Thailand's New PM Outlines Bold 10-Point Plan to Revamp Economy

[snoop1130]

 

Thailand’s new Prime Minister, Paetongtarn Shinawatra, presented a comprehensive policy statement on Thursday, emphasizing ten urgent initiatives aimed at invigorating the economy and enhancing the quality of life for Thai citizens.

 

In her 58-minute address to Parliament, Shinawatra detailed plans to introduce digital wallets, modernize agriculture, implement flat-rate electric train fares, and combat online crime and drug trafficking. Additionally, she pledged to draft a new constitution and overhaul the tax system.

 

 

 

 

Shinawatra's speech underscored a commitment to equal opportunities, stating, “everyone has enough to eat, enough to use, with dignity and honour.” The freshly elected government inherits significant challenges, including a lethargic economy, high debt levels, income inequality, and deep social and political divides.

 

She expressed a determination to transform these obstacles into opportunities, promising collaboration with all societal sectors to achieve their ambitious goals.

 

File photo for reference only

 

-- 2024-09-12
 

 

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[bkk6060]

4 minutes ago, snoop1130 said:

and overhaul the tax system.

There you go.

[redwood1]

51 minutes ago, bkk6060 said:

There you go.

 

What she means is she wants expats to pay zero taxes, and she wants expats to get 10,000 baht too....And she wants to do away with 90 day reporting and she wants expats to pay Thai prices every where in Thailand...And make citizenship fast and easy for farang...

 

This is what she ment....

Edited Thursday at 12:08 PM by redwood1

[rastlin]

From the article: "she pledged to draft a new constitution and overhaul the tax system."

 

Given that Thailand, like in most countries, spends more than they take in, their government, like in most countries, is hungry for revenue. The 10,000 Baht handout scheme only adds to their need for more revenue.

 

Thus, it seems pretty clear they are going to do *something* but it remains to be seen what that something will be. Already, they have made rule changes in the whole "assessable income" taxation. It seems likely, given all the various news stories, the government is at least considering expanding the tax base to include 180 day plus "tax residents."

 

But to me, the real issue is enforcement. After all, this country has motorcycle helmet laws which are only enforced sporadically as well as lots of other laws that are not enforced at all. Whatever new rule, regulation or law they come up with needs to be looked at in the context of enforcement. I'm not really that nervous because, almost certainly, whatever the official rule may be, there will be a workaround that requires a few thousand baht honorarium paid to someone in the system. That's just how things work in this country.

 

Back in the 80's they required a tax clearance certificate to exit the country if you were a tax resident. This was to prove you were paying your taxes to Thailand. But that certificate was easy enough to obtain, or so I am told, for a small fee. And even right now there are plenty of one year "retirement visa" holders who do not have the requisite 800,000 Baht in the bank or medical insurance. They just pay a fee to an agent.

 

So don't panic. The new tax laws, whatever they may be in the end, might effect the big corporations and their employees who actually follow the rules. But these companies are already paying taxes. The new tax laws, whatever they may be, probably are not going to seriously effect the retiree other than perhaps adding a few more thousand baht on their visa-agent tab cover the various new hoops to jump through and paperwork to submit. 

 

This is Thailand and that's just how these things go.

 

 

[CANSIAM]

Dad's bold 10 Point Plan............

[Ben Zioner]

1 hour ago, snoop1130 said:

overhaul the tax system.

Extort foreigners, audit them for 5 years so that they can get a tax clearance certificate.

[dinsdale]

Increase tax on the elites. That's sure to get the tanks rolling.

[kickstart]

49 minutes ago, rastlin said:

From the article: "she pledged to draft a new constitution and overhaul the tax system."

 

Given that Thailand, like in most countries, spends more than they take in, their government, like in most countries, is hungry for revenue. The 10,000 Baht handout scheme only adds to their need for more revenue.

 

Thus, it seems pretty clear they are going to do *something* but it remains to be seen what that something will be. Already, they have made rule changes in the whole "assessable income" taxation. It seems likely, given all the various news stories, the government is at least considering expanding the tax base to include 180 day plus "tax residents."

 

But to me, the real issue is enforcement. After all, this country has motorcycle helmet laws which are only enforced sporadically as well as lots of other laws that are not enforced at all. Whatever new rule, regulation or law they come up with needs to be looked at in the context of enforcement. I'm not really that nervous because, almost certainly, whatever the official rule may be, there will be a workaround that requires a few thousand baht honorarium paid to someone in the system. That's just how things work in this country.

