More gifts on the cards

The Cabinet on Tuesday approved a proposal by the ministry for a tax deduction of Bt15,000 for tourism expenditure incurred throughout December, but has not yet considered a similar proposal for a tax rebate for the purchase of goods during the month.
Somchai said additional measures would be launched gradually, with the Fiscal Policy Office currently finalising the details of New Year gift packages for utilities and travel.
As to a tax exemption for brand-name and luxury products, the ministry is discussing the matter with business operators, the idea being that businesses participating in a specially arranged fair would be exempted from excise duty, value-added tax and other duties on the goods they display, thus enabling them to sell at lower prices than normal, he explained. 
The fair would run for 15 days, but the ministry does not expect the tax exemption to put too big a dent in tax-revenue collection, Somchai said, adding that details of the event would be finalised soon.
Moreover, the government is preparing a package aimed at encouraging private firms to speed up their investment, the official said.
The package will focus on investment disbursement in a bid to boost economic growth to 4-5 per cent, which is more appropriate to Thailand’s capability than the current estimate of 3-3.2 per cent, he said.
The investment-disbursement package will need to be proposed for the Cabinet’s consideration soon, he added.
Somchai also said the government had decided to postpone until Saturday handouts to the poor who were registered with the government, as the Revenue Department had found that around 10,000 of the 8.3 million registered low-income earners did not in fact qualify for the measure.
Distribution of the handouts was originally planned to commence today.