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. BANGKOK (NNT) – A meeting of cabinet ministers has approved…
Thai government to postpone tax increase on cheap cigarettes The Thai government is expected to delay a planned tax increase on cheap cigarettes, as well as agreeing a moratorium on excise duties for entertainment and sporting venues, provided they don’t lay off any staff. Cigarettes costing less than 60 baht a pack were expected to…
Prison skill centres proposed to help former inmates find jobs Finding a job can be difficult for someone who has just been released from prison. The Thai government wants to change that. They plan to build skill development centres for inmates and provide tax breaks for companies hiring ex-convicts. Minister of Justice Somsak Thepsutin spoke…
New land tax forces land owners to evaluate their options The new Land and Property Tax, which takes effect in January 2020, will be a challenge for the Thai property market, according to the managing Director of CBRE Thailand. In an open report to the media, CBRE says owners of vacant sites will pay significant…
EGCO posts 47% Q1 gain due to increased power generation Electricity Generating Public Company Limited is showing Bt2,915 million in first-quarter 2019 operating profit as it looks to future growth. Looking forward, EGCO Group is planning to convert its former power plant land in Rayong into an industrial estate within the Eastern Economic Corridor (EEC)…
Property slowdown looms over Thai market The Thai cabinet has approved last week cutting both housing transfer and mortgage fees to 0.01% for 12 months Some developing economies from Thailand to Dubai and Brazil are facing double-digit real estate sales declines on the back of weakening domestic growth, says Bloomberg. Bangkok Aerial Photograph and Chao Phraya…
Thailand’s International Business Center Incentives Under the Foreign Business Act (“FBA”), foreigners are legally restricted in doing certain businesses in Thailand as prescribed in the lists Annexed to the FBA. Fortunately, there are various possibilities to obtain official permissions. And there are also government schemes available which provide for tax exemptions and tax reductions. Until…
Thailand’s ongoing efforts to create a comprehensive ecosystem to support the country’s digital industry have been progressing rapidly in recent years thanks to such government flagship initiatives as Digital Park Thailand (EECD) and Smart City. The development of cutting-edge infrastructural facilities to support these initiatives has brought unprecedented opportunities for investors and business leaders, Thailand’s Board of Investment…
THE SHOPPING tax allowance to be announced next week by the government will satisfy the middle class, but will do little to boost the overall economy, a prominent economist said Wednesday. Anusorn Tamajai, dean of Rangsit University’s Economics Faculty, said the year-end shopping scheme is just a marketing strategy to please middle-class consumers. “It is…