Automobile financing for people with bad credit

SINGAPORE: About S$370 million in government payouts under the Jobs Support Scheme (JSS) were erroneously credited to about 5,400 companies in October last year, after mistakes were made in computing the disbursements. The overpayments make up about 6 per cent of the total amount paid out under JSS last October, said the Ministry of Trade and Industry (MTI), the Ministry of Finance (MOF) and the Ministry of Manpower (MOM) on Thursday (Apr 8). Explaining what happened, the ministries said the payouts were computed based on the dates that the companies reopened after the COVID-19 “circuit breaker”, which ended in June last year. However, there had been “errors in the compilation and processing of business reopening dates”, said the ministries in a media release. The companies that were paid extra were erroneously tagged as having reopened later, making them qualify for a higher payout. About 5,400 firms were affected, or about 3.6 per cent of all companies that received ... » Learn More about About S$370 million in payouts erroneously credited to firms under Jobs Support Scheme in October

MIDF group managing director Datuk Charon Wardini Mokhzani said the MoU underlines the close relationship between MIDA and MIDF and their joint commitment to support companies that aspire to automate and modernise. "As a nation, we need to increase productivity and value-add Malaysian businesses to higher levels in our path towards a high-income nation. Investing in automation and digitalisation is one way to achieve this,” he said in a statement today. According to the statement, the collaboration aimed to promote and facilitate the SAG’s utilisation through a strategic alliance. "Under this alliance, MIDA will provide grants for qualified companies, whereas MIDF will offer financing to these companies for their remaining expenses. "Additionally, qualified companies already enjoying financing facilities from MIDF may lower their financial commitment upon successful application for SAG,” it said. It said the SAG initiative, introduced in the National Economic Recovery Plan ... » Learn More about MIDF partners MIDA to promote smart automation grant to SMEs, MTCs

“My ultimate goal [in Mynt] is not only to provide more game-changing services to Filipinos, but I also want to build convenient products that are as ‘easy as messaging.’ All you will need is a phone, preferably a smartphone, with access to the internet.” Top executive promotes the convenient electronic wallet Globe Telecom Inc. invested in this technology, branded as GCash as early as 2005 and launching it as a full-fledged app in 2012. To help expedite growth, its holdings company Mynt was established in 2015, with Globe and Ayala and, eventually, Alipay as major stockholders. Credible product Previously, Sazon was Globe senior vice president, heading its broadband business. She supervised the introduction of the popular Globe Prepaid wi-fi service, among other products. “In my 12 years with Globe, I actually watched GCash grow from the sidelines,” she says. “I was always a fan of its goal to make ‘finance for all’ happen. So when I was offered the role of Mynt CEO by ... » Learn More about Fintech champion

KUDOS to President Rodrigo Duterte for following the recommendation of his economic team and certifying as urgent proposed amendments to the Public Service Act, the Foreign Investments Act and the Retail Trade Liberalization Act. The ball, as the saying goes, is now in Congress’ court. Finance Secretary Carlos Dominguez 3rd said the President had certified as “urgent” Senate Bill 2094, or “An Act amending Commonwealth Act 146, otherwise known as the Public Service Act”; SB 1156, or “An Act promoting foreign investments, amending thereby Republic Act 7042, otherwise known as the Foreign Investments Act of 1991”; and SB 1840, or “An Act amending Republic Act 8762, otherwise known as the Retail Trade Liberalization Act of 2000.” In a letter to Senate President Vicente Sotto 3rd on April 12, Duterte said the passage of the measures will “address the immediate and continuing need for legislative reforms to provide a more conducive investment climate, increase job opportunities, foster ... » Learn More about Economic bills are not just urgent but imperative

SINGAPORE: The Government aims to recover the full amount of about S$370 million wrongly paid to companies in October last year as part of the Jobs Support Scheme (JSS). "We will do all we can to recover the excess disbursements while ensuring that we minimise inconvenience to firms throughout the process,” said the Ministry of Trade and Industry (MTI), the Ministry of Finance (MOF) and the Ministry of Manpower (MOM) late on Thursday (Apr 8) in response to CNA's queries. "The Government aims to recover the full amount of overpayment," they added. “For firms that face difficulties in returning the excess payouts, we will provide them with the options of repaying in instalments. This will help firms to ease cashflow, especially for affected small and medium enterprises (SMEs).” When asked what will happen if companies do not return the excess amount, and whether they will face penalties, the ministries said that businesses that need further assistance may write in. “We will ... » Learn More about Government aims to recover all S$370 million wrongly paid to firms as part of Jobs Support Scheme

