administrative procedures relating to taxes, sub-licenses and inspections, heard at a meeting between National Assembly deputies and businesses on October 3. Aside from capital, market and technology, the business community needs ...

Mandalay City’s municipal authority is staring at a long development to-do list, and a lack of funds to do it with, the mayor told regional lawmakers last week. Improving Myanmar’s second-biggest city will depend on finances, U Ye Lwin, mayor and head of Mandalay City Development ...

Over US$1 billion has been disbursed in various business activities and the development of special and specific economic zones, driven by growing regional economic integration. Almost 300 companies from Laos and overseas are now investing in the SEZs, with a total registered capital of almost US$8 ...

Only certain species of trees grown in managed plantations may be exported, not all species, the government spokesman said last week. Eucalyptus and kathinnalong trees whose trunks measure 12 centimetres or less may be felled for export but trees with larger trunks must not be used ...

International lawyers have welcomed Myanmar’s new investment law, saying it will create a better investment environment for both local and foreign investors once enforced. Jo Daniels, managing partner of Baker & McKenzie Myanmar, said at a media roundtable that the new law could be one ...

The government has stressed the need to clearly define revenue sources and to expand electronic collection methods to assist the budget. The moves aim to ensure all revenue from available sources can be collected for the national budget, minimising problems related to financial leaks. Prime Minister Thongloun ...

The state operator of Sihanoukville’s deep-sea port has pushed back the expected date of its initial public offering to February 2017 in order to give the company more time to resolve land titling and taxation issues, a company official said on August 11. Ty Sakun, ...

Thai retail giant Central Group has declared around US$89.6 million in tax on its acquisition of Vietnam’s biggest foreign-owned supermarket chain Big C, local media reported. Big C Vietnam, which declared the tax on behalf of its new owner, has paid $17.03 million of the amount, ...

Deputy Prime Minister Prajin Juntong on 20 June told the Information and Communications Technology Ministry and Thaicom to seek agreement over the latter paying an annual concession fee to the ministry for the use of the Thaicom 7 and 8 satellites. Takorn Tantasith, the National Broadcasting and ...