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NEWS UPDATES Asean Affairs  April 10, 2018  





GDT reminds firms to mind US tax act FATCA

The General Department of Taxation on Friday issued a statement reminding Cambodian financial institutions to comply with the reporting requirements of the US’s Foreign Account Tax Compliance Act (FATCA).

Cambodia and the US have signed an agreement to enforce FATCA, which mandates that financial institutions holding certain amounts of money in accounts managed by US citizens must report that information to the US government.

The deadline for reporting on accounts active last year is June 29, according to the Tax Department’s statement. “In case of late submissions, insurance enterprises and financial institutions that are subject to reporting obligations under the FATCA agreement will face penalties as specified in the agreement,” the announcement says.



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ASEAN  ANALYSIS

This year in Thailand-what next?


AseanAffairs   04 January 2011
By David Swartzentruber      

It is commonplace in journalism to write two types of articles at the transition point between the year that has passed and the New Year. As this writer qualifies as an “old hand” in observing Thailand with a track record dating back 14 years, it is time take a shot at what may unfold in Thailand in 2011.

The first issue that can’t be answered is the health of Thailand’s beloved King Bhumibol, who is now 83 years old. He is the world's longest reigning monarch, but elaborate birthday celebrations in December failed to mask concern over his health. More

 


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