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.
NESDB projects 1.5-2.5 percent growth in 2020
With help from the government’s economic measures, the National Economic and Social Development Board (NESDB) is expecting the Thai economy this year to grow just 1.5-2.5 percent.
This year, the country’s economy is facing another big concern from the COVID-19 virus situation. With help from the government’s economic measures, the National Economic and Social Development Board (NESDB) is expecting the Thai economy this year to grow just 1.5-2.5 percent.(more…)
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