MANILA, Philippines — The Bangko Sentral ng Pilipinas (BSP) has tightened the guidelines on correspondent banking relationships as legislation against money laundering and terrorism financing needed to avoid being included in the watchlist of the global watchdog have yet to be passed. BSP Governor Benjamin Diokno said the BSP has approved amendments to the Manual […]
Read MoreAlthough exports of marine products to China have declined slightly so far this year due to the COVID-19 outbreak sweeping the world, some 4,000 tonnes of goods were still sent overseas over the last week, a senior fisheries official says. “As the number of coronavirus cases started rising in China in January, exports of Myanmar’s […]
Read MoreWorkers in the manufacturing industry will not have to pay income taxes for six months as the government has announced measures to shield the economy from weakening economic activity against the backdrop of the coronavirus pandemic. Finance Minister Sri Mulyani Indrawati said the move to temporarily exempt manufacturing workers from income tax payment (PPh 21) took […]
Read MoreThe General Department of Taxation (GDT) has announced that companies wanting to benefit from tax cuts resulting from the country’s double taxation avoidance (DTA) agreements must send in their applications before March 31. The announcement said taxpayers who enjoy tax breaks stemming from a DTA must re-apply using GDT’s online system before the end of […]
Read MoreMANILA, Philippines — Food supplies, including rice, are ordered moved closer to Metro Manila as the Department of Agriculture devises a “preemptive” move to ensure food sufficiency should the coronavirus disease-2019 (COVID-19) outbreak trigger supply disruptions. After local authorities floated the idea of “localized” lockdowns to control COVID-19 spread, Agriculture Secretary William Dar told Philstar.com his order for a “food […]
Read MoreThe Department of Internal Trade (DIT) authorised the export of 330 tonnes of face masks in January and February when the items were in short supply and declared controlled products, according to the Customs Department. The department had no power to stop the shipments because the exporters held a licence under the Commerce Ministry’s regulations, […]
Read More
Thailand
