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Thailand: Retailers accused of subsidy scheme breach
The Finance Ministry has submitted information to the Economic Crime Suppression Division (ECD) for an investigation into three stores that could be in breach of the government’s co-payment scheme conditions.
The information is intended to be used as additional evidence for legal prosecution, said Pornchai Theeravet, deputy spokesman of the Finance Ministry and adviser on financial at the Fiscal Policy Office.
The three stores, unnamed, are suspected to be in breach of the scheme’s conditions, said Mr Pornchai, without elaborating on the details.
Their right to use the Tung Ngern application for the government’s cash subsidy has been suspended, he added.
Mr Pornchai reiterated that the Finance Ministry and Krungthai Bank have collaborated closely to monitor any breaches of the scheme’s conditions.
Offenders will not only be suspended from using payment applications, but legal prosecution will also be enforced in line with the relevant laws, he said.
The co-payment scheme, which started on Oct 23 and will end on Dec 31, is intended to stimulate private consumption through subsidies for half the price of the products sold at small shops nationwide.
The purchase subsidy is capped at 150 baht per day and 3,000 baht per person throughout the period. A maximum of 10 million people have registered for the scheme.
The “Shop Dee Mee Khuen” project, a newly launched tax rebate scheme that allows people to deduct up to 30,000 baht spent on certain goods and services, allows commission fees for securities trade to be deducted from taxes, said Mr Pornchai.
The commission fee for securities trading is considered as a form of service, but a full tax invoice is required and securities trades must be done within the scheme’s timeline, he said.
Source: https://www.bangkokpost.com/business/2014131/retailers-accused-of-subsidy-scheme-breach