 

Back in the 80's they required a tax clearance certificate to exit the country if you were a tax resident. This was to prove you were paying your taxes to Thailand. But that certificate was easy enough to obtain, or so I am told, for a small fee. And even right now there are plenty of one year "retirement visa" holders who do not have the requisite 800,000 Baht in the bank or medical insurance. They just pay a fee to an agent.

 

So don't panic. The new tax laws, whatever they may be in the end, might effect the big corporations and their employees who actually follow the rules. But these companies are already paying taxes. The new tax laws, whatever they may be, probably are not going to seriously effect the retiree other than perhaps adding a few more thousand baht on their visa-agent tab cover the various new hoops to jump through and paperwork to submit. 

 

This is Thailand and that's just how these things go.

 

 

How will they get us Alian's to pay tax? quite easy, you will have to submit your tax form with your yearly extension paperwork, no tax form, no extension, job done.

I am like a lot of people never have used an agent for anything, where I live in my rural area I would not know where to find one,

I would say my tax bill, if they is one would be, compatible with what an agent would charge, it seems in our area you pay tax at your local Amphur, so when the time comes, I will just ask them, as I think I am about 1of not many farangs in the area, and they will not probably know about farangs paying tax anyway, should be fun.

[Watawattana]

I didn’t notice the announcement of a properly funded and supported  Independent Commission Against Corruption.  Did I miss it?  Here’s a link to a similar organisation elsewhere that was set up due to rampant corruption in the past.  It hasn’t stopped 100% of it but it is properly supported to have zero tolerance. 

 

https://www.icac.org.hk/en/home/index.html

 

Even someone who offered a driving examiner a cake to try to influence a driving test got convicted.
 

Of course, it may not be required in Thailand. 

[lordgrinz]

Umm, we know who is going to draft a new constitution, it most certainly won't be her.......Daddy is working on it diligently though, I wonder if he will make himself Emperor of Thailand.

 

Quote

Additionally, she pledged to draft a new constitution 

 

[Srikcir]

11 hours ago, snoop1130 said:

freshly elected government

On what day in 2024 was the Thavisin government placed into caretaker status that would trigger as per the Constitution a national election to determine the majority party in the House to nominate a PM? There was none.

More than two-thirds of the public registered electorate was prevented from voting for a party that would nominate a non-PTP candidate. How?

Coincidentally, immediately after MFP was banned as a representative of its electorate base in the House, PTP coalition gained majority in the House by default that led to Paetongtarn's selection. No Senate vote required.

Paetongtarn like Thavisin was simply selected, albeit apparently somewhat sensitive that both PM's were not constitutionally "elected" by the Thai electorate as would be required in a democracy.  

From such chain of events, I can understand the desire to change the Constitution.

[hotchilli]

12 hours ago, snoop1130 said:

In her 58-minute address to Parliament, Shinawatra detailed plans to introduce digital wallets, modernize agriculture, implement flat-rate electric train fares, and combat online crime and drug trafficking. Additionally, she pledged to draft a new constitution and overhaul the tax system.

Useless people.

[TheFishman1]

Yeah, her daddy probably roast the whole speech for she just read it. TIT.

[soalbundy]

12 hours ago, rastlin said:

From the article: "she pledged to draft a new constitution and overhaul the tax system."

 

Given that Thailand, like in most countries, spends more than they take in, their government, like in most countries, is hungry for revenue. The 10,000 Baht handout scheme only adds to their need for more revenue.

 

Thus, it seems pretty clear they are going to do *something* but it remains to be seen what that something will be. Already, they have made rule changes in the whole "assessable income" taxation. It seems likely, given all the various news stories, the government is at least considering expanding the tax base to include 180 day plus "tax residents."

 

But to me, the real issue is enforcement. After all, this country has motorcycle helmet laws which are only enforced sporadically as well as lots of other laws that are not enforced at all. Whatever new rule, regulation or law they come up with needs to be looked at in the context of enforcement. I'm not really that nervous because, almost certainly, whatever the official rule may be, there will be a workaround that requires a few thousand baht honorarium paid to someone in the system. That's just how things work in this country.

 

Back in the 80's they required a tax clearance certificate to exit the country if you were a tax resident. This was to prove you were paying your taxes to Thailand. But that certificate was easy enough to obtain, or so I am told, for a small fee. And even right now there are plenty of one year "retirement visa" holders who do not have the requisite 800,000 Baht in the bank or medical insurance. They just pay a fee to an agent.

 

So don't panic. The new tax laws, whatever they may be in the end, might effect the big corporations and their employees who actually follow the rules. But these companies are already paying taxes. The new tax laws, whatever they may be, probably are not going to seriously effect the retiree other than perhaps adding a few more thousand baht on their visa-agent tab cover the various new hoops to jump through and paperwork to submit. 

