Govt pushing to cut more business costs after halving company registration fee

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Govt pushing to cut more business costs after halving company registration fee

By The Nation

 

Weerasak Wangsuphakijkosol

 

The Commerce Ministry has urged the Business Development Department to find more ways of reducing costs for the private sector amid the Covid-19 crisis, deputy minister Weerasak Wangsuphakijkosol said on Thursday.

 

This month, the ministry cut the e-registration fee for new companies by an extra 20 per cent, for a 50-per-cent reduction on the normal fee. As a result, the fee to register a limited company via the online channel has been reduced from Bt5,500 to Bt2,750 until December 31, 2023.

 

Meanwhile, the e-registration fee for limited partnerships has been lowered to Bt500.

 

The move stems from a Cabinet resolution in January last year that state agencies must revisit their business registration fees to lower the cost of starting businesses, and also encourage business registration via the online channel.

 

Weerasak said the fee reduction might cost state coffers Bt165 million per year but would benefit the business sector.

 

Source: https://www.nationthailand.com/business/30400864?utm_source=category&utm_medium=internal_referral

 

-- © Copyright The Nation Thailand 2021-01-07

 

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The strong baht might offset any benefit to businesses that export.