The Asean blueprint in signed in 2007 outlines many legislative and policy changes expected of member countries before the region becomes fully intergrated.
The blueprint in principle does not contain provisions for coordinating or harmonsing tax policies.
Consequently,member countries use tax a competitive factor in attracting foreign invesment.
Since the signing of blueprint, member countries have been lowering their corporate income tax rates,which now range from 17% in singapore to 30% in philippines. Thailand reduced its rate from 30% in 2011 to 20% in 2014, and there is a proposal to extend the 20% from jan 1,2016