The Revenue Department is set to raise the ceiling for value-added tax (VAT) refunds for tourists at downtown agents to 30,000 baht per traveller from 12,000 baht at present. The tax-collecting agency plans to expand cash payment services for VAT refunds to tourists at 10 international airports nationwide instead of just Suvarnabhumi and Don Mueang […]
Read MoreThe government needs to pump more money into circulation — a range of 30-50 billion baht — to reach the target of 3% economic growth this year, says the University of the Thai Chamber of Commerce (UTCC). The second phase of the cash handout scheme, which will be forwarded for cabinet approval on Oct 22, […]
Read MoreThailand placed in the bottom five out of 47 countries ranked for privacy protection, according to a study by Comparitech, a website that researches and compares tech services. Thailand and Malaysia posted scores of 2.6 out of 5, trailed only by India (2.4), Russia (2.1) and China (1.8) in the first-time study. Ireland ranked first […]
Read MoreThe Excise Department will cut the tobacco tax to 2.5 satang per gramme from 10 satang for one year, starting Jan 1, 2020, to give farmers time to adjust. The move comes after tobacco farmers cried foul that a higher tax rate of 10 satang per gramme enforced from May 7, 2019 had taken a […]
Read MoreThe Commerce Ministry’s priority plans for export stimulus, an income guarantee for farmers, cost-of-living supervision and trade talks will remain intact despite the ministry’s allocated budget for fiscal 2020 being cut by 7.7% or 599 million baht to 9.812 billion baht. Commerce Minister Jurin Laksanawisit insisted yesterday that the lower budget is mainly because the […]
Read MoreA recent study showed that most businesses in Thailand are in the hands of a few companies, which is causing a huge inequality of income and wealth, and the only way out is to promote market competition and reduce monopoly. Krislert Samphantharak Krislert Samphantharak, director and secretary of the Puay Ungphakorn Institute for Economic Research […]
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