From today (Feb. 14) onwards, Singapore will implement a 15 per cent increase in excise duty across all tobacco products. Excise duty is duty levied on goods manufactured in, or imported into, Singapore, according to the Singapore Customs website. This will discourage the consumption of tobacco products, Finance Minister and Deputy Prime Minister Lawrence Wong announced […]
Read MoreSINGAPORE – A global minimum effective tax rate of 15 per cent will be introduced for large Singapore multinational enterprises (MNEs) in 2025, amid a broader international move to ensure a more transparent tax environment. Singapore will also implement a domestic top-up tax that will raise large MNE groups’ effective tax rate here to 15 […]
Read MoreThe Malaysian economy closed 2022 on a strong note, with the fourth quarter GDP posting year-over-year growth of 7 percent. Growth for the entire year was 8.7 percent. Indonesia’s economy grew more slowly at 5.3 percent, but it was still the fastest rate in nine years. Coming on the heels of similarly robust economic growth in the Philippines, 2023 […]
Read MoreThe Bank of Thailand says it wants to see household debt levels below 80% of gross domestic product to help reduce economic and financial risks. Household debt in the third quarter of last year was 86.8% of GDP, down from 88.1% in the previous quarter, and 90.1% in the fourth quarter of 2021. Before the […]
Read MoreKUALA LUMPUR: Malaysia has no plans to reintroduce a goods and services tax (GST) or any other broad-based consumption tax, Prime Minister Anwar Ibrahim said on Tuesday. The government will instead look to reduce subsidies enjoyed by the wealthy, Anwar, who is also finance minister, told parliament. Anwar, who took office in November, has ordered […]
Read More(Bloomberg) — Singapore’s budget on Tuesday is expected to emphasize a return to pre-pandemic fiscal conservatism, without undermining support to the most vulnerable from rising costs of rent, transport and food. As the city-state stares down persistent inflation and a bleak global growth outlook, the government will likely prioritize measures to blunt the impact of […]
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