Audit and Assurance, Consulting, and Tax Services
Constantin has been delivering superior customer value by providing high-quality practices in all fields of financial reporting and is positioned as one of the top players in the global market.
Operates in 15 Countries Across Asia, Oceania & Middle East
Constantin has an adept understanding of Asian economies. Our team of experts guarantee that your company’s compliance with local legislations are fulfilled.
Unique and Integrated Approach
Constantin has been delivering superior customer value by providing high-quality practices in all fields of financial reporting and is positioned as one of the top players in the global market.
Our success has always been defined by the success of our clients in establishing overseas operations and our ability to stand by them to address the challenges of their international expansion
Constantin Asia has established its market presence in Asia-Pacific
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Malaysia’s Budget 2024, unveiled by Prime Minister Datuk Seri Anwar Ibrahim, allocates MYR 393.8 billion towards enhancing governance, economic growth, and living standards. Key proposals include tax amendments for businesses with foreign shareholdings, expansion of Service Tax coverage, and implementation of a Global Minimum Tax for multinational corporations. Significant tax incentives are introduced for green technology and ICT investments, alongside tax deductions for environmental, social, and governance-related expenditures and voluntary carbon market participation. The budget also outlines a phased introduction of e-invoicing for businesses, aiming to modernize and streamline tax compliance and reporting processes.
The 2023 Malaysia Tax Update outlines significant tax regulations, focusing on the territorial basis for taxation, the self-assessment regime, and specific tax rates for businesses and individuals. It introduces a cap on foreign ownership for SMEs starting in 2024 and details adjustments in Real Property Gains Tax and Sales and Services Tax. The document also discusses personal tax rates, residency criteria, and exemptions for non-residents and expatriates. Additionally, it covers withholding tax for payments to non-residents and emphasizes compliance with transfer pricing rules to adhere to the arm’s length principle. This guide aims to navigate Malaysia’s tax landscape effectively for the year 2023.
Singapore’s Enterprise Innovation Scheme (EIS), launched in Budget 2023, encourages innovation through enhanced tax deductions/allowances for qualifying R&D, IP registration, and training expenditures from YA 2024 to YA 2028. Qualifying businesses can also convert up to $100,000 of their annual qualifying expenditure into cash at a 20% rate instead of claiming tax deductions/allowances. The scheme includes specific rules for deduction eligibility and cash payouts, with provisions to ensure only eligible activities benefit. This initiative aims to foster a culture of innovation and technical advancement among Singaporean businesses.
The Singapore GST Update for 2023-2024 outlines the phased GST rate increase from 7% to 9%, impacting consumers and businesses. Starting January 1, 2023, the rate will rise to 8%, followed by a further increase to 9% on January 1, 2024. Businesses must adjust accounting, invoicing, and pricing systems to accommodate the new rates and are encouraged to review contracts to determine GST implications. Transitional rules provide guidance on handling supplies spanning the rate change, emphasizing adjustments for payments, invoicing, and service delivery across the transition period. The document details scenarios to assist businesses in applying these rules correctly, ensuring compliance with the updated GST framework.
email: australia@constantin-anz.com
Level 5,
20 Bond Street
Sydney NSW 2000
email: hongkong@constantinasia.com
160 Gloucester Road,
25/F OTB Building,
Wanchai, Hong Kong, China SAR
email: indonesia@constantinasia.com
Correspondent Firm
email: japan@constantinasia.com
30/F, Kasumigaseki Building,
2-5, 3-Chome, Kasumigaseki,
Chiyoda-ku, Tokyo, Japan
email: china@constantinasia.com
Shanghai
Unit 707, No.596 Middle Longhua Rd, Shanghai, 200032, China
Beijing
2/F Zhongfu Mansion,
18 Gongrentiyuchang East Road, Chaoyang District,
Beijing, 100020, China
Guangzhou
Level 54, Guangzhou IFC West Tower,
No. 5 Zhujiang Road West,
Guangzhou 510623, China
email: malaysia@constantinasia.com
Kuala Lumpur
A-2-29, IOI Boulevard
Jalan Kenari 5, Bandar Puchong Jaya
47170 Puchong, Selangor, Malaysia
Penang
18-3, Jalan Vervea 11, Vervea,
Bandar Cassia, 14110 Batu Kawan,
Pulau Pinang, Malaysia
email: australia@constantinasia.com
Level 5,
20 Bond Street
Sydney NSW 2000
email: hongkong@constantinasia.com
160 Gloucester Road,
25/F OTB Building,
Wanchai, Hong Kong, China SAR
email: indonesia@constantinasia.com
Correspondent Firm
email: japan@constantinasia.com
30/F, Kasumigaseki Building,
2-5, 3-Chome, Kasumigaseki,
Chiyoda-ku, Tokyo, Japan
email: china@constantinasia.com
Shanghai
Unit 707, No.596 Middle Longhua Rd, Shanghai, 200032, China
Beijing
2/F Zhongfu Mansion,
18 Gongrentiyuchang East Road, Chaoyang District,
Beijing, 100020, China
Guangzhou
Level 54, Guangzhou IFC West Tower,
No. 5 Zhujiang Road West,
Guangzhou 510623, China
email: malaysia@constantinasia.com
Kuala Lumpur
A-2-29, IOI Boulevard
Jalan Kenari 5, Bandar Puchong Jaya
47170 Puchong, Selangor, Malaysia
Penang
18-3, Jalan Vervea 11, Vervea,
Bandar Cassia, 14110 Batu Kawan,
Pulau Pinang, Malaysia
email: philippines@constantinasia.com
8862 Sampaloc St.,
San Antonio Village,
Makati City, Phillippines 1203
email: singapore@constantinasia.com
10 Anson Road,
#33-06B, International Plaza,
Singapore 079903
email: southkorea@constantinasia.com
Correspondent Firm
email: taiwan@constantinasia.com
13Fl., No. 159, Sec. 1,
Keelung Rd.,
11070 Taipei City, Taiwan, China
email: uae@constantin-uae.com
The Prism Tower
#10-11, Business Bay
Dubai, UAE
email: vietnam@constantinasia.com
Ho Chi Minh City
Unit L10-04, Vincom Center,
72 Le Thanh Ton,
Ben Nghe, D1, HCMC, Vietnam
Hanoi
Naforimex building, 3rd floor,
19 Ba Trieu, Hoan Kiem District,
Hanoi, Vietnam
email: philippines@constantinasia.com
8862 Sampaloc St.,
San Antonio Village,
Makati City, Phillippines 1203
email: singapore@constantinasia.com
10 Anson Road,
#33-06B, International Plaza,
Singapore 079903
email: southkorea@constantinasia.com
Correspondent Firm
email: taiwan@constantinasia.com
13Fl., No. 159, Sec. 1,
Keelung Rd.,
11070 Taipei City, Taiwan, China
email: uae@constantin-uae.com
The Prism Tower
#10-11, Business Bay
Dubai, United Arab Emirates
email: vietnam@constantinasia.com
Ho Chi Minh City
Unit L10-04, Vincom Center,
72 Le Thanh Ton,
Ben Nghe, D1, HCMC, Vietnam
Hanoi
Naforimex building, 3rd floor,
19 Ba Trieu, Hoan Kiem District,
Hanoi, Vietnam