BANGKOK, Oct 8 (TNA) – The Centre for Economic Situation Administration (CESA) approved income tax deductions of up to 30,000 baht for taxpayers, purchasing products and services with a 7% value-added tax (VAT) from Oct 23 to Dec 31.
Deputy Prime Minister and Energy Minister Supattanapong Punmeechaow said the CESA meeting, chaired by the Prime Minister yesterday gave the green light for the tax rebate scheme to stimulate domestic economy.
The programme includes all products and services with VAT, OTOP local products and books except for alcoholic beverages, tobacco products, government lotteries, fuel, accommodation services and air tickets.
Taxpayers can use their right for the 2020 tax year.
However, welfare card holders who benefited from receiving allowances for spending and people who applied for cash handouts for buying consumer goods with the government subsidising 50% of their spending are not eligible for the tax deduction programme.
The new programme will lead to a loss of 11 billion baht in state revenue and the measure will be proposed to the Cabinet for approval next week.
All economic stimulus measures, implemented by the government are expected to see at least 200 billion baht circulating in the economy from October to December. (TNA)
