AEC Feed

 Myanmar exported nearly 1,000 tonnes of rice to the EU market from August 21-27.
The country exported 3,904 tonnes of rice, worth US$1.48 million (Bt51.68 million), to the EU and China that week.
From April 1-August 26, Myanmar exported 331,664 tonnes of rice worth $118.85 million.
“The country’s stockpile of rice for export is declining this fiscal year,” said Lu Maw Myint Maung, the joint secretary of the Myanmar Rice Federation.
According to the ministry, Myanmar generated more than $145 million from the export of more than 20,000 tonnes of rice and broken rice this fiscal year.
According to the federation, Myanmar mainly exports rice to the EU and China by sea, despite low demand from China. – Eleven Myanmar
 

 Indonesia hosts Asian SMEs event
 Indonesia is hosting the fourth Asian SME (small medium enterprise) Conference from today to Saturday.
Cooperatives and SMEs Minister Anak Agung Gede Ngurah Puspayoga said the conference should facilitate SME players in strengthening their global competitiveness.
“I hope SME players get optimally empowered,” the minister said in a statement as quoted by tempo.co yesterday.
He said he expects Indonesian SMEs to thrive in the Asean Economic Community.
“Good products, good services are not enough to survive the AEC,” he said.
The conference was expected to give SMEs solutions to thrive in the AEC.
It is targeting 700 participants from 15 countries.
The event is presented by the Asian Council for Small Business and endorsed by the ministry and the International Council for Small Business. – The Jakarta Post
 

 Malaysia Airlines picks up market share
 Malaysia Airlines, which has gone back to the aviation market after a two-year restructuring, is seeing a recovery in its share of the travel business by 3-4 percentage points.
Peter Bellew, managing director and chief executive officer, said the airline has regained a higher percentage in some popular routes such as the Kuala Lumpur-London market.
“We have about a 8-per-cent market share on the London route,” he said.
This is an encouraging sign, given that MAS has had two air disasters in recent years and the aviation industry is highly competitive with low fares from low-cost carriers, he said.
The improvement in market share was due to an aggressive sales push, along with advertising campaigns, something that the full-service carrier had put on hold for a long time.
“We saw over the last few weeks that the amount of money we spent on advertising, we were getting back 10- to 20-fold more...it is a no-brainer, and in the leisure business, you have to spend money to bring in money,” he said recently.
Passenger loads slipped to 68.6 per cent from 68.9 per cent in the first quarter of the year. Bellew has an 18-month target for passenger loads to hit 80 per cent. – The Star
 

  Uber to pay taxes as a foreign enterprise
   The Finance Ministry has issued tax payment rules for Dutch-based Uber International Holding for its car-hailing service in Vietnam.
Uber must pay taxes as a foreign enterprise that operates and earns income in Vietnam without resident offices. The direct method will be applied on Uber.
The rates are 3 per cent for value-added tax (VAT) and 2 per cent for corporate income tax (CIT) on Uber’s revenue generated in Vietnam.
Uber has been asked to authorise its subsidiary Uber Vietnam or a third party to declare and pay VAT and CIT.
Individuals contracted with Uber to provide the taxi service will pay tax on their earned income.
Uber collects all fares through card payments. Uber drivers use their own vehicles and 80 per cent of their revenue goes into their own pockets. The rates for individual drivers are 3 per cent for VAT and 1.5 per cent for individual income tax. – Viet Nam News