Thai Cabinet Gives Sales, Excise Tax Holidays

By Kevin Pinner (December 21, 2021, 5:19 PM EST) -- Thailand's cabinet approved tax cuts Tuesday to spur consumer spending next year, letting individuals claim a tax deduction of 30,000 baht ($893) for spending on goods and services from Jan. 1 to Feb. 15, according to a news release.

The plan is meant to help the Thai economy weather further pandemic restrictions, the cabinet said. The measure is expected to cost 6.2 billion baht in personal income tax revenue while putting 42 billion baht into the economy and adding 0.12% to gross domestic product, the release said.

Other measures included in the stimulus are excise tax holidays on jet fuel, tobacco,...

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