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Thailand: Scant few eligible for VAT return scheme

A meagre 360,000 of the 11.4 million recipients of the government’s welfare and subsidy scheme for the poor are entitled to value-added tax (VAT) payback in the first month after the tax incentive scheme started last month. The small number was attributed to only a handful of Thong Fah Pracha Rat shops participating in the programme, […]

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Philippines: BSP halts rate hikes as inflation slows

MANILA, Philippines — As expected, the Bangko Sentral ng Pilipinas (BSP) decided yesterday to keep interest rates steady, pausing from a tightening episode that saw rates rise by 175 basis points in five straight rate-setting meetings since May this year to rein in inflation. Francisco Dakila, assistant governor for the monetary policy sub-sector at the BSP, said the latest inflation forecasts show […]

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RAM projects Malaysia’s 2019 fiscal deficit at 3.3%

KUALA LUMPUR: RAM Ratings Services Bhd has projected Malaysia’s fiscal deficit in 2019 to narrow to 3.3% of the gross domestic product (GDP) from an estimated 3.6% in 2018, amid still-resilient domestic demand growth, the implementation of various fiscal measures and ongoing institutional reforms. It said the government’s medium-term fiscal framework, which targets an average […]

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