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Thailand boosts consumption with tax break

The Thai Government has passed a tax incentive to encourage shopping activities across the country at year’s end, boosting domestic consumer spending.
Thailand boosts consumption with tax break ảnh 1The Thai Government has passed a tax incentive to encourage shopping activities across the country at year’s end, boosting domestic consumer spending (Photo: www.nationmultimedia.com)

Bangkok (VNA) – The ThaiGovernment has passed a tax incentive to encourage shopping activities acrossthe country at year’s end, boosting domestic consumer spending.

The scheme runs in 23 days, startingNovember 11. Each individual taxpayer is allowed to deduct up to of 15,000 THB(450 USD) from the value of goods and services purchased.

The Finance Ministry of Thailandestimates that the incentive will cost two billion THB (60 million USD) of taxcollection. However, retailers and other sectors will rake in revenue of 10billion THB (300 million USD).

The scheme was not valid forpurchases of alcoholic drinks, tobacco, hotel rooms, airline tickets,automobile, motorbikes, ships and fuel. It is not applicable for tourists andforeigners, as they will be offered different incentives in the coming time.

The tax break has been launched forthe third consecutive year in Thailand to boost national economic growth.-VNA

VNA
#Thailand#Thai Government#tax incentive#consumer spending#economic growth#tax collection#tax break#vietnamplus#Vietnam News Agency.
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