Tax exemption to be clarified for annual interest less than 20,000 baht The banks will have to submit interest income information to the Revenue Department for consideration BANGKOK, 25 April 2019(NNT) – On the requirement for depositors with an interest income of less than 20,000 baht per annum, officials from the Revenue Department, the Thai…
World Bank Slashes Thailand’s 2019 GDP Growth to 3.8 Percent The World Bank projected Thailand’s economic growth rate at 3.8 per cent this year, down from 4.1 per cent in 2018, and 3.9 per cent next year. BANGKOK – A World Bank senior economist for Thailand has trimmed its projection for Thailand’s economic growth this year…
Thailand’s Leading Commercial Bank and State Oil Company effectively piloted Blockchain Payments Leading Commercial Bank of Thailand, Siam Commercial Bank (SCB) and State Oil Company PPT Exploration and Production Public Company Limited (PTTEP) Completed a successful test of blockchain use for cross-border business-to-business payments. The successful pilot has been declared by the bank on its website. According…
World Bank cuts Thailand’s growth rate projection to 3.8% Growth in developing East Asia and the Pacific (EAP) is projected to soften, while growth rate in Thailand is expected to be slightly lower in 2019 Growth in developing East Asia and the Pacific (EAP) is projected to soften to 6.0 percent in 2019 and 2020,…
Thai Banks to tax savings interest above 20,000 baht BANGKOK, 23 April 2019 (NNT) – The Thai Bankers Association has held a meeting to find a solution to the savings interest tax and to provide maximum convenience to bank customers who might be obliged to divulge their savings account activity to the Revenue Department so…
Bank of Thailand Governor Believes Economy Will Improve in Second Half of 2019 It has been projected that the country’s economy this year would grow 3.8 per cent, he said, adding that if the new government is formed in August or September then it could affect the government’s pending projects. BANGKOK – Bank of Thailand (BoT)…
Improved FY19 earnings seen for CIMB Thai Bank Upgrade to outperform with an unchanged target price (TP) of RM6.10. CIMB Thai Bank Pcl’s three months of financial year 2019 (3MFY19) earnings exceeded our expectations accounting for 41% of our full-year estimates, attributed to lower-than-expected impairment allowances. Asset quality improved in tandem with the lower impairments. We…
New land and building taxes will not increase tax rates, says Treasury Department The Treasury Department has reassured that a new method for appraising land and buildings will not result in higher land and building tax rates as several parties have suggested, while the Fiscal Policy Office (FPO) estimates about Bt40 billion per year in…
SCB cuts thai growth forecast to 3.6% The SCB’s Economic Intelligence Center (EIC) has reduced its growth projection for the Thai economy this year to 3.6% from a previous expectation of 3.8%. Trade war puts brakes on exports According to first executive vice-president Yunyong Thaicharoen, this is mainly due to the decreasing trends of the…
Thai, Myanmar Central Bank Governors Endorse Blockchain Remittance Service The governors of two central banks endorsed the Ethereum (ETH)-based remittance system developed by blockchain company Everex, the firm reported in a press release shared with Cointelegraph today, April 5. The service is set up to send payments between Thailand and Myanmar. The system was reportedly…