Thailand's economic fundamentals strong despite virus, no VAT cut - finance minister

[webfact]

Thailand's economic fundamentals strong despite virus, no VAT cut - finance minister

 

FILE PHOTO: Uttama Savanayana, the Palang Pracharat Party leader, talks to reporters during a press conference in Bangkok, Thailand June 4, 2019. REUTERS/Soe Zeya Tun

 

BANGKOK (Reuters) - Thailand's economic fundamentals remain strong and the government has no plans to cut its value-added tax(VAT) to boost activity hit by the coronavirus outbreak, the finance minister said on Thursday.

 

The government also has no immediate plans to lower taxes to support investment in the stock market <.SETI>, which iss tumbling on virus fears, but will wait to see if any measures are needed, Uttama Savanayana told reporters.

 

The VAT is currently 7%.

 

(Reporting by Kitiphong Thaichareon; Writing by Orathai Sriring)

 

-- © Copyright Reuters 2020-03-12

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[GeorgeCross]

50 minutes ago, webfact said:

Thailand's economic fundamentals remain strong

 

hahahahahahahahahahahahahahahahahaha

 

not a chance.

 

[Just1Voice]

Meanwhile, in Never Never Land. lol

[christophe75]

When those inane "officials" are going to shut their mouth ?

 

Fundamentals ?

 

Which ones ?

 

-Tourism ? Gone.

-construction / real estate ? Gone.

-car industry ? Gone.

 

Wake up.

 

In a few months, they will beg us to buy anything.... and they will lower the VAT.

[stephenterry]

I only care about a continued fall of the freaking baht  - so please admit as many Chinese as possible to engage in as many Covid 19 water fights as feasible when it is understood that Songkran cannot be cancelled by these governing jobsworths.

 

????????????????????????????

 

 

[keith101]

1 hour ago, webfact said:

The government also has no immediate plans to lower taxes to support investment in the stock market <.SETI>, which is tumbling on virus fears, but will wait to see if any measures are needed, Uttama Savanayana told reporters.

There is no need to lower the VAT Thailand will just go into recession soon enough and talk about strong economic fundamentals wont stop it .

[NCC1701A]

"Extinction event asteroid to strike the Earth. Thailand's economic fundamentals strong, no VAT cut."

[RichardColeman]

Old Shep on the Kareoke ? 

 

[Isaan sailor]

Wife got a call today from our local HomePro store.  Big value coupon ready for us—when can we come back to redeem it?  We had spent 30k Tb in January at their paint shop.

In seven years as loyal customer—never got a call back promo...

[BuddyPish]

2 hours ago, stephenterry said:

I only care about a continued fall of the freaking baht  - so please admit as many Chinese as possible to engage in as many Covid 19 water fights as feasible when it is understood that Songkran cannot be cancelled by these governing jobsworths.

 

????????????????????????????

 

 

You shouldn't hold your breath.
Just wait until the EU talks start and Britain's kamikaze negotiating tactics are laughed out by the markets.

Expect 35 baht to the pound this year.

 

2 hours ago, keith101 said:

There is no need to lower the VAT Thailand will just go into recession soon enough and talk about strong economic fundamentals wont stop it .

The whole planet's going into recession so it's no big deal. 

[phkauf]

Morons, if they wait until the defecation hits the oscillation, then it's far too late. The time to head off a recession is before it actually hits.

[DLock]

2 hours ago, RichardColeman said:

Old Shep on the Kareoke ? 

 

And now, the end is near
And so I face the final curtain
My friend, I'll say it clear
I'll state my case, of which I'm certain

[BestB]

If such statement came out from someone respectable , I would consider taking it seriously , but since  every position in this government is filled by incompetent people, I struggle with accepting what they say. Though I do agree cutting VAT would do little to boost economy which is so tourism and export reliant 

 

even reducing business tax would do little when businesses are closing down and people out of jobs. 

[Redline]

We all see, the virus exposes all of love these ying leaders 

Edited March 12, 2020 by Redline