• Southeast Asian exchanges battle for IPOs

    Exchange houses in Southeast Asia are scrambling to attract initial public offerings (IPOs). In a bid to lure more IPOs in the country, the Philippines is trying to pass a regulation that would reduce taxes on stock transactions, following a similar tax cut proposal made by Indonesia last week. The Philippine proposal seeks to cut the transaction tax rate on listed stocks from 0.6% to 0.1% in 2024 and the tax on interest income from 20% to 15%. Meanwhile, Indonesia’s proposed tax cut aims to give listed firms a lower-than-normal 17% corporate…

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