 

This is Thailand and that's just how these things go.

 

 

Never under estimate a tax office, they have a bigger wooden club than you do and unlimited patience and resources.

[mfd101]

'New constitution' sounds gutsy. Dinosaurs won't be happy.

[Aussie999]

12 hours ago, rastlin said:

From the article: "she pledged to draft a new constitution and overhaul the tax system."

 

Given that Thailand, like in most countries, spends more than they take in, their government, like in most countries, is hungry for revenue. The 10,000 Baht handout scheme only adds to their need for more revenue.

 

Thus, it seems pretty clear they are going to do *something* but it remains to be seen what that something will be. Already, they have made rule changes in the whole "assessable income" taxation. It seems likely, given all the various news stories, the government is at least considering expanding the tax base to include 180 day plus "tax residents."

 

But to me, the real issue is enforcement. After all, this country has motorcycle helmet laws which are only enforced sporadically as well as lots of other laws that are not enforced at all. Whatever new rule, regulation or law they come up with needs to be looked at in the context of enforcement. I'm not really that nervous because, almost certainly, whatever the official rule may be, there will be a workaround that requires a few thousand baht honorarium paid to someone in the system. That's just how things work in this country.

 

Back in the 80's they required a tax clearance certificate to exit the country if you were a tax resident. This was to prove you were paying your taxes to Thailand. But that certificate was easy enough to obtain, or so I am told, for a small fee. And even right now there are plenty of one year "retirement visa" holders who do not have the requisite 800,000 Baht in the bank or medical insurance. They just pay a fee to an agent.

 

So don't panic. The new tax laws, whatever they may be in the end, might effect the big corporations and their employees who actually follow the rules. But these companies are already paying taxes. The new tax laws, whatever they may be, probably are not going to seriously effect the retiree other than perhaps adding a few more thousand baht on their visa-agent tab cover the various new hoops to jump through and paperwork to submit. 

 

This is Thailand and that's just how these things go.

 

 

"And even right now there are plenty of one year "retirement visa" holders who do not have the requisite 800,000 Baht in the bank or" ah yes, any opportunity to have a go at expats... just what has this got to do with tax... geez mate... grow up, it doesn't affect you, or Thailand.

[anchadian]

And please don't ask me difficult questions otherwise I'll have to refer those questions to daddy.

[Presnock]

13 hours ago, redwood1 said:

 

What she means is she wants expats to pay zero taxes, and she wants expats to get 10,000 baht too....And she wants to do away with 90 day reporting and she wants expats to pay Thai prices every where in Thailand...And make citizenship fast and easy for farang...

 

This is what she ment....

...an then you woke up from your hilarious dream knowing it could never encompass all those positives for expats in Thailand!

[Presnock]

2 hours ago, Srikcir said:

On what day in 2024 was the Thavisin government placed into caretaker status that would trigger as per the Constitution a national election to determine the majority party in the House to nominate a PM? There was none.

More than two-thirds of the public registered electorate was prevented from voting for a party that would nominate a non-PTP candidate. How?

Coincidentally, immediately after MFP was banned as a representative of its electorate base in the House, PTP coalition gained majority in the House by default that led to Paetongtarn's selection. No Senate vote required.

Paetongtarn like Thavisin was simply selected, albeit apparently somewhat sensitive that both PM's were not constitutionally "elected" by the Thai electorate as would be required in a democracy.  

From such chain of events, I can understand the desire to change the Constitution.

Well if the current govt/administration are wiped off the charts, all the larger party officials of the past generation cannot hold any elected position for years as part of the demolition of their party so who would folks even consider voting for?

[retarius]

There's little to disagree with except that she is doing nothing at all for the economy. 

16 hours ago, snoop1130 said:

In her 58-minute address to Parliament, Shinawatra detailed plans to introduce digital wallets, modernize agriculture, implement flat-rate electric train fares, and combat online crime and drug trafficking. Additionally, she pledged to draft a new constitution and overhaul the tax system.

 

 

The digital wallet is a stupid gimmick that will inject a small amount into the economy, and load the country down with debt that will impede real investment in the future.

 

Modernizing agriculture means making much larger and more efficient farms that can use machines instead of humans to do the work (like they do in other countries). This will create a whole slew of problems....big agricultural firms will then own all the farmland having picked the current owners off. Yes agriculture will be more efficient but the country will be left with tens of millions of landless, jobless workers. A full 50% of the workforce is supposedly involved in agriculture....50% who will all move to Bangkok creating slums while looking for work. 

