Bangkok (VNA) – Thailand’s Government has approved incentives to spur private investment of 110 billion THB (about 3.56 billion USD) and add 0.25 percent to economic growth in 2020. The measures include a corporate income tax deduction of 2.5 times expenditure on machinery, a one-year tax exemption for importing new machinery, and special-rate loans offered by the Export-Import Bank of Thailand for exporters to alter their machinery for export. The tax measures apply to new machinery purchased from Jan 1 to Dec 31, 2020. The 2.5-time tax deduction is not applicable to leased machinery. The measures are estimated to cost the government 8.6 billion THB in forgone tax revenue, said Narumon Pinyosinwat, a government spokeswoman. According to Narumon, the cabinet has approved a 350-million-THB budget to compensate Exim Thailand for the special interest rates. The Thai Finance Ministry said the fresh measures are essential to stimulate private investment and the local … [Read more...] about Thai government approves measures to stimulate private investment
Why do property taxes increase
Hanoi (VNA) - Vietnam’s consumer price index (CPI) in January hit a record high, up 1.23 percent over the previous month and 6.43 percent year on year, according to the General Statistics Office (GSO). This is the highest January CPI growth recorded in the last seven years. Compared to the previous month, an upturn was seen in the prices of ten out of 11 main groups of goods and services, leading by food and catering services (2.29 percent). It was followed by housing and construction materials (1.47 percent); goods and other services (0.92 percent); transport (0.69 percent); drinking and tobacco (0.65 percent); garment and textile, headwear and footwear (0.33 percent); household equipment and products (0.27 percent); and culture, entertainment and travel (0.25 percent). The only group experiencing price fall was post and telecommunications (0.03 percent). Do Thi Ngoc, head of the GSO’s Price Statistics Department, explained that the CPI in January saw a … [Read more...] about CPI in January hits record high in recent 7 years
Chair of the Vietnam Chamber of Commerce and Industry (VCCI) Vu Tien Loc, when talking about policies to support businesses recently, mentioned the ‘loneliness’ of the majority of businesses, especially small, medium, and micro sized companies, which account for 95 percent of total Vietnamese enterprises. … [Read more...] about What should be done to help Vietnamese businesses grow?
Serious traffic congestion was reported on a section of Pháp Vân-Cầu Giẽ Expressway heading to the centre of Hà Nội on Tuesday afternoon, said Senior Lieutenant Colonel Nguyễn Quang Nhật, head of the ministry’s Traffic Police Department. … [Read more...] about Traffic accidents kill 122, injure 150 during Tết
Thailand has reported 14 cases of infection; Hong Kong (China) and Taiwan (China) have eight each; the United States and Australia have five each; Singapore and Japan each have seven; Malaysia, South Korea, German and France have reported four each; Canada has three; Vietnam has two; and Nepal, Cambodia and Sri Lanka each have one. There have been no deaths outside China. … [Read more...] about Vietnam health authority completing treatment plan for coronavirus