Finance minister mulls bridging gap between personal and corporate tax
The incoming Finance Minister Uttama Savanayana is considering the restructuring of personal income tax and bringing it in line with corporate income tax in order to bridge the gap between the two taxes.
He said this at the sidelines of the “MAI Forum 2019” co-hosted by the Market for Alternative Investment (MAI) and MAI Listed Company Association in Bangkok on Saturday.
Currently, the maximum level of personal income tax is 35 per cent, while corporate income tax is 20 per cent. The minister said he will consider the option carefully, including a possible impact this plan may have on state revenue.
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He added that if the government launches any stimulus packages during