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Govt to lower corporate income tax

BANGKOK, 21 September 2011(NNT) – The government has agreed to lower corporate income tax in the near future in a move to speed up the countrywide wage rise by early next year.

According to the Commerce Ministry, the current 30 percent income corporate tax will be cut to 23 in the first phase, and will be further reduced to 20 percent in 2013.

Deputy PM and Commerce Minister Kittirat Na Ranong said the move was intended to enable private companies earn more incomes so that they could comply with the wage increase policy as soon as possible, possibly starting from January 1, 2012 onwards. At the same time, the government will ask the Bank of Thailand to delay its plan to increase interest rates so that the policy can be carried out smoothly.

The Deputy PM said Thailand collected more corporate taxes than most ASEAN countries. If other ASEAN countries are still able to live with lower taxes, Thailand should be able to survive the same way, too.

Mr. Kittirat also revealed that further tax cuts in three years were possible, but the private sector would have to cooperate with the government in income distribution so that the government could widen the tax base.

-- NNT 2011-09-21

[hyperdimension]

the move was intended to enable private companies earn more incomes so that they could comply with the wage increase policy as soon as possible

How much will the Shinawatra empire save from the cuts in corporate tax?

How many employees working for the Shinawatra empire earn less than 300 THB per day?

I think the amount that they save from the tax cuts will far exceed the extra cost of their workers, and that may be their real motivation for these changes.

Edited September 21, 2011 by hyperdimension

[MAJIC]

the move was intended to enable private companies earn more incomes so that they could comply with the wage increase policy as soon as possible

How much will the Shinawatra empire save from the cuts in corporate tax?

How many employees working for the Shinawatra empire earn less than 300 THB per day?

I think the amount that they save from the tax cuts will far exceed the extra cost of their workers, and that may be their real motivation for these changes.

More like the one and only motivation!

Edited September 21, 2011 by MAJIC

[givenall]

the move was intended to enable private companies earn more incomes so that they could comply with the wage increase policy as soon as possible

How much will the Shinawatra empire save from the cuts in corporate tax?

How many employees working for the Shinawatra empire earn less than 300 THB per day?

I think the amount that they save from the tax cuts will far exceed the extra cost of their workers, and that may be their real motivation for these changes.

More like the one and only motivation!

What really mean the rich get richer and others will losemore. Small business really can't benefitfrom the tax cut but their payroll will go up a lot.

[rakman]

the move was intended to enable private companies earn more incomes so that they could comply with the wage increase policy as soon as possible

How much will the Shinawatra empire save from the cuts in corporate tax?

How many employees working for the Shinawatra empire earn less than 300 THB per day?

I think the amount that they save from the tax cuts will far exceed the extra cost of their workers, and that may be their real motivation for these changes.

More like the one and only motivation!

What really mean the rich get richer and others will losemore. Small business really can't benefitfrom the tax cut but their payroll will go up a lot.

It might stimulate investment in Thailand, resulting in more jobs.