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Malaysia: Diverse exports to mitigate lockdown impact

KUALA LUMPUR: Malaysia’s diverse export destinations and products should help to mitigate the impact of a prolonged national lockdown through the end of June, according to Moody’s Investors Service. Malaysia imposed a nationwide lockdown since June 1 after daily Covid-19 cases hit 8, 000. From an initial two weeks, it was extended for another two […]

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Thailand: Pata predicts complete recovery by 2023

International arrivals for Thailand are estimated to remain flat this year, assuming the country can reopen in October, while recovery to 2019 levels might not happen until 2023 under the best-case scenario, according to the Pacific Asia Travel Association (Pata). Liz Ortiguera, Pata’s newly-appointed chief executive, said international arrivals are most likely expected to stay […]

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Vietnam: Would withholding tax on e-commerce be possible?

The circular on value-added tax, personal income tax, and tax administration for business households and individuals are expected to collect tax from some people who obtain income on electronic commerce platforms but for years have not paid taxes. The tax authorities have asked e-commerce and delivery companies to take responsibility for the tax registrations, declarations, […]

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Thailand: BoT revises growth forecast to 1.8%

The Bank of Thailand (BoT) has slashed the country’s economic growth forecast again for this year to 1.8% from an earlier projection of 3%, due to lower foreign tourist arrival estimates and lower domestic demand due to the third wave of Covid-19. Under the downside risk outlook, the central bank has revised its forecast of […]

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