Stay tuned on upcoming VAT rate changes in Asia Pacific

Last update: October 25, 2023

Australia

• ‘No plans or any intention’ to change the rate of the GST

Azerbaijan

• Azerbaijan Exempts Sale of Locally made Cars from VAT

Bangladesh

• 15% VAT on import of software proposed
• 2023-24 Budget Speech with Diverse Tax Measures
• Budget for FY 2023-24: 5% VAT on software production and customization services
• Budget for FY 2023-24: Various VAT rate changes proposed
• Govt to Withdraw 5% Advance Tax on Fuel Import
• NBR waives 7.5pc VAT on aluminium scraps, wastes
• VAT on essential commodities go up, raw materials down
• VAT Waiver Planned for Potential Recycled Clothing Backward Industry

Cambodia

• Specific tax rates on locally produced non-alcoholic beverages
• VAT rate of 10% on all cigarette supplies

China

• China extends 3% VAT rate withdrawal for small businesses till 31 Dec 2027

Fiji

• Standard VAT rate increased from 9 to 15% as of August 1, 2023

India

• 50th GST Council Meeting: Various GST Rate clarifications
• Cabinet approves Bill amending 28% GST on online gaming; Reports

Japan

• Japan emphasizes that there will be no increase in consumption tax

Malaysia

• Service Tax Rise to 8% 2024 (increase by 2%)

Singapore

• Approved. Goods and Services Tax (GST) rate will rise from 8% to 9% per Jan 1, 2024
• E-tax guide for businesses on upcoming 2024 GST rate adjustment
• New Guidance on GST Rate Increase to 9% from Jan 2024

Thailand

• Thailand shelves plans to raise VAT to 10% – Current rate of 7% will be kept for another year 

Vietnam

• Reduction of the VAT rate from 10 to 8% from 1 July to 31 December 2023, and certain goods and services such as telecommunications, IT services, finance and banking services, real estate business, metal production, mining industry, and goods subject to special sales tax will not be eligible for the reduced VAT rate.

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See also Stay tuned on upcoming VAT rate changes in Europe

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