Fiscal Reform

February 2006
Asia Monitor: South East Asia Monitor Volume 1;Feb2006, Vol. 17 Issue 2, p7
Country Report
Country Report
The article focuses on the efforts made by the government to compensate for the expected loss of income as it liberalizes its trade regime. For this the government is planning to introduce a law on value-added tax (VAT) as well to set out a timetable for its implementation. The VAT law will be put in front of the National Assembly for approval in late 2006, with a view to introduce it nationwide in 2007. But, as per the regional experience, with the introduction of VAT law, there are likely to be teething problems, so that an easy transition from direct to indirect taxation cannot be assured.


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