#3. Blockchain – the benefits of smart contracts

#3. Blockchain – the benefits of smart contracts

One of the most promising applications of blockchain technology is the smart contract. It can execute commercial transactions and agreements automatically. It also enforces the obligations of all parties in a contract – without the added expense of a middleman. 

#2. Blockchain – the future of share trading

#2. Blockchain – the future of share trading

Share trading will soon be impacted by the blockchain. Utilizing blockchain technology potentially allows for greater trade accuracy, and a shorter settlement process. 

#1. Blockchain – speeding up and simplifying cross-border payments

#1. Blockchain – speeding up and simplifying cross-border payments

The transfer of value has always been an expensive and slow process. This is particularly true for cross-border payments. The blockchain is able to speed up and simplify this process – and also reduces the costs significantly. 

Withholding Tax (WHT) rate on building and construction contracts reversed from 2.5% to 5%

The Minister of Finance has approved the reinstatement of Withholding Tax (WHT) rate of 5% on all aspects of building, construction and related activities. The approval was given via an official gazette dated 23 November 2016.