MANILA, Philippines — The Department of Finance (DOF) has welcomed the proposal of Albay Rep. and House ways and means committee chairman Joey Salceda to impose a new tax scheme for the mining sector, which would be used to create a sovereign wealth fund for the benefit of future generations. In an interview, Finance Secretary […]
Read MoreMyanmar saw a shrinking of its trade deficit to US$1.1 billion in fiscal 2018-19, the first time in six years that exports grew faster than imports. “The trade deficit for 2018-19 declined substantially due to higher export volumes and a dip in imports compared to last year,” said U Khin Maung Lwin, assistant secretary at […]
Read MoreU Thaung Tun, Union Minister for Investment and Foreign Economic Relations, is expecting foreign direct investments in the offshore oil and gas industry to increase in 2020, once proposals for exploration and production are received, evaluated and approved. At the 30th regular meeting of the Private Sector Development Committee with Myanmar entrepreneurs on October 19, […]
Read MoreEurope, Japan and Russia often come to mind when people think of lengthy high-speed railways (HSR). However, since 2012, the title of the country with the longest high-speed rail goes to China for its Beijing-Guangzhou route. The great leap forward of China’s HSR occurred over just two decades. Beijing officially announced a national policy in […]
Read MoreThais can profit from plastic waste, as well as help the environment, by adopting a more circular economy, according to one of the world’s largest plastic producers, Indorama Ventures Plc. The company’s senior vice-president Richard Jones told the Bangkok Post last week that plastic waste deserves proper management to prevent it from ending up in the ocean, […]
Read MoreThe Revenue Department is set to raise the ceiling for value-added tax (VAT) refunds for tourists at downtown agents to 30,000 baht per traveller from 12,000 baht at present. The tax-collecting agency plans to expand cash payment services for VAT refunds to tourists at 10 international airports nationwide instead of just Suvarnabhumi and Don Mueang […]
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