Indonesia offers tax incentive to hybrid car makers
Indonesia will offer a sales tax incentive on Government-borne Luxury Goods (PPnBM DTP) of 3% for hybrid cars from next year.
Vietnam cuts VAT to 8% till year end
The Government on June 30 issued a decree regulating a reduction in value-added tax (VAT) on goods and services from July 1 to December 31, in accordance with Resolution 142/2024/QH15 adopted by the National Assembly on June 29.
NA Standing Committee agrees on VAT reduction until year's end
Full-time legislators on June 13 agreed to continue with the 2% value-added tax (VAT) cut for certain goods and services from July 1 to the end of the year to back the country’s socio-economic recovery and development.
Government proposes extending VAT cut until year end
The Government has proposed extending the cut in value-added tax (VAT) from 10% to 8% on specific groups of goods and services from July 1 until the end of the year to support business and production activities.
Garment & textile sector tries to keep growth momentum
The Vietnamese garment and textile sector is carrying out various measures to bolster production and business activities amidst formidable challenges posed by falling demand, high inventory, and geopolitical instability in several countries, according to insiders.
Indonesia encourages use of EV
Indonesia continues to push the use of electric vehicles (EVs) with the dream of bluer skies and cleaner air with lower pollution in the country.
Thailand launches tax incentives to fuel consumption
The Thai cabinet on October 12 approved tax incentives to boost domestic consumption in a bid to revive an economy struggling with impacts of the COVID-19 pandemic.
Indonesia’s sales of motorbikes projected to plunge 45 percent this year
Motorcycle manufacturers in Indonesia have started to adjust sales target this year due to impact of the COVID-19 pandemic, announced the Indonesian Motorcycle Industry Association (AISI).
Enjoying incentives, prices of domestically-produced cars to decline
The Government’s decision to offer a zero-import tax rate on automobile components opens significant opportunities for the local industry to lower prices, enhance competitiveness and promote consumption.
Indonesia expects to see economic recovery in Q4
Indonesia's economy is likely to begin recovering in the last quarter of 2020 before the growth accelerates in 2021 with an expected expansion of between 4.5 and 5.5 percent, according to Indonesian Finance Minister Sri Mulyani Indrawati.
Thailand boosts consumption with tax break
The Thai Government has passed a tax incentive to encourage shopping activities across the country at year’s end, boosting domestic consumer spending.