(Fighting New Coronary Pneumonia) Thailand launches "shopping tax rebate" measures to stimulate consumption
China News Service, Bangkok, October 12 (Reporter Wang Guoan) The Thai cabinet approved the "shopping tax rebate" measure on the 12th to stimulate domestic consumption and boost the economy that has been deeply affected by the new crown pneumonia epidemic and has fallen into a downturn.
Thai Prime Minister Prayut said at a press conference after the cabinet meeting that day, the measure will be implemented from October 23 to December 31, and taxpayers' consumption of goods and services during this period can be deducted for personal income tax. , The maximum deduction per person is 30,000 baht, which is expected to bring 120 billion baht (approximately RMB 25.8 billion) of liquidity to the domestic economy.
The "shopping tax rebate" measure covers all products and services with 7% value added tax, but does not include alcoholic beverages, tobacco, government lottery tickets, gasoline, accommodation and air tickets.
The cabinet meeting on the same day also agreed to distribute 500 baht per month to 14 million people holding government welfare cards for a total of 3 months to help these people increase their spending power and tide over the epidemic.
The Thai think tank Kaitai Research Center believes that the "shopping tax rebate" measure will help boost Thailand's domestic consumption in the fourth quarter of this year and promote the improvement of the economy. The retail industry has benefited the most, especially the large operators in the value-added tax system.
However, this measure can only temporarily stimulate consumption, and the future recovery of consumption in Thailand will still mainly depend on the basic driving forces driving the economy, especially tourism, employment and agricultural income.
(Finish)