The government will not slash the vehicle tax (PKB) on new cars for individuals and businesses to zero percent this year, Finance Minister Sri Mulyani Indrawati said on Monday, despite calls from the Industry Ministry and the automotive industry to do so. Sri Mulyani said the Finance Ministry was not considering the tax cut proposal […]
Read MoreStock markets around the world experienced the biggest falls in history earlier this year because of the Covid-19 pandemic. Though they have since recovered from their March lows, many economies have gone into recession. The spread of the coronavirus around the world has driven many structural and lifestyle changes, such as the growth in e-commerce […]
Read MoreConcerns have been raised that taxpayers are being unfairly targeted by the General Department of Taxation’s (GDT) continued drive to increase tax revenue through, at times, allegedly unnecessary or questionable auditing practices, towards businesses that are already particularly hit hard by the COVID-19 pandemic. There are claims that while robust economic growth and a widening […]
Read MoreMANILA, Philippines — Big banks in the Philippines need to hold off online rivals as the Bangko Sentral ng Pilipinas (BSP) is set to issue the guidelines for digital banks within the year, according to S&P Global Ratings. The debt watcher said established banks have to make aggressive moves to counter the rising market penetration […]
Read MoreJAKARTA: Indonesia’s budget deficit was estimated at 682.1 trillion rupiah (US$46.56bil) in the January-September period, equivalent to 4.16% of gross domestic product (GDP), Finance Minister Sri Mulyani Indrawati said. The government has forecast a fiscal deficit of 6.34% of GDP for 2020, the widest in decades, due to increased spending on the Covid-19 pandemic response. […]
Read MoreMANILA, Philippines — Philippine banks have sufficient buffers to survive the impact of the COVID-19 pandemic on the economy, according to the Bangko Sentral ng Pilipinas (BSP). In a virtual sovereign investor forum organized by Standard Chartered Bank, BSP Governor Benjamin Diokno said the banking industry’s capital adequacy ratio (CAR) stood at 15.3 percent on […]
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Thailand
