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Tax Measures to Boost Domestic Consumption

Tax Measures to Boost Domestic ConsumptionOn 12 October 2020, the cabinet approved a draft Ministerial Regulation on tax measures to boost domestic consumption.

The tax measures have stated that individual persons (not partnerships and groups of persons) are entitled to a personal income tax allowance of up to Baht 30,000 for spending on domestic goods and services during the period from 23 October 2020 to 31 December 2020. Persons who have received stimulus package benefits under the government welfare cardholder scheme and the 50-50 co-payment scheme are not eligible for this allowance. Also, expenditure on the following goods and services cannot be claimed:

  • Liquor, beer and wine
  • Cigarettes
  • Gasoline and gas for vehicles
  • Cars, motorcycles and boats
  • Newspapers and magazines, whether in printed or electronic form
  • Services provided by tour operators
  • Hotel room accommodation

Further details of criteria, procedures and conditions will be prescribed by law shortly.

EY Corporate Services Limited has kindly provided this information to us. For more information, please contact Khun Yupa Wichitkraisorn (Partner) or Khun Kamolrat Nuchitprasitchai (Partner) at +66 2264 9090.

About EY Corporate Services Ltd.

In a world that’s changing faster than ever, our purpose acts as our ‘North Star’ guiding more than 300,000 people — providing the context and meaning for the work we do every day. We help digital pioneers fight data piracy; guide governments through cash-flow crises; unlock new medical treatments with data analytics; and pursue high-quality audits to build trust in financial markets and businesses. In other words, working with entrepreneurs, companies, and entire countries to solve their most pressing challenges. Through our four integrated service lines — Assurance, Consulting, Strategy and Transactions, and Tax — and our deep sector knowledge, we help our clients to capitalize on new opportunities and assess and manage risk to deliver responsible growth. Our high-performing, multidisciplinary teams help them fulfil regulatory requirements, keep investors informed and meet stakeholder needs.

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