# Thai government clarifies rules for withdrawing cash from digital wallets

- Link: https://www.thailand-business-news.com/economics/155983-thai-government-clarifies-rules-for-withdrawing-cash-from-digital-wallets
- Published: 2024-08-13T07:58:00+07:00
- Author: NNT

Deputy Government Spokesperson Karom Polpornklang clarified the procedures for merchants
in the Digital Wallet scheme, countering online claims about alleged transaction
limitations.

## Key Takeways

 * Deputy Government Spokesperson Karom Polpornklang clarified the procedures for
   merchants in the Digital Wallet scheme, countering online claims about alleged
   transaction limitations. He emphasized that the scheme supports small merchants
   allowing local, face-to-face, electronic payments, and excludes large department
   stores and wholesale entities.
 * Karom explained that while immediate cash withdrawals post-consumer transactions
   aren’t allowed, merchants can withdraw cash after meeting legal sales criteria
   among themselves. These transactions must involve merchants who adhere to tax
   laws including VAT, corporate, or personal income tax regulations.
 * The Ministry of Commerce has extensively debunked misleading claims, offering
   clear operational guidelines. Merchants must show tax compliance for the last
   two fiscal years, or continuous tax records if in business for less than two 
   years, to be eligible for cash withdrawals. The deputy spokesperson urged stakeholders
   to consult official sources for accurate information to maintain the project’s
   credibility.

BANGKOK (NNT) – Deputy Government Spokesperson Karom Polpornklang recently clarified
the procedures for cash withdrawals by merchants participating in the Digital Wallet
scheme. His remarks were in response to incorrect online claims that suggested limitations
on merchant transactions, specifically that cash withdrawals were not permitted 
and transactions were confined to large retail stores.

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At a press conference, Karom explained that the project is designed to support small
merchants. It allows them to conduct transactions within their local districts through
an electronic payment system, ensuring these are direct and face-to-face. The system
explicitly excludes transactions with large department stores and wholesale entities.

Karom specified that while immediate cash withdrawals are not available after transactions
with consumers, merchants can withdraw cash following sales among themselves, provided
they meet legal sales criteria and adhere to tax laws, including VAT, corporate 
income tax, or personal income tax regulations.

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The Ministry of Commerce has thoroughly investigated and debunked the false claims,
providing clear guidelines on the operational framework of the project. For eligibility
to withdraw cash, merchants must demonstrate consistent tax compliance, having filed
returns for at least the previous two fiscal years. Those who have been in business
for less than two years must show uninterrupted tax records since their inception.

To avoid misinformation affecting the project’s credibility, the deputy government
spokesperson urged sellers and buyers to access information directly from the Ministry
of Commerce’s official website at www.moc.go.th or contact its dedicated call center
at 1203.

[Source link ](https://thainews.prd.go.th/nbtworld/home/)