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Philippines: POGO taxes jump to P7.18 billion in 2020

MANILA, Philippines — Taxes collected by the Bureau of Internal Revenue (BIR) from the offshore gaming industry rose to P7.18 billion in 2020 despite the suspension of operations last year due to community lockdowns. In a statement, the BIR said collections from Philippine offshore gaming operators (POGOs) increased to P7.18 billion in 2020 from only […]

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Thailand: Half million illegals tipped to register

Labour Minister Suchart Chomklin expects about 500,000 illegal migrant workers will be registered by the middle of next month. The minister said on Tuesday that registration started on Jan 15, and since then 190,000 illegal migrants had applied. The special registration period for illegal Cambodian, Lao and Myanmar migrants is set to continue until Feb 13. […]

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Thailand: Banks face hard year as asset quality dips

Thai banks’ financial resilience will be tested this year as debt moratoriums gradually expire, with asset quality and the non-performing loan (NPL) ratio poised to deteriorate, says S&P Global Ratings. Relief measures have blunted the impact of Covid-19 on local financial institutions, but 2021 is a year where loan moratoriums are set to progressively expire, […]

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