SINGAPORE: More than S$3 billion in payouts will be disbursed to employers under the Jobs Support Scheme (JSS) from Mar 30. The payouts will be given to more than 150,000 employers to support the wages of more than 2 million local employees, said the Inland Revenue Authority of Singapore (IRAS) and Ministry of Finance (MOF) on Thursday (Mar 25). "With this payout, over S$24.5 billion of JSS support would have been disbursed since the introduction of the scheme at the Unity Budget in February 2020," they said in a press release. The JSS provides wage subsidies to help companies retain and pay their local workers as businesses take a hit from the COVID-19 pandemic. Employers who made mandatory Central Provident Fund (CPF) contributions for their local employees for the months of September to December 2020 by the stipulated deadlines will qualify for the payout. For the upcoming payment in March, employers will receive up to 50 per cent support for the first S$4,600 of gross ... » Learn More about Employers to receive more than S$3 billion in Jobs Support Scheme payouts from Mar 30

Tax conventions or treaties are mechanisms imposed by a state in order to minimize the effects of double taxation. They provide double taxation reliefs to taxpayers in the form of tax exemptions or preferential tax rates. Tax treaties are part of the law of the land. In the case of Deutsche Bank AG Manila Branch vs Commissioner of Internal Revenue (GR 188550, August 19, 2013), the Supreme Court held that an application for the availment of tax treaty relief should not operate to divest entitlement to the relief as it would constitute a violation of the state’s duty to good faith in complying with a tax treaty in good faith. This is pursuant to the time-honored international law principle of pacta sunt servanda that demands the performance in good faith of treaty obligations on the part of the states that enter into the agreement. Thus, the Supreme Court held that an application for tax treaty relief filed with the Bureau of Internal Revenue (BIR) should merely operate to confirm ... » Learn More about Application of Tax Treaties

Nas Daily (left) and Wil Dasovich (Image: Instagram/@nasddaily; @wil_dasovich) Online content creator Nuseir Yassin, popularly known as Nas Daily, told fellow vlogger and friend Wil Dasovich that it is “impossible” for influencers like them to just stay away from politics. Dasovich joined Yassin in the second episode of the latter’s podcast titled “Nas Talks,” available on Spotify since July 15, to talk about the positive and negative impact of social media on Filipinos. Discussing the recent denial of ABS-CBN’s franchise renewal bid, the two acknowledged how the internet-loving Filipinos will now turn to content creators like them for information. Dasovich admitted, however, that he was not updated with current affairs as he had been choosing to stay away from news and politics, in accordance with his “golden rule.” “I just have to stay more away from politics. I kind of have a golden rule, it’s I try to limit and not talk about politics because you’re always going to upset ... » Learn More about Vlogger Nas Daily to Wil Dasovich: Influencers cannot stay away from politics

LONDON (AFP) - A drip-feed of revelations over the collapse of an opaque financial firm is raising serious questions about cosy ties between UK politicians, civil servants and big business as the government spends lavishly on fighting the coronavirus pandemic. Greensill Capital risks turning into the worst Westminster scandal since 2009, when it emerged that many MPs had been fudging their expenses, fuelling public disgust with the political class in the years leading up to Britain's 2016 Brexit referendum. "Every day there's further evidence of the sleaze that's now at the heart of this Conservative government," opposition Labour party leader Keir Starmer told Prime Minister Boris Johnson in Parliament on Wednesday (April 14). Mr David Cameron, the prime minister who made a catastrophic bet that Britain would opt to stay in the European Union, stepped down after the 2016 referendum and went on to become a paid adviser to Greensill, amassing share options potentially worth ... » Learn More about Sleaze scandal infects UK politics amid Covid spending spree

Singaporeans will likely have to wait longer for a new leader to succeed Prime Minister Lee Hsien Loong, who has ruled the island city since 2004. The potential successor that Lee had groomed, Deputy Prime Minister and Finance Minister Heng Swee Keat, announced his resignation as a candidate for the premiership on April 8. The devastating impacts of the COVID-19 pandemic are among the reason for Heng’s early exit, while there are also views that Lee himself is not fully prepared for the carefully choreographed succession. According to the original plan, next year, Singapore’s fourth-generation (4G) leadership, with Heng as the leader, would end the third generation’s leadership under Lee. The second generation was under Goh Chok Tong, who ruled Singapore for 14 years and handed over the power to Lee Hsien Loong in 2004. The country’s founding prime minister, Lee Kuan Yew, who was Prime Minister Lee’s father, was in power from 1965 until 1990. Heng’s announcement ended the long ... » Learn More about Singapore’s failed plan