Free Guide-Comparison of Corporate & Income Tax Rates in Asia

Written by Betty Gervasini, FCA | Sep 29, 2025 8:00:05 PM

2025 Asian Tax Snapshot: Corporate and Personal Tax Essentials

Expanding or operating across Asia means dealing with very different tax rules in each country. From corporate income tax to personal tax filing deadlines, compliance can quickly become a challenge for HR and finance teams. To help you keep track, we’ve summarized the latest 2025 income tax highlights for key Asian markets where many companies do business.

Notes:

Vietnam: New CIT Law effective 1 Oct 2025 introduces structural changes (e.g., digital PE rules, revenue-based small-enterprise tiers) but retains the 20% headline rate; check project-specific incentives.
Thailand: Filing dates shown are for the common annual cycle; the global minimum tax applies only to very large MNE groups (≥€750m global turnover).
Malaysia: SME rates require meeting SME conditions (e.g., paid-up capital ≤ RM2.5m and gross business income ≤ RM50m, local ownership thresholds, etc.). Always confirm eligibility.
Hong Kong: IRD often grants automatic e-filing extensions; 5% + 10% surcharges are the standard late-payment structure.
Cambodia: GDT communications alternately cite the 20th or 25th as the monthly deadline depending on tax type/notice; most advisors recommend planning by the 20th to be safe.

Country	Corporate Tax	Personal Tax	Key Due Dates	Penalties / Notes
Vietnam	20% standard CIT. New CIT Law (from Oct 2025) keeps 20% but introduces 15% / 17% for small enterprises.	Residents: 5%–35% progressive. Non-residents: 20% flat.	PIT annual finalization: last day of 4th month after year-end. Monthly/quarterly filings due by the 20th.	Late CIT shortfall → interest; penalties for late filing per GDT rules.
Thailand	20% standard CIT. OECD global minimum 15% applies to large MNEs from Jan 2025.	Residents: 0%–35% progressive.	Individuals: 31 Mar (paper), 9 Apr (e-file).	Late filing/payment → fines & surcharge. Minimum tax rules for large groups.
Malaysia	24% standard CIT. SME scale: 15% (first RM150k), 17% (next RM450k), 24% thereafter.	Residents: progressive bands. Non-residents: flat rates.	Companies: 7 months after FYE (e-file 8 months). Individuals: 30 Apr (paper) / 15 May (e-file); business income: 15 Jul (e-file).	Late filing/payment surcharges and penalties by LHDN.
Hong Kong SAR	Two-tier: 8.25% (first HKD 2m profits), 16.5% thereafter.	Salaries Tax: up to 17% or standard 15%.	ITRs issued May, due 1 month after (e-file +1 month). Sole proprietors: 2 Aug (e-file +1).	Late payment surcharge 5% + 10% after 6 months. Late filing can trigger penalties.
Philippines	Regular CIT: 25%. Reduced 20% for domestic corps with net taxable ≤ PHP 5m and assets ≤ PHP 100m.	Residents: 0%–35% progressive. Non-residents: flat rates.	Annual ITR due 15 Apr. Quarterly returns due 60 days after quarter-end.	Late filing/payment: 25% surcharge + 12% interest p.a. + compromise penalties.
Singapore	Flat 17% CIT (partial tax exemptions for first SGD 200k chargeable income).	Residents: 0%–24% progressive (2024 YA onwards). Non-residents: 15%–22% depending on income type.	Corporate tax filing: e-file by 30 Nov (YA basis). Individual: 15 Apr (paper) / 18 Apr (e-file).	Late filing/payment → fines, 5% penalty + 1% monthly (capped).
Cambodia	Standard Tax on Income (ToI) 20% (medium/large taxpayers). Lower for small.	Salary Tax progressive 0%–20%.	Annual ToI due within 3 months of year-end (e.g., 31 Mar). Monthly Salary Tax & others by 20th–25th of following month.	Late filing: 10%–40% penalty + 1.5% interest per month.

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