KUALA LUMPUR: The domestic economy and the income levels of Malaysians are being weighed down by the high numbers of low-wage foreign workers, according to Bank Negara. Governor Tan Sri Muhammad Ibrahim said the country should cut back on its foreign worker dependency to drive higher wages for Malaysians across-the-board. He also cautioned that Malaysia […]
Read MorePETALING JAYA: For Malaysia’s economy to move up the value chain, it needs to diversify into more complex industries. Bank Negara said that to enable this, the Government’s focus should be directed towards modernising and augmenting the supporting ecosystem of important industries. “The strategy should centre on four key pillars which are proven enablers of […]
Read MorePETALING JAYA: Bank Negara is recommending that employers provide a living wage that better reflects the cost of living. The central bank had commissioned a report based on a survey of the cost of living in Kuala Lumpur. The survey showed that in Kuala Lumpur, the provisional estimates of a living wage ranged between RM2,700 […]
Read MoreThree retail associations on Wednesday submitted an open letter to Prime Minister Prayut Chan-o-cha, calling on the government to revise the terms of reference (ToR) for the duty-free shop concession at Suvarnabhumi and Don Mueang airports, which are due to expire in 2020, allowing greater competition. The three associations are the Thai Retailers Association (TRA), the […]
Read MoreSINGAPORE: The Goods and Services Tax (GST), also known as the Value-Added Tax (VAT), has been implemented in most countries globally as a source of revenue. Malaysia, is thus, no exception. Depending on the country, the rate can be as high as 28 per cent and Malaysia is among those to have implemented the consumption […]
Read MoreTRANSACTIONS involving cryptocurrencies, including digital tokens, will be subject to a 15 per cent withholding tax under a measure approved by the Cabinet yesterday. Finance Minister Apisak Tantivorawong said the Cabinet approved the draft bill on digital asset business – after it was examined by the Council of the State – before forwarding it for […]
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Thailand
