Thailand has gone through some tumultuous years that have had some impact on its economy. To help investment and growth, this complete guide to doing business in Thailand updated for 2016 will guide investors and entrepreneurs in their activities, to launch and conduct business in Thailand.
With a strong appetite for development, Myanmar has adopted a very accommodating fiscal regime. A low corporate income tax, a progressive but low personal income tax, no VAT but a light “commercial tax” and strong incentives, aim at attracting and helping companies to spur the development of Myanmar’s newly opened economy.
Taxes in Laos are among the lowest in the region: a low corporate income tax, a low progressive income tax and a low VAT make the country attractive for business. The Lao taxation system is quite simple and straightforward to encourage investment in the country and help develop its burgeoning economy.
Though slightly above regional peers, taxes in the Philippines are rather low globally: low corporate income tax, low progressive income tax and and low VAT. Though the taxation system is rather simple, particular rates, formalities and methods of calculations have to be implemented to properly compute and declare taxes.
Taxes in Vietnam are rather on the low side globally: a low corporate income tax, a progressive income tax and a low VAT make the country generally interesting for business. Some other taxes, special rates and methods of calculations also need to be taken into account in order to properly assess fiscal expenses.
Southeast Asia is a powerhouse for the automotive industry in Asia and beyond with very attractive perspective for the coming years. The region presents the double interest of having large markets with important sales growth potential and important automotive manufacturing hubs to produce for Asia and the world.
Thailand is a country with rather low taxes: a low corporate income tax, a progressive income tax and a low VAT that make the country attractive for business. Some other taxes and specific regulations are also applied to particular key sectors such as transport, banking and finance or real estate.
Cambodia is a business-friendly country, with a progressive but low income tax, a low corporate income tax and low equivalent to VAT which make it attractive for work and business. Other taxes are also in the lower range, further enabling professionals and companies to consider Cambodia for their operations.
To enhance the development of strategic industries in Thailand’s different regions, the Thai authorities have launched a series of policies to attract target businesses. With clusters for several sectors and throughout the country, incentives have been planned to promote industries in areas that present specific advantages.
Taxes in Singapore are part of what makes it one of the best places to do business. With a simple and clear system of low corporate tax, personal income and goods and services tax (VAT), Singapore is attractive for most businesses. Several schemes further alleviate taxes for companies, fostering the pro-business environment even further.