Nod to tax waiver on Bt1,000 handout, 'cash back'

[snoop1130]

Nod to tax waiver on Bt1,000 handout, 'cash back'

By THE NATION

 

Spokeswoman Narumon Pinyosinwat

 

The Cabinet today (December 3) approved the Finance Ministry's proposed regulations to waive personal income tax on the financial privileges given to registered consumers, under the government's economic stimulus package "Eat, Shop, Spend".

 

This means the Bt1,000 handout and the 'cash-back' amount will not come into calculation for tax payment. The government spent a budget of Bt19 billion to fund the three phases of the campaign, spokeswoman Narumon Pinyosinwat said.

 

In the first two phases of the campaign, each registrant was given Bt1,000 and the 'cash back' perk while the third phase offered only cash rebate.

 

Lavaron Sangsnit, director-general of the Fiscal Policy Office and Finance Ministry spokesman, said recently that from the start of the campaign on September 27 to November 28, 11,761,099 people had registered under three phases with combined spending of Bt16.535 billion.

 

Source: https://www.nationthailand.com/business/30379041

 

-- © Copyright The Nation Thailand 2019-12-03

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[Toadie]

Interesting. Even to sceptics that is a government stimulous that has gone directly into the economy.

 

How about jumping over to the US Fed for a bit

[agood1963]

Take and give back sounds like a good idea .

[agood1963]

19 Billion taken from the people the same given back , very good for the economy . The only thing that will stimulate the thai economy is tourists spending money , and with the Baht to strong dream on thailand . 

[Scott Tracy]

Bizzare idea. Give money to people, some of whom you've taken it from and tell them to spend it. In the UK this would probably end up paying credit card debt and thus not stimulate the economy.

Nice to know it's tax exempt though. 

Sometimes I do wonder how the Thai government has any tax revenue. I never see anyone where I stay 'working' for money...