Connect with us
CGIF-10th-Year-Anniversary

Banking

Thai SMEs get 5 billion baht gov funding

The Thai cabinet decided to inject the second portion of funding worth 5 billion baht to help improve the competitiveness of almost 100,000 small and medium-sized enterprises (SMEs).

Avatar

Published

on

The Thai cabinet decided to inject the second portion of funding worth 5 billion baht to help improve the competitiveness of almost 100,000 small and medium-sized enterprises (SMEs).

Industry minister Atchaka Sibunruang said that the second funding would target 15 projects ranging from improving the creativity and innovations of the SMEs, reengineering, promotion of product designs to skills development and franchise development.

The Commerce, Industry, Science & Technology ministries and the SME promotion office will jointly help implementing 11 projects aimed to help the SMEs at a total cost of 1.8 billion baht. Altogether over 27,000 SMEs will benefit from these projects.

Don’t punish the tax dodger

The Revenue Department is to recommend the Finance Ministry not to punish small- and medium-sized enterprises which failed to pay their taxes improperly or have several account books.
Revenue Department director-general Prasong Poonthanet disclosed on Monday there are about 2.7 SMEs throughout the country and only 400,000 were registered with the Commerce Ministry and, of these, only 200,000 of them actually filed their tax forms.

The new move is meant to encourage SMEs to enter the tax system and to properly file their tax forms so that the state can claim taxes from them.

But the move not to punish SMEs which failed to pay their taxes properly or have never filed their tax forms does not mean that they will be exempted from paying backdated taxes but they may be exempted from fines or have their fines substantially reduced.

Mr Prasong said that the new move would be announced during the New Year as a gift for the SMEs.

 

Comments

Banking

Thailand’s Public debt to GDP ratio within framework says Finance Minister

Currently, Thailand’s ratio of public debt to gross domestic product (GDP) stands at 49.34 percent, which is below the Fiscal Sustainability Framework set at 60 percent.

National News Bureau of Thailand

Published

on

BANGKOK (NNT) – The Thai economy is gradually recovering, with monthly economic indicators, such as the consumer confidence index and domestic spending, showing positive signs.

(more…)
Continue Reading

Banking

Raising inequality posing credit risks for sovereign in APAC countries

Governments with weaker social protection systems and tighter fiscal positions will face tougher challenges in tackling income inequality

Pr News

Published

on

By

Moody’s Investors Service says in a new report that the impact of the coronavirus pandemic will exacerbate income inequality in APAC, posing credit risk for sovereigns across the region and in particular for those with weaker fiscal capacity and social protection systems.

(more…)
Continue Reading

Banking

Bank of Thailand steps in to curb recent baht strength

Bank of Thailand accelerates measures to advance the development of the new Thai FX Ecosystem and to limit excessive currency volatilities

Olivier Languepin

Published

on

In a press release published on the 20th of November, the central bank’s Monetary Policy Committee (MPC) has expressed concerns over the rapid appreciation of the baht as this affects the fragile economic recovery.

(more…)
Continue Reading
Advertisement

Latest

Most Viewed

Subscribe via Email

Enter your email address to subscribe and receive notifications of new posts by email.

Join 13,413 other subscribers

Trending