Crypto taxes

- A + A KOTA KINABALU (May 20): A man professing to be a "Datuk" was arrested by the Malaysian Anti-Corruption Commission (MACC) Sabah on Friday for investigations into a case related to 'protecting' the falsification of crude palm oil sales tax declarations every month to the Sabah Ministry of Finance. Sabah MACC director Datuk S. Karunanithy said the arrest of the ‘Datuk’ followed the arrest of a senior government official and a retiree on May 18 for investigation in the same case under Section 17 (a) of the MACC Act 2009. “The 66-year-old suspect, who is a former civil servant, was arrested at the Sabah MACC office at about 4pm when he turned up to give his statement. “A remand application against the suspect is expected to be made at the Kota Kinabalu Magistrate's Court on Saturday,” he said in a statement here. At the same time, he reminded oil palm mill operators throughout Sabah to come forward to assist the investigation as the submission of a false … [Read more...] about ‘Datuk’ arrested in connection with falsified palm oil sales tax declarations

Indian Overseas Bank MD and CEO Partha Pratim Sengupta Indian Overseas Bank Managing Director and Chief Executive Officer Partha Pratim Sengupta says the government has not approached the lender with a privatisation proposal although occasional media reports speculate about its sale. It has only been from such reports that Sengupta has got to know about the proposal, he said. In fact, the government has not even hinted that the bank will be privatized, Sengupta told Moneycontrol in an interview on May 20. Sengupta said the bank is aiming to grow its advances by 12% in the current financial year with secular growth across retail, micro, small and medium enterprise (MSME), corporate and agricultural loans. Edited excerpts: What is your growth outlook for FY23? The focus is that we should grow advances 12% year-on-year, that is our aim. So far, the credit off-take trend, I would say, is better than what we have seen for the similar period in the last financial year. … [Read more...] about Interview | Indian Overseas Bank MD says no communication from Centre on privatisation, ‘not even a hint’

RBI Governor Shaktikanta Das. The Reserve Bank of India (RBI) Governor Shaktikanta Das on May 17 and May 18 met heads of state-run and private banks to take a stock of credit growth and asset quality in the banking system in the wake of recent geopolitical developments, the central bank said. “In his introductory remarks, the Governor noted the key role played by the banks in supporting the economy throughout the pandemic,” the central bank said in a release on Wednesday. Das further stated that the banking sector has remained resilient and has continued to improve despite facing various headwinds. He also advised banks to remain watchful of the recent geopolitical developments and take mitigating measures proactively including raising capital for ensuring that the potential impact on their balance sheets is minimised. Governor Das also urged banks to pay specific attention to further improving their grievance redress systems and continue to provide the necessary support … [Read more...] about RBI Governor meets bank chiefs to discuss credit growth, asset quality

Customers will have to enter the details afresh for each transaction from July 1 Starting July 1, payment aggregators and gateways and merchants onboarded by them will not be allowed to store credit and debit card data of customers on their platforms, as directed by the Reserve Bank of India. With a little over a month left, merchants are worried that an alternative system may not be ready in time. Payment aggregators, payment gateways and merchants can store card credentials of customers in their databases only until June 30, a deadline that has already been extended twice, most recently by six months on December 23. In the absence of an alternative mechanism, customers using their credit or debit cards from July 1 will have to enter the details afresh for each transaction, including the 16-digit card number, expiry date and card verification value (CVV). Payment companies and card networks Visa, Mastercard and RuPay are working to implement the alternative – Card on File … [Read more...] about Payment disruption fears linger as deadline nears for merchants to delete customer card data

Representative image In what could be a major blow to Apple's subscriptions, the company has stopped accepting debit and credit cards for payments on its platforms in India as the June 30 deadline set by the Reserve Bank of India (RBI) for all merchants to stop saving card data of customers draws closer. Customers can now only use NetBanking, Unified Payments Interface (UPI) and their Apple ID balance to make payments, Apple said in an email to customers which was viewed by Moneycontrol. "In light of upcoming Reserve Bank of India regulations, starting June 1, credit and debit cards can no longer be used for purchases or subscriptions on the App Store or other Apple services. Apple will no longer store card information on file — protecting your payment method is our top priority," the mail read. The mail further added that customers' subscriptions will continue only of they have sufficient balance in their Apple wallets. "Your subscriptions will continue as long as you … [Read more...] about Apple stops card payments in India ahead of RBI deadline to delete customer card data

Share to Twitter Share to Linkedin The Preakness Stakes’ age-old form as the deceptively “shorter” centerpiece that has dashed many a Triple Crown dream will be turned on its head this year, as the 2022 top favorite Epicenter will attempt to turn the 147th running of the stakes into a rebound, of sorts, from his inability to hold the lead against a furious assault by longshot Rich Strike in the last furlong of the Kentucky Derby on May 7. Two weeks is not a long time between horse races at any level, let alone as an interval between two Triple Crown runs. The density of the gauntlet in which the Class of 2022 operates at the moment is why there have been just thirteen Triple Crown winners. Epicenter’s profile took quite a blow as the 80-1 longshot Rich Strike breezed by him in the Derby. Now he’s got the chance, in a Rich-Strike-free field, to claw himself and his reputation out of the hole in which his inability to defend his lead in the Derby left him. … [Read more...] about Preakness Stakes 2022: Post Positions, Odds, The Filly Challenger, And Epicenter’s Run For Redemption