Businesses urged to install EDC machines in exchange for incentives

 

BANGKOK, 18 April 2017 (NNT) – The Department of Business Development (DBD) has reminded entrepreneurs to install an electronic data capture (EDC) machine in order to be entitled to tax privileges. 

DBD Director-General Banjongjitt Angsusingh stated that, under the national e-payment policy, the government is striving to persuade all sectors to deviate from cash-based payments to electronic transactions, which carry lower fees. The change is expected to uplift the financial infrastructure of the country and boost its business potential. 

In this regard, the Director-General said her department has issued an announcement encouraging all businesses that receive payments from customers to install at least one EDC device in each establishment as another payment option for the public. She noted that the cost of the device and the installation fee will be waived for them while they will be eligible for tax privileges as specified by the Revenue Department. 

Business operators can obtain EDC machines from any providers certified by the Finance Ministry, including Krung Thai Bank, Bank of Ayudhya, TMB, Siam Commercial Bank, Thanachart Bank, Bangkok Bank and Kasikorn Bank.

 

-- nnt 2017-04-18

fall for this at your peril.

bottom line this is an IMF directive to make THE WORLD cashless within 15 years...anyone going along with this is basically allowing your children to be slaves.

Every single transaction will be recorded and then taxed (many of the NEW tax that have not even been announced yet, but they are already in place to be brought into law).

The ramifications of this are horrendous. and if you are one who thinks this is a fantastic idea just think about this; ALREADY by direct and indirect taxation the average person is now paying over 70% of their salary in TAX ...basically a Government controlled SLAVE

 

I for one will never vote for or assist any of these Cashless systems .....Cash should be backed by Gold or Silver end of.

 from cash-based payments to electronic transactions, which carry lower fees.

 

WRONG, cash has zero commissions whilst e payment typically costs around 1.8%