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Amnesty International "It's a Genocide in Gaza"
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Opposition Demands Clarity on Proposed Thai Tax Reforms
Nobody knows anything, even the MPs -
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THAILAND LIVE Thailand Live Friday 13 December 2024
Opposition Demands Clarity on Proposed Thai Tax Reforms Picture courtesy: Thai Rath Amidst rising concerns over potential tax changes in Thailand, the opposition People’s Party is pressing the government for clarity. With tax reform proposals currently in the study phase, speculation about a possible value-added tax (VAT) increase has sent ripples through the public and political spheres alike. Full story: https://aseannow.com/topic/1346056-opposition-demands-clarity-on-proposed-thai-tax-reforms/ -
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Opposition Demands Clarity on Proposed Thai Tax Reforms
Picture courtesy: Thai Rath Amidst rising concerns over potential tax changes in Thailand, the opposition People’s Party is pressing the government for clarity. With tax reform proposals currently in the study phase, speculation about a possible value-added tax (VAT) increase has sent ripples through the public and political spheres alike. During the latest House session, People’s Party MP Sirikanya Tansakun called on the government to explain remarks made by Finance Minister Pichai Chunhavajira regarding the restructuring of the national tax system. While the minister has suggested these are merely ideas under consideration, the implications have brought ongoing public unease. Ms Sirikanya expressed a cautious welcome towards tax reforms aiming at revenue enhancement but emphasised the necessity of transparent and substantiated government communications. Based on her interpretation of Mr Pichai's statements, the proposed reforms might set corporate tax at 15%, reduce personal income taxes to a flat 15%, and increase VAT from its longstanding rate of 7% to 15%. These potential changes could lead to a significant shortfall in corporate tax revenue, around 190 billion Thai Baht, Ms Sirikanya noted. Moreover, individuals earning less than 300,000 Thai Baht monthly could face heightened income tax rates, calling into question the efficacy and equity of such reforms. "I remain perplexed as to how this strategy will fulfil its promise of increasing government revenue with minimal public impact," Ms Sirikanya stated. "If unaware of this potential revenue dip, why consider elevating VAT to compensate?" Mr Pichai's suggestion of elevating VAT — a rate unchanged for 30 years — to as high as 15% was swiftly countered by Prime Minister Paetongtarn Shinawatra. Furthermore, the idea of a standard 15% personal income tax rate is positioned to attract international expertise, rather than replace the current progressive system. Ms Sirikanya further speculated that lowering corporate taxes might align with global norms set by the Organisation for Economic Co-operation and Development (OECD), which advocates a minimum 15% corporate tax for multinationals with sales exceeding 750 million euros. Deputy Finance Minister Julapun Amornvivat acknowledged the need for greater tax revenue to underpin universal welfare initiatives. With tax revenues contributing merely 14% to Thailand's GDP, against a global average of 18%, the ministry is actively studying new revenue streams, reported Bangkok Post. -- 2024-12-13- 1
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Which movies you never get tired about?
The life of Brian, Monty Python. Watch it over and over and tears are rolling from laughing. -
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What do you give a Buddhist for Christmas?
Same as a Buddhist give me for Loi Krathong -
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Which movies you never get tired about?
Reservoir dogs, Pulp Fictions I can watch the scene where a man is tied up on a chair and on the background a music is playing, "Stuck in the middle with you" 1000000 times.. -
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EV Charger Recommendations
I have asked on that forum as well. Decided on a 7kW/23A single phase charger. Just waiting for any responses on brand recommendations.. There are many brands on Shoppe and Lazada. Great forum and knowlegable people on Electric Vehicles in Thailand forum. -
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Indian tourist targeted in daring Pattaya necklace snatch
Maybe he thought that the chunk of rare metal around his neck would mask the undesirable personal traits that not only the Thai ladies of the night, are well aware of,🤮 but we as westerners in this new multi cultural society that is being forced upon us all, are also well aware of, 🤮 even from a distance...
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