Tax Refund Backed Shopping Sprees By Well-To-Do To Kick Off Soon

[webfact]

 

DOMESTIC CONSUMPTION will likely grow due to anticipated shopping sprees by well-to-do people, given a tax refund campaign during an early part of next year, confirmed Deputy Finance Minister Julapun Amornvivat today (Nov.27).

 

Given the “easy e-receipt” campaign, earlier called the “e-refund” campaign, all Thai nationals aged 16 and over who may currently earn a minimum of 70,000 baht in monthly income or have a minimum of 500,000 baht in bank account can shop a maximum of 50,000 baht in market value of merchandise in the boundaries of their home district and be entitled to a maximum of 10,000 baht in refund of their personal income tax, Julapun said.

 

The “easy e-receipt’ campaign scheduled to be effective from January 1 until February 15 is primarily designed to have those well-to-do consumers take part in stimulating domestic consumption on a short-term basis, according to the deputy finance minister.

 

By Thai Newsroom

A representative image of shopping to claim tax refund by the well-to-do.

 

Full story: THAI NEWSROOM 2023-11-28

 

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[mtls2005]

So the "well-to-do" will likely get "their" 10,000 baht before the less well-to-do get their imaginary digital wallet.

 

A less tax revenue, given the 10,000 baht rebate. However will they make that up?

 

Not sure how much "domestic consumption" the well-to-do generate with their 10,000 baht.

 

 

 

 

[JoePai]

Why only Thais ?

[tomazbodner]

So this is to fill in that gap of exactly these people being excluded from the 10k baht handout... Quite clever marketing. In the end this one might stay and the other one get scrapped for breaching financial discipline...

[edwinchester]

Govts the world over seem to love giving tax breaks to those who least need them.

[Tropicalevo]

2 hours ago, JoePai said:

Why only Thais ?

Only Thais can vote.

In a democratic country, this is called 'vote buying'.

[Dogmatix]

It's less generous than the Prayut governments shopping tax rebates. Those schemes allow you to get a tax rebate on 30,000 baht that was not limited to 10,000 but based on your top progressive tax rate. Under that scheme, if your top rate of tax is the maximum 35%, you would get 17,500 back on 50,000, not just 10,000.

[hotchilli]

6 hours ago, webfact said:

 

DOMESTIC CONSUMPTION will likely grow due to anticipated shopping sprees by well-to-do people, given a tax refund campaign during an early part of next year,

Well-to-do people don't need a tax break... 

[Presnock]

3 hours ago, edwinchester said:

Govts the world over seem to love giving tax breaks to those who least need them.

You got that right...I am an American, have paid my taxes every year religiously and when Trump was president he jumped at the tax break too....for the billionaires!!!! and big business while we in the middle class continue to be pushed lower and lower with the tax breaks we don't get and meanwhile due to the fewer taxes from the rich, during Trump's 4 years in power, our debt zoomed 8 trillion dollars!! It continues under Biden...but with the Congress we have, they won't fix any of the problems while they continue to blame Biden...I am definitely not a Biden fan but nowadays not a fan of any US politicians!  Our  Congress refused to even floor a bill that would not allow them to continue with insider trading - from their sometimes very late (by law) in reporting the same some are trading in the 10's of millions...that is why they all retire (on a yearly benedfit from the govt) as millionaires - they or their family - like Pelosi she and her husband reportedly around 6-700 million...Pelosi 200 million - higherst govt salary as Speaker of the House was latest around 255K but as a regular congress person 80K less than that.  Seems to be criminal in my mind anyway.