Tax waiver granted for cash-back amount from ‘Eat, Shop, Spend’ scheme

[webfact]

Tax waiver granted for cash-back amount from ‘Eat, Shop, Spend’ scheme

By THE NATION

 

Government Spokeswoman Narumon Pinyosinwat

 

The Cabinet on Tuesday (March 4) agreed to waive personal income tax on financial privileges given to registered consumers under the government’s economic stimulus package “Eat, Shop, Spend” in phase 2 and 3, Government Spokeswoman Narumon Pinyosinwat said.

 

The campaign, which ran from the third quarter of 2019 to early 2020, is aimed at promoting domestic tourism and consumption to boost the country’s economy amidst the global economic slowdown due to the international trade war.

 

According to the Ministry of Finance proposal, the “cash back” amount granted to those registering will not be considered for calculation of tax. The maximum cash returned to each person is Bt8,500, if the registered person spends at least Bt50,000 on domestic travel, products or services during the campaign period. Those who spend less than Bt30,000 receive 15 per cent cash back while those who spend over Bt30,000 are entitled to 20 per cent cash back of the amount exceeding Bt30,000.

 

“The Revenue Department has reported to the Cabinet that the waiver will cost the government Bt7.6 billion in lost revenue, but the move will leave people with more disposable income after paying income tax, which should help further promote domestic consumption this year,” said Narumon.

 

“Furthermore, the campaign has helped increase people’s spending via the electronic channel which is in compliance with the government’s national e-payment policy.”

 

Source: https://www.nationthailand.com/news/30383325

 

-- © Copyright The Nation Thailand 2020-03-04

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[rasmus5150]

Can't concentrate on the article, because she looks so evil with her black demon contact lenses.

[graemeaylward]

23 hours ago, webfact said:

According to the Ministry of Finance proposal, the “cash back” amount granted to those registering will not be considered for calculation of tax. The maximum cash returned to each person is Bt8,500, if the registered person spends at least Bt50,000 on domestic travel, products or services during the campaign period. Those who spend less than Bt30,000 receive 15 per cent cash back while those who spend over Bt30,000 are entitled to 20 per cent cash back of the amount exceeding Bt30,000.

And how many of the general populous of this country have that amount to spend? As most labourers in Isaan earn around 300 baht a day, 9,000 baht a month for 7 days a week, They would have to spend almost 6 months wages to accrue any benefit.  These sort of schemes provide tax breaks and benefits only for those who don't need them in the first place!