MANILA, Philippines — The central bank has conducted a stress test on banks to assess their capacity to take in heavy losses during the coronavirus disease-2019 (COVID-19) outbreak and community lockdowns that disrupted their business. “We are looking at the impact of the coronavirus pandemic on the bank industry,” central bank Governor Benjamin Diokno told Philstar.com in […]
Read MoreIndonesia should turn to value-added tax (VAT) and large tech companies to address the widening shortfall in state revenue, analysts have said. Danny Darussalam Tax Center (DDTC) research partner Bawono Kristiaji said VAT and individual tax were generally more resistant to economic shocks like those that hit Indonesia during the 2008 crisis. “VAT is more resistant to […]
Read MoreIn one month, working from home has turned from a luxury for many office workers in Thailand to a necessity. While the transition is hampered by buggy video conferencing programmes, missed communications and unanswered emails, some office heads like the new concept, saying it can actually increase efficiency and keep workers happy. In the US, […]
Read MoreIndonesians are relatively more optimistic on the outlook of the economy and will spend more in the future as businesses are forced to adapt to changing consumer behavior to endure the economic effects of the pandemic, several surveys show. More than half of Indonesian respondents say they are optimistic that the economy will rebound within […]
Read MoreThailand plans to borrow 600 billion baht in the current fiscal year to September and 400 billion baht in the next fiscal year to finance measures to mitigate the coronavirus impact, a finance ministry official said on Wednesday. The government will borrow at least 80% from the domestic market via short and long-term debt issues […]
Read MoreThe government is looking to finalize next week Rp 35.3 trillion (US$2.26 billion) in new tax incentives for 18 sectors including those hardest-hit by the COVID-19 pandemic such as tourism and the food and beverage sector. It will also introduce new tax breaks for the healthcare sector. The government is currently formulating the regulation and […]
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