If the contract requires payment on a gross basis, the FCT is borne by the foreign contractor and withheld from total taxable revenue before making payment to said foreign contractor. The Vietnamese company is responsible for the Foreign Contractor Tax declaration and payment to the tax authority...
Whether you use atax calculator in the Philippinesor not, these are all the new things you should know about Expanded Withholding Tax (BIR form 1604E). If you have recently become the withholding agent of the company you work for, then this article will have all the important info you need...
The mandatory corporate officers of a corporation are: (i) the president, who must also be a director; (ii) treasurer, who must be a resident of the Philippines; and (iii) secretary, who must be a resident and citizen of the Philippines. The president may not concurrently sit as secretar...
If we use Southeast Asia as a reference point, Indonesia, Philippines, Thailand, and Vietnam, have adopted GST systems with standard rates of 7% or higher and with fewer exemptions than Malaysia. If we compare the cost of living in those countries to Malaysia, we note that these are either...
The tax base for the computation of export duties is the FOB /Delivered At Frontier price, i.e. the selling price at the port of departure as stated in the contract or invoice excluding international freight and insurance costs. In case the customs values of the exported goods cannot be ...
M E R1G E R S & AC Q U I S I T I O N S 2 0 0 2AMSEIRGAERNS &TAACQXUIASITTIOINOS ANSIANGTAUXAITDIONEGUIDE AUSTRALIA CHINA HONG KONG INDIA INDONESIA JAPAN KOREA MALAYSIA NEW ZEALAND PHILIPPINES 118SINGAPORE SRI LANKA TAIWAN THAILAND VIETNAM GLOBAL M&A CONTACTS 2 MERGERS & ...
Gains on the sale of immovable property are generally subject to personal income tax and the tax is usually withheld at source. The special tax computation is elective and based on the price of the immovable property as appraised by the Land Department and a standard deduction, based on the ...
2 - 2 - 2 1 2 2 2 2 - 35 l Pocket Tax Book 2021 46 Myanmar 47 Netherlands 48 New Zealand 49 Norway 50 Oman 51 Pakistan 52 Palestine 53 Panama 54 Portugal 55 Philippines 56 Poland 57 Qatar 58 Romania 59 Russia 60 San Marino 61 Saudi Arabia 62 Serbia 63 Seychelles 64 Singapore 65...