Connect with us
Load WordPress Sites in as fast as 37ms!

Business

Thailand’s Shopping stimulus scheme kicks off for 23 days

The tax break shopping scheme or “Shop Chuay Chart” started this week in Thailand as shoppers flocked to various supermarkets and department stores to buy and get receipts for deduction on their annual personal income tax

Avatar

Published

on

The tax break shopping scheme or “Shop Chuay Chart” started this week in Thailand as shoppers flocked to various supermarkets and department stores to buy and get receipts for deduction on their annual personal income tax.

Today, many major retailers rolled out sales promotions to attract customers to shop and boost sales during the Shop Chuay Chart campaign which will last until Dec 3, or 23 days in total.

Under this measure, an individual income taxpayer can deduct the value of domestic purchases of goods and services from personal income tax. The goods and services bought must be for use in the country only.

However, the tax deduction will be capped at 15,000 baht.

The government expects the tax break shopping could boost sale at least 30%.

But some shoppers reportedly lodged complaints with the Internal Trade Department (ITD) that traders have deliberately removed discount price tags of goods on shelves and put new price tags higher than the earlier price tags, indicating that they intended to exploit the state-promoted campaign to stimulate economy.

Not allowed for deduction

Complaints from the public immediately prompted the ITD to issue stern warning that any traders found to behave unethically by deliberately raising good prices would face legal actions.

Officials were sent to several shopping places to check out the alleged unethical practices by traders.

Central Pattana or CPN, a major retailer and property development company, has spent more than 400 million baht for the promotion campaign, while Tesco-Lotus is offering  30-50% discount promotions.

Some Tesco branches will also extend their operating hours to give customers more time to shop.

Online shoppers are also advised to request for the full receipts in order to enjoy the tax privilege.

Taxpayers who will be benefitted from the tax break campaign are those earning 150,001 baht or more a year and have purchased the products with value-added tax.

The products which are exempted from the value-added tax are not applicable to the tax break such as book, textbook, gold bullion, alcohol, beer and wine.

The post Shopping stimulus scheme kicks off today appeared first on Thai PBS English News.

Source link

0/5 (0 Reviews)
Advertisement Load WordPress Sites in as fast as 37ms!
Comments

Business

Thailand unaffected by U.S. restrictions on Huawei

The NBTC has confirmed that Thai people can still use current Huawei phones, though users may not be able to use some applications from the US on Huawei’s future phone models

Avatar

Published

on

The Secretary-General of the National Broadcasting and Telecommunications Commission (NBTC) disclosed today that Thailand has not been affected by the United States’ curbs on Huawei at this stage.

(more…)
4/5 (1 Review)
Continue Reading

Business

Thailand cooperates with Indonesia to push creative industries

Both countries aim to develop target creative industries, especially the fashion industry, the design industry and the broadcasting industry

National News Bureau of Thailand

Published

on

Thailand cooperates with Indonesia to push for creative industries

BANGKOK, 14 MAY 2019 (NNT) – Thailand joins hands with Indonesia to push for creative industries starting with three major industries with a growth target of five percent per year.

(more…)
0/5 (0 Reviews)
Continue Reading

Business

Thailand to become 4th largest production base for EV batteries in Asia

KResearch forecasts that the EV market share in the next five years will increase to one-fourth, or 240,000 units, of the total car sales nationwide

Boris Sullivan

Published

on

The booming electric vehicle (EV) market in Thailand is increasingly evident in 2019 as a number of automakers have sought the Board of Investment (BOI)’s incentives to produce EVs here.

(more…)
0/5 (0 Reviews)
Continue Reading

Most Read

Must Read

Trending