Indonesia: Indonesian President mulling cutting corporate tax rate to 17% to match Singapore Wednesday, 10 August 2016 – Indonesia’s President Joko Widodo is considering cutting the corporate tax rate to 17 per cent from 25 per cent to match Singapore’s tax rate, he has said. “The thinking is simple. If Singapore’s corporate income tax is […]
Read MorePhilippines: Budget releases hit P2.68 T from January to July Wednesday, August 10, 2016 – Budget releases of the new administration surged in July, consistent with President Duterte’s promise to spend more and widen the deficit. A total of P2.68 trillion or 89.1 percent of the P3.002-trillion outlay has been released to agencies in the […]
Read MorePhilippines: BOC creates group to address revenue collection goals Wednesday, August 10, 2016 – The Bureau of Customs has created a group to address its persistent failure to meet revenue collection targets. In a statement yesterday, Customs commissioner Nicanor Faeldon said he established the committee on revenue enhancement (CORE) to find solutions on the “huge […]
Read MorePhilippines: Oil exploration firms appeal COA ruling on income tax payment Wednesday, August 10, 2016 – The Petroleum Association of the Philippines (PAP) is appealing a Commission on Audit (COA) ruling for exploration companies to pay income tax on top of the royalties paid to government. In a briefing yesterday, PAP executive director Benjamin Austria […]
Read MorePhilippines: Gross borrowings down 6.6% in H1 Wednesday, August 10, 2016 – The previous administration borrowed less in its last month in office, but the first semester tally remained up by more than a third from last year, data from the Bureau of the Treasury showed. Gross borrowings amounted to P33.13 billion in June, down […]
Read MorePhilippines: Purefoods posts 37% rise in profit in H1 Wednesday, 10 August 2016 – San Miguel Pure Foods Co. Inc. (SMPFC), the listed food subsidiary of diversified conglomerate San Miguel Corp., reported a net income of P2.5 billion in the first half, up 37 percent from the previous year on the back of election-related spending. […]
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