Economics
Thailand to implement measures to mitigate effects of coronavirus
New measures include extending the deadline for the paying of taxes from March to June, doubling the tax reduction on expenses incurred in organizing a seminar in Thailand

BANGKOK (NNT) – The Cabinet has approved the Ministry of Finance’s proposal to introduce monetary and tax-related assistance policies to mitigate the side effects of the 2019 novel coronavirus outbreak in China, that has caused a tremor in global public health and the world economy.
Spokesperson of the Ministry of Finance, Lavaron Sangsnit said today that the measures include extending the deadline for the paying of taxes from March to June, doubling the tax reduction on expenses incurred in organizing a seminar in Thailand this year, and reducing the rate of excise tax on jet fuel.
He said the policy also offers an extension of the debt payment period of state banks such as the Government Savings Bank, SME Development Bank, Bank for Agriculture and Agricultural Cooperatives, and Government Housing Bank.
The Ministry expects these measures will stimulate the Thai tourism economy amid the coronavirus outbreak, by increasing liquidity and easing the financial burden of entrepreneurs and members of the public, while also providing assistance to the tourism and aviation industries.
Economics
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BANGKOK (NNT) – Thailand’s fruit exports continue to increase, despite the sluggish global economy caused by the COVID-19 pandemic, with key trade partners being countries that have free trade agreements (FTAs) with the kingdom.
Economics
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Economics
50:50 campaign may not get immediate extension

BANGKOK (NNT) – The government’s 50:50 co-pay campaign expiring on 31st March may not be getting an immediate campaign extension. The Minister of Finance says campaign evaluation is needed to improve future campaigns.
The Minister of Finance Arkhom Termpittayapaisith today announced the government may not be able to reach a conclusion on the extension of the 50:50 co-pay campaign in time for the current 31st March campaign end date, as evaluations are needed to better improve the campaign.
Originally introduced last year, the 50:50 campaign is a financial aid campaign for people impacted by the COVID-19 pandemic, in which the government subsidizes up to half the price of purchases at participating stores, with a daily cap on the subsidy amount of 150 baht, and a 3,500 baht per person subsidy limit over the entire campaign.
The campaign has already been extended once, with the current end date set for 31st March.
The Finance Minister said that payout campaigns for the general public are still valid in this period, allowing time for the 50:50 campaign to be assessed, and to address reports of fraud at some participating stores.
The Fiscal Police Office Director General and the Ministry of Finance Spokesperson Kulaya Tantitemit, said today that a bigger quota could be offered in Phase 3 of the 50:50 campaign beyond the 15 million people enrolled in the first two phases, while existing participants will need to confirm their identity if they want to participate in Phase 3, without the need to fill out the registration form.
Mrs Kulaya said the campaign will still be funded by emergency loan credit allocated for pandemic compensation, which still has about 200 billion baht available as of today.