Thailand launches tax incentives to fuel consumption
The Thai cabinet on October 12 approved tax incentives to boost domestic consumption in a bid to revive an economy struggling with impacts of the COVID-19 pandemic.
People shop for books qualified for tax rebates in 2018. The tax incentive scheme for shoppers will return this month. (Photo: //www.bangkokpost.com/)
Bangkok (VNA) – The Thai cabinet on October 12approved tax incentives to boost domestic consumption in a bid to revive aneconomy struggling with impacts of the COVID-19 pandemic.
Local media quoted Prime Minister PrayutChan-o-cha as saying that the government will offer a tax deduction of up to30,000 THB (nearly 1,000 USD) per person on purchases of goods and services.
Effective from October 23 until December 31, thetax deduction offer will apply to the 2020 tax year and to products andservices with a 7-percent value-added tax (VAT).
About 4 million people are expected to benefitfrom the programme, which is forecast to inject about 120 billion THB into thecountry's economy.
However, it will also cost the state about 12billion THB in missing tax revenue.
Danucha Pichayanan, deputy secretary-general ofthe National Economic and Social Development Council, said all types ofproducts and services with VAT will be included in the tax deduction programme,except for alcoholic beverages, tobacco products, government lotteries, fuel,accommodation services and air tickets.
Though Thailand has been relatively successfulin curbing the COVID-19 outbreak and most of economic activities have resumed,its central bank believes that it may take at least two years for the economyto return to the pre-pandemic levels.
The Bank of Thailand predicted an economiccontraction of 7.8 percent for the country this year./.
The Thai cabinet on October 6 approved the holding of provincial administration organisation (PAO) elections in December, as proposed by the Election Commission (EC).
Thailand is considering to allow migrant workers whose employment expires starting next month to remain in the country instead of having to return to their home countries to re-apply for employment from there.
The Industry Ministry of Thailand is pushing ahead with its ambitious plan to bring prices of electric vehicles (EVs) closer to those of traditional fuel-powered cars by reducing the import duty on auto parts used to assemble EVs in the country.
Thailand’s cross-border trade, including transit trade, fell by 7.42 percent year-on-year in the first eight months, mainly attributed to the impact of the COVID-19 pandemic and a slowing economy.
Thailand’s Ministry of Labour is warning Lao, Myanmar and Cambodian migrant workers to have their work permits renewed by October 31, or else they may face stiff punishment and be immediately deported back to their countries.
In his article, Oscar Sanchez Serra highlighted President Ho Chi Minh’s founding of the Thanh Nien (Young People) newspaper on June 21, 1925, which marked the birth of Vietnam's revolutionary press rooted in a bold and far-sighted vision.
Several ASEAN meetings are scheduled to take place in Port Dickson this September, including the Senior Officials' Meeting (SOM) for ASEAN Plus Three (APT), the East Asia Summit (EAS), the 15th ASEAN Maritime Forum, and the 13th Expanded ASEAN Maritime Forum.
Thailand's Prime Minister Paetongtarn Shinawatra has ordered the urgent implementation of a national policy to crack down on all forms of call centre scams, online fraud, and illegal gambling, which are now considered threats to national security.
Coordinating Minister for Economic Affairs Airlangga Hartarto and EAEU Trade Minister Andrey Slepnev jointly declared the conclusion of FTA talks on the sidelines of the 28th St. Petersburg International Economic Forum (SPIEF 2025), according to the statement.
The article stressed that throughout his revolutionary career, the founder of modern Vietnam consistently regarded the revolutionary press as a vital part of the Vietnamese Party’s and nation’s revolutionary struggle.
Pichai said the trade talks with the US are important and need to move forward professionally, without regard for any political changes in Thailand, believing that Thailand has clear principles, guidelines and procedures in place.
The tax adjustment supports the Malaysian Government’s strategy to reduce reliance on foreign food supply chains and to assist domestic farmers, a finance official has said.
The proposed venue is located in the Chatuchak area of Bangkok, featuring eight public sites, including Krungthep Aphiwat Central Terminal and several nearby parks.
Connectivity is expected to improve further with the completion of the fifth Laos–Thailand Friendship Bridge by the end of 2025, facilitating logistics and agricultural exports to Vietnam, Thailand, and China.
Two naval gunboats intercepted a fishing vessel carrying 1.5 tonnes of methamphetamine hydrochloride off the coast of the main island of Luzon just before dawn, in a joint operation with the Philippine Drug Enforcement Agency.
In the today context of socio-economic development and growth, the professionalism of Vietnam’s revolutionary journalists continues to rise, guided by exemplary mastery of new information technologies and the modernisation of their founding principles to preserve the enduring values of revolutionary journalism.
Thai Permanent Secretary of the Ministry of Commerce Vuttikrai Leewiraphan Thailand's formal proposal will be substantial enough for the US to consider further detailed negotiations. He hoped for a tariff rate not exceeding 10% and suggested that the US might extend the negotiation period if an agreement is not reached by the July 8 deadline.
Organised by the Ministry of Culture and the Association of Thai Silk & Culture Promotions, the event honors Her Majesty the Queen on her 47th birthday anniversary and promotes Thai craftsmanship on an international stage.
Prensa Latina's recent article on Vietnam’s assurance of smooth and effective transition to a leaner structure highlighted Prime Minister Pham Minh Chinh’s latest directions on implementing 28 resolutions regarding the decentralisation and delegation of authority.
The lab focuses on four key thematic areas: energy transition and green innovation, sustainable agriculture, circular economy and sustainable cities, and nature-based solutions and biodiversity.
The key content of the document titled "Accelerating Innovative Strategies: Addressing the OOSCY Challenges" will be refined further in a seminar preceding the 47th ASEAN Summit in Kuala Lumpur this October.
This follows Telegram’s serious failure to address the content that has been repeatedly reported to them, despite various efforts of negotiation and cooperation made by MCMC, it said.
Efforts to empower women must transcend dialogue and translate into concrete commitments, including corporate pledges and government partnerships, according to the spouse of Malaysian Prime Minister Anwar Ibrahim.
People shop for books qualified for tax rebates in 2018. The tax incentive scheme for shoppers will return this month. (Photo: //www.bangkokpost.com/) 
