Time To Speed Up Asia Pacific's Digital Evolution To Support Businesses

National authorities across Asia Pacific are at very different stages in their digital transformation journey - and this has been particularly apparent during the COVID-19 crisis, writes Edmund Lee.

Jurisdictions introduced a myriad of measures in recent months to support businesses. Singapore automatically deferred all corporate income tax (CIT) payments for three months alongside other tax relief. Small, low-profit enterprises in China can defer CIT payments and access reduced VAT rates. Employees working from home in Malaysia can claim tax relief for the purchase of a smartphone, notebook or tablet. Meanwhile Indonesia has earmarked USD $8.3 billion for various tax reliefs and incentives.