The Bank of Thailand joined a global trend on Wednesday by raising the policy interest rate for the first time since 2011, by 25 basis points, aiming to stabilise the economy and build up policy space amid growing uncertainty. The Monetary Policy Committee (MPC) will prioritise data in determining the policy rate at each meeting, meaning […]
Read MoreThailand’s economic growth is projected to expand by 4.1% regardless of the outcome of the upcoming general election, with domestic growth engines expected to drive the uptick, says an executive from Bank of Ayudhya (BAY). But the country still needs to resolve persistent structural problems and address human capital development to enhance long-term competitiveness, said Somprawin Manprasert, […]
Read MoreThe “Downtown VAT Refund for Tourists” campaign has kick-started an initiative to set up counters in numerous locations across central Bangkok to help tourists obtain value added tax refunds when shopping at authorised retailers, the Revenue Department said on Tuesday. VAT refunds will be returned to tourists in the form of cash in baht, encouraging […]
Read MoreThe Cabinet yesterday approved the return of value added tax (VAT) to consumers buying products through debit accounts despite the move will to cost the government Bt9 billion in lost revenue. The programme will run from February 1 to February 15 next year. Finance Minister Apisak Tantivorawong said the Cabinet agreed with the return of […]
Read MoreThe Cabinet on Tuesday approved the Finance Ministry’s proposal of a 5-per-cent value-added tax refund for all shoppers during the Chinese New Year in February. The government will give shoppers the VAT refund when they purchase goods from February 1 to 15. The current VAT rate is 7 per cent. To take advantage of the […]
Read MoreAlthough the Bank of Thailand is likely to begin tightening monetary policy for the first time in over seven years at today’s meeting, high-ranking executives of commercial banks say they won’t pass on higher rates to clients. Banthoon Lamsam, chief executive of Kasikornbank (KBank), said there is no need for the bank to raise both deposits […]
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