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The Latest Breaking News from Finance Ministry

G-20 finance chiefs to tackle global economic threats

Top financial leaders from the Group of 20 leading economies are gathering in the south Indian technology hub of Bengaluru to tackle challenges to global growth and stability

The Independent UK

Ministry to probe executives' BCP shares

The Finance Ministry will investigate whether it was unethical for two of its senior executives to receive shares offered to them by SET-listed Bangchak Corporation Plc (BCP) under the company's employee stock ownership plan (Esop), said a ministry source who requested anonymity.

Bangkok Post

Bid to hasten Covid payouts

The Finance Ministry plans to speed up the payment of lump sum claims from Covid-19 policyholders of four dissolved non-life insurance companies, says permanent finance secretary Krisada Chinavicharana.

Bangkok Post

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Finance Ministry keen on balanced budget

The Finance Ministry expects a more focused reform of both revenue collection and expenditure to achieve a balanced budget in the next decade, says the ministry's permanent secretary Krisada Chinavicharana.

Bangkok Post

Lebanon sets new exchange rate, dramatically devalues pound

Lebanon’s Central Bank has set a new exchange rate that effectively devalues the country’s currency by 90% but did little to bridge the gap with the soaring black market rate

The Independent UK

Spat obstructs EV battery production

The development of measures to promote the domestic production of electric vehicle (EV) batteries remains deadlocked because of differing opinions between the Finance Ministry and the Industry Ministry, says a National EV Policy Committee source who requested anonymity.

Bangkok Post

Illicit bank accounts face legal crackdown

The Finance Ministry has instructed the Fiscal Policy Office (FPO) to find ways to tackle fraudsters' use of nominees to open bank accounts, says the ministry's permanent secretary Krisada Chinavicharana.

Bangkok Post

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Arkhom targets balanced budget with tax reforms

The Finance Ministry aims to achieve a balanced budget in a decade by improving its tax collection efficiency and expanding the tax base, says Minister Arkhom Termpittayapaisith.

Bangkok Post

Ministry to pilot utility bill data sandbox

The Finance Ministry will test in a sandbox the use of utility bill data by small and medium-sized enterprises (SMEs) to support their applications for new loans from state-owned financial institutions, said Chuenchob Kongudom, vice-minister to the Prime Minister.

Bangkok Post

Fiscal status unfazed by continued tax discount

The Finance Ministry is confident the cabinet's decision to extend the diesel excise tax cut by another four months will not affect the country's fiscal status as net revenue collection for fiscal 2023 is expected to exceed the target, says Deputy Finance Minister Santi Promphat.

Bangkok Post

Determining the future of virtual banking

The Bank of Thailand has issued a consultation paper for the virtual bank licensing framework as part of its hearings into the creation of virtual banks as new financial service providers. Below are details about virtual banks listed in the paper and frequently asked questions.

Bangkok Post

Realty industry wants tax and policy related relaxations in upcoming budget 2023

NEW DELHI: With a view to sustain demand in the housing sector, the realty industry wants tax and policy related relaxations in the upcoming budget.

The Times of India

Welfare bump on the cards

The Finance Ministry is considering increasing the value of state welfare card subsidies in response to rising living costs, says a ministry source who requested anonymity.

Bangkok Post

BoT sets out plan to issue up to 3 virtual banking licences

The Bank of Thailand plans to grant up to three virtual banking licences in the first stage of its digital plans, and will allow both financial institutions and non-financial firms to apply.

Bangkok Post

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Reuters

Ghana again extends domestic debt exchange registration deadline

Ghana has further extended the deadline to register for its domestic debt exchange to Jan. 16 in order to "secure internal approvals" from the financial sector, the Finance Ministry said in a statement late on Saturday.

Bangkok Post

New Year govt gift bonanza

The government will roll out a package of stimulus measures as "New Year gifts", including tax rebates for shoppers, reductions in land and building taxes, and property transaction fees to boost public consumption and the economy over the coming year.

Bangkok Post

State agencies prep new 'gifts'

Government agencies including the Finance Ministry are expected to propose measures to ease the cost of living for consumers and businesses, aiming to stimulate domestic consumption via "New Year's gifts", for cabinet consideration on Tuesday, says a ministry source who requested anonymity.

Bangkok Post

Govt to mull more stimuli for New Year

The Finance Ministry will on Tuesday submit to the cabinet for consideration a series of economic stimulus packages to boost consumer spending during the New Year period, a ministry source said.

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The Japan News/Yomiuri

Over 40 trillion yen sought for 5-year defense plan

Defense spending is planned to be set at more than 40 trillion yen in the next five-year defense program from fiscal 2023, according to sources.

Bangkok Post

B60bn savings-bond issue planned

The Finance Ministry plans to sell 60 billion baht worth of government savings bonds next month to help finance the budget deficit, the Finance Ministry said on Thursday.

Bangkok Post

Ministry pushes new savings fund

The Finance Ministry is pushing for a mandatory provident fund intended to be a savings reserve for employees nationwide after voluntary provident funds were found to be inadequate.

Asharq Al-Awsat

Auditors in Iraq Uncover Staggering $2.5 Billion Tax Fraud

Auditors in Iraq have uncovered a massive scheme in which a network of businesses and officials embezzled some $2.5 billion from the country’s tax authority, despite layers of safeguards. The scandal poses an early test for Iraq’s new government, which was formed late last month after a prolonged political crisis.

Bangkok Post

Talks aimed at quashing Ponzi fraud

The Department of Special Investigation (DSI) and the Finance Ministry have discussed methods to strengthen their efforts to prevent Ponzi schemes, says Fiscal Policy Office director-general Pornchai Thiraveja.

The Independent UK

Auditors in Iraq uncover staggering $2.5 billion tax fraud

Auditors in Iraq have uncovered a massive scheme in which a network of businesses and officials embezzled some $2.5 billion from the country’s tax authority, despite layers of safeguards

Bangkok Post

THAI expects to name new chief in January

Thai Airways International expects to name a new permanent CEO as early as January as it proceeds with its restructuring plan, acting CEO Suvadhana Sibunruang said on Friday.

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Arkhom Termpittayapaisith

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