People take photos in front of a Christmas tree at EmQuartier shopping mall in Bangkok. (Photo: Varuth Hirunyatheb)
The cabinet on Tuesday approved fresh stimulus packages dubbed New Year’s presents to stimulate spending during the festive season.
The packages include a tax deduction for individual taxpayers of up to 30,000 baht when purchasing goods or services, an extension of the existing co-payment subsidy scheme and a cut in property transfer and mortgage fees.
According to government spokesman Thanakorn Wangboonkongchana, the tax deduction incentive for individual taxpayers will be offered for purchases between Jan 1 and Feb 15, applicable for the 2022 tax year.
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