The Bank of Thailand has come under criticism on the social media for publishing the names of the country’s five largest banks in the Royal Gazette. The central bank’s intention was to underscore the importance to the economy of Bangkok Bank, Krung Thai, Kasikornbank, Siam Commercial Bank and Bank of Ayudhya. As such, it said, […]
Read MoreTHE ASIAN Development Bank has urged Asian governments to |tap into private funds to finance huge infrastructure projects in |their countries, adding that the effectiveness of the new public-private partnership (PPP) law in Thailand hinges on how it is implemented. Public-private partnership has the potential to fill the infrastructure gap as institutional investors have large […]
Read MoreFINANCE MINISTER Apisak Tantivorawong has insisted on waiving withholding tax levied on interest-based income in an excess of Bt20,000 on concerns over the possible impact on depositors, according to Revenue Department director-general Prasong Poontaneat. Prasong said the department will not abolish its exemption of withholding tax levied on the excessive amount of interest-based income of […]
Read MoreCambodia as a member of the six-nation Greater Mekong Sub-region (GMS) endorsed a five-year action plan framework that includes $64 billion in projects to help the sub-region achieve inclusive growth and sustainable development. Ministers at the 22nd GMS Ministerial Conference on Friday celebrated 25 years of economic cooperation, acknowledging the achievements of an Asian Development […]
Read MoreThe Bank of Thailand has coordinated with the Finance Ministry on probing a commercial bank that reportedly helps customers avoid paying the compulsory 15% withholding tax deducted from deposit interest income. “The Bank of Thailand acknowledges such undesirable behaviour was committed by a commercial bank and is looking into the incident to see if it […]
Read MoreThe central bank is expected to keep its benchmark interest rate unchanged near record lows on Wednesday, despite calls for a cut to contain the strength of the baht. The Bank of Thailand (BoT) has said monetary policy still supports the country’s economic recovery. Though inflation has remained weak, high household debt is limiting its […]
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