The Excise Department’s sales tax cut is expected to cost the government less than 1 billion baht in forgone revenue, says the department’s chief. The lost revenue is insignificant because some of the relevant items already imposed taxes at low rates and others have seen the deadline for lowered tax extended, said director-general Patchara Anuntasilpa. […]
Read MoreRemoving the value-added tax (VAT) exemption for goods of up to 1,500 baht per parcel and imported through the post is crucial to levelling the playing field for local vendors, particularly small and medium-sized enterprises (SMEs), says the Revenue Department. The VAT exemption is unfair to local SMEs because trade is now borderless and scrapping […]
Read MoreKUALA LUMPUR: Malaysia’s central bank on Tuesday cut its key interest rate for a fourth straight meeting to a historic low, as Southeast Asia’s third-largest economy grapples with the coronavirus pandemic and faltering demand for its exports. Bank Negara Malaysia (BNM) eased its overnight policy rate by 25 basis points to 1.75%. A slim majority […]
Read MoreIn Indonesia, locals can soon fly from Jakarta to the beaches of Bali for a domestic vacation. Tokyo residents can escape the pandemic stress with a hike up Mount Fuji, and New Yorkers can head to the Hamptons on Long Island. Residents of Singapore, a city-state smaller than New York City, have few such options, […]
Read MoreThailand has been cited as a success story in containing the coronavirus outbreak, having gone more than 40 days without any local transmission of Covid-19. Yet its economic outlook is the darkest in Asia. Gross domestic product is forecast to contract 8.1% this year, according to the Bank of Thailand. That’s worse than official forecasts […]
Read MoreThailand has been cited as a success story in containing the coronavirus outbreak, having gone more than 40 days without any local transmission of Covid-19. Yet its economic outlook is the darkest in Asia. Gross domestic product is forecast to contract 8.1% this year, according to the Bank of Thailand. That’s worse than official forecasts […]
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