Will tax breaks help the Thai economy change gear?

The government has launched tax breaks to encourage consumer spending this year, in a bid to stimulate the economy. But will it work and who is going to benefit?

From January 1 to February 15, the governments is implementing “Easy E-Receipt”, a tax deduction measure.

Who is eligible?

Under the scheme, individuals will receive a tax deduction of up to 50,000 baht from their taxable income if they shop for goods and services from businesses in line with government criteria.

The actual tax deduction will materialize when they file their annual personal income tax returns next year.

To take advantage of it, consumers have to get an e-tax invoice or e-receipt from the sellers. The e-tax invoice will be issued by businesses registered in the value-added tax (VAT) system, which includes large corporations.

But some items are excluded from the tax deduction scheme. They include:…