 

Flat rate electric fares....how will the government fixing train fare stimulate the economy?

 

How will combating crime and drug trafficking (however desirable you might think it) stimulate the economy? Do criminals not spend the profits they make from crime....they do, they buy big houses and fancy cars.

 

New constitutions might make the country more democratic, but that hasn't happened in a long time. Constitutions are drafted so that those in power stay in power. The don't improve the economy either. 

 

New tax systems are needed to fund the massively growing debt that the country is starting to accumulate. Once countries get into debt they only ever get deeper into debt, they never manage to pay it off. Sadly foreigners will be included in the system of tax paying. It will affect me adversely and force me inconveniently to become a permanent tax exile.....but someone has to pay taxes, why should farangs get a free ride? Plus when designing tax systems, the designers come to realise the one solid, true, hard fact, and that is you can only get taxes out of people who have money those without money ie as mentioned above the 50% of folks in the country working for 2-300 baht a day in agriculture cannot pay taxes and eat....they will choose to eat, not to pay taxes. Whether farangs pay taxes will depend on whether they think they will get caught evading taxes (a crime) and what the penalties are. 

 

Altogether a total disappointment that the number one issue facing the country, ie the economy is completely ignored by the government. Thailand is set to go right down the toilet. Along with becoming a tax exile, I will be taking steps to protect my bank deposits,  hard times will bring out the corruption in the banks (and I make the assumption, that of every institution I know of is corrupt, and it is, then some banks will more than likely be corrupt as well).

 

 

[lordgrinz]

3 hours ago, anchadian said:

And please don't ask me difficult questions otherwise I'll have to refer those questions to daddy.

 

My daddy says I'm his special little guy

I am a princess, I am a prince

My daddy says I'm his special little soldier

[harryviking]

Digital money! The first step to get you "in line" and have full power over you! It is called dictatorship!

[Snackbar]

Here today gone tomorrow 

[MikeandDow]

2 hours ago, retarius said:

There's little to disagree with except that she is doing nothing at all for the economy. 

The digital wallet is a stupid gimmick that will inject a small amount into the economy, and load the country down with debt that will impede real investment in the future.

 

Modernizing agriculture means making much larger and more efficient farms that can use machines instead of humans to do the work (like they do in other countries). This will create a whole slew of problems....big agricultural firms will then own all the farmland having picked the current owners off. Yes agriculture will be more efficient but the country will be left with tens of millions of landless, jobless workers. A full 50% of the workforce is supposedly involved in agriculture....50% who will all move to Bangkok creating slums while looking for work. 

 

Flat rate electric fares....how will the government fixing train fare stimulate the economy?

 

How will combating crime and drug trafficking (however desirable you might think it) stimulate the economy? Do criminals not spend the profits they make from crime....they do, they buy big houses and fancy cars.

 

New constitutions might make the country more democratic, but that hasn't happened in a long time. Constitutions are drafted so that those in power stay in power. The don't improve the economy either. 

 

New tax systems are needed to fund the massively growing debt that the country is starting to accumulate. Once countries get into debt they only ever get deeper into debt, they never manage to pay it off. Sadly foreigners will be included in the system of tax paying. It will affect me adversely and force me inconveniently to become a permanent tax exile.....but someone has to pay taxes, why should farangs get a free ride? Plus when designing tax systems, the designers come to realise the one solid, true, hard fact, and that is you can only get taxes out of people who have money those without money ie as mentioned above the 50% of folks in the country working for 2-300 baht a day in agriculture cannot pay taxes and eat....they will choose to eat, not to pay taxes. Whether farangs pay taxes will depend on whether they think they will get caught evading taxes (a crime) and what the penalties are. 

 

Altogether a total disappointment that the number one issue facing the country, ie the economy is completely ignored by the government. Thailand is set to go right down the toilet. Along with becoming a tax exile, I will be taking steps to protect my bank deposits,  hard times will bring out the corruption in the banks (and I make the assumption, that of every institution I know of is corrupt, and it is, then some banks will more than likely be corrupt as well).

 

 

Grim outlook but true!!!

[newbee2022]

19 hours ago, rastlin said:

From the article: "she pledged to draft a new constitution and overhaul the tax system."

 

Given that Thailand, like in most countries, spends more than they take in, their government, like in most countries, is hungry for revenue. The 10,000 Baht handout scheme only adds to their need for more revenue.

 

Thus, it seems pretty clear they are going to do *something* but it remains to be seen what that something will be. Already, they have made rule changes in the whole "assessable income" taxation. It seems likely, given all the various news stories, the government is at least considering expanding the tax base to include 180 day plus "tax residents."

 

But to me, the real issue is enforcement. After all, this country has motorcycle helmet laws which are only enforced sporadically as well as lots of other laws that are not enforced at all. Whatever new rule, regulation or law they come up with needs to be looked at in the context of enforcement. I'm not really that nervous because, almost certainly, whatever the official rule may be, there will be a workaround that requires a few thousand baht honorarium paid to someone in the system. That's just how things work in this country.

 

Back in the 80's they required a tax clearance certificate to exit the country if you were a tax resident. This was to prove you were paying your taxes to Thailand. But that certificate was easy enough to obtain, or so I am told, for a small fee. And even right now there are plenty of one year "retirement visa" holders who do not have the requisite 800,000 Baht in the bank or medical insurance. They just pay a fee to an agent.

 

So don't panic. The new tax laws, whatever they may be in the end, might effect the big corporations and their employees who actually follow the rules. But these companies are already paying taxes. The new tax laws, whatever they may be, probably are not going to seriously effect the retiree other than perhaps adding a few more thousand baht on their visa-agent tab cover the various new hoops to jump through and paperwork to submit. 

 

This is Thailand and that's just how these things go.

 

 

I don't see it so easy. If the tax clearance will be connected to visas, then you're in <deleted>, aren't you?

[MikeandDow]

24 minutes ago, newbee2022 said:

I don't see it so easy. If the tax clearance will be connected to visas, then you're in <deleted>, aren't you?

Yes you name is right Newbee  everything in this country can be obtained by the baht its just another piece of paper to be obtained by the agent

[Purdey]

The digital wallet is borrowing from Peter to pay Paul. Government money comes from the people, so what do they expect to happen?

[newbee2022]

1 hour ago, MikeandDow said:

Yes you name is right Newbee  everything in this country can be obtained by the baht its just another piece of paper to be obtained by the agent

If you got this paper, please sent me PM😂

[DonniePeverley]

They can say what they want ...all they will do is open the borders for more cheap tourism.

 

An addiction to cheap mass tourism and not diversifying the economy is horrific. 

[newbee2022]

7 hours ago, retarius said:

There's little to disagree with except that she is doing nothing at all for the economy. 

The digital wallet is a stupid gimmick that will inject a small amount into the economy, and load the country down with debt that will impede real investment in the future.

 

Modernizing agriculture means making much larger and more efficient farms that can use machines instead of humans to do the work (like they do in other countries). This will create a whole slew of problems....big agricultural firms will then own all the farmland having picked the current owners off. Yes agriculture will be more efficient but the country will be left with tens of millions of landless, jobless workers. A full 50% of the workforce is supposedly involved in agriculture....50% who will all move to Bangkok creating slums while looking for work. 

 

Flat rate electric fares....how will the government fixing train fare stimulate the economy?

 

How will combating crime and drug trafficking (however desirable you might think it) stimulate the economy? Do criminals not spend the profits they make from crime....they do, they buy big houses and fancy cars.

 

New constitutions might make the country more democratic, but that hasn't happened in a long time. Constitutions are drafted so that those in power stay in power. The don't improve the economy either. 

 

New tax systems are needed to fund the massively growing debt that the country is starting to accumulate. Once countries get into debt they only ever get deeper into debt, they never manage to pay it off. Sadly foreigners will be included in the system of tax paying. It will affect me adversely and force me inconveniently to become a permanent tax exile.....but someone has to pay taxes, why should farangs get a free ride? Plus when designing tax systems, the designers come to realise the one solid, true, hard fact, and that is you can only get taxes out of people who have money those without money ie as mentioned above the 50% of folks in the country working for 2-300 baht a day in agriculture cannot pay taxes and eat....they will choose to eat, not to pay taxes. Whether farangs pay taxes will depend on whether they think they will get caught evading taxes (a crime) and what the penalties are. 

 

Altogether a total disappointment that the number one issue facing the country, ie the economy is completely ignored by the government. Thailand is set to go right down the toilet. Along with becoming a tax exile, I will be taking steps to protect my bank deposits,  hard times will bring out the corruption in the banks (and I make the assumption, that of every institution I know of is corrupt, and it is, then some banks will more than likely be corrupt as well).

 

 

Long story. 

The biggest missing project is a pension fund.

In former times there was a Thai family with at least 3 kids who were supposed to support their parents in old age. Sharing the burden.

However, that's past and the present show families with only one child who can't afford to send money later for 2 old parents.

The current system with 1000 Baht is a joke. So to implement taxed income could be a good idea if the money would be used solely for a pension fund.

However.....😳