Thailand announces new tax refund scheme to boost consumption

December 06, 2023 | 17:13

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Thailand has announced a new tax refund scheme to stimulate domestic spending and encourage the use of electronic invoices.

Thailand announces new tax refund scheme to boost consumption | World | Vietnam+ (VietnamPlus)

The programme “Easy E-Receipt” allows inpiduals to claim a tax deduction of up to 50,000 THB (1,400 USD) for purchases made from businesses using the e-tax system from January 1 to February 15 next year. (Source: bangkokpost.com)

Bangkok – Thailand has announced a new tax refund scheme to stimulate domestic spending and encourage the use of electronic invoices.

Pornchai Thiraveja, Spokesman of the Finance Ministry and Chief of the Fiscal Policy Office, said that the programme “Easy E-Receipt” allows inpiduals to claim a tax deduction of up to 50,000 THB (1,400 USD) for purchases made from businesses using the e-tax system from January 1 to February 15 next year.

However, the rebate excludes expenditures on alcoholic beverages, tobacco, vehicles, and certain utilities and services like mobile phones, Internet service and non-life insurance, Pornchai noted.

According to the official, the programme, part of the government’s economic stimulus measures, aims to boost the economy and persuade businesses to adopt the e-tax system. Business information on issuing electronic invoices and receipts is available on the Revenue Department’s website.

The tax refund policy is part of economic stimulus measures announced by the Thai Government early last month. Thai Prime Minister Srettha Thavisin affirmed that the government has collected information to develop policies that meet people's needs.

As the tax refund policy will take effect in early 2024, there are concerns that consumers will delay spending during the year-end shopping season and wait until next year to get the refund.

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By VNA

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