Connect with us
CGIF-10th-Year-Anniversary

Economics

Thailand approves 30K baht tax deduction to stimulate domestic spending

The campaign offers taxpayers income tax deductions of up to 30,000 baht when purchasing products and services with a value-added tax (VAT) component, but excludes alcoholic beverages, tobacco, lottery tickets, fuel, accommodation and air tickets.

National News Bureau of Thailand

Published

on

Pantip Plaza Electronic display

BANGKOK (NNT) – A meeting of cabinet ministers has approved the Shop Dee Mee Kuen campaign, aimed at stimulating domestic spending, taking effect from October 23rd to December 31st this year.

The Government Spokesman, Anucha Burapachaisri, said today that the cabinet had approved the Shop Dee Mee Kuen campaign, as proposed by the Ministry of Finance.

Tax deductions of up to 30,000 baht

The campaign offers taxpayers income tax deductions of up to 30,000 baht when purchasing products and services with a value-added tax (VAT) component.

The products and services include books and One Tambon One Product (OTOP) goods, but exclude alcoholic beverages, tobacco, lottery tickets, fuel, accommodation and air tickets.

Those who are eligible will have to file for their rebates on March 2021.

This economic stimulus measure will run from October 23rd to the end of this year. Eligible individuals do not include people participating in the project to increase the purchasing power of welfare card holders or the co-pay project.

3.7 million people are expected to apply

Some 3.7 million people are expected to use Shop Dee Mee Kuen privileges, which will mean that the government will lose about 14 billion baht in revenue. However, the campaign is expected to inject 111 billion baht into the domestic economy, boosting the gross domestic product (GDP) of the country by 0.03 percent this year.

Comments

Economics

EXIM Bank forecasts Thai exports growth as high as 4 per cent in 2021

Boris Sullivan

Published

on

EXIM Thailand President said that the Bank has forecasted Thai export growth of as high as 4%
in 2021 attributable to a short-term recovery of global trade and economy from a low base of -10%.

(more…)

Continue Reading

Economics

Thai private sector expects better economic recovery in Q4

The JSCCIB now expects the Thai economy in Q4, 2020 to continue recovering, with the annual performance this year expected to shrink to within the margin of -7 to -9 percent.

National News Bureau of Thailand

Published

on

BANGKOK (NNT) – The Thai economy is receiving a boost from government aid measures and improved export sector performance.

(more…)

Continue Reading

Banking

Fitch confirms Thailand’s rating at ‘BBB+’ with a Stable Outlook

Thailand’s ratings are supported by strong public and external finances, which have provided buffers to respond to the economic shock and market volatility associated with the coronavirus pandemic.

Bahar Karaman

Published

on

Fitch Ratings – Hong Kong – 29 Oct 2020: Fitch Ratings has affirmed Thailand’s Long-Term Foreign-Currency Issuer Default Rating (IDR) at ‘BBB+’ with a Stable Outlook.

(more…)

Continue Reading

Cart

Latest

Most Viewed

Subscribe via Email

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

Join 13,174 other subscribers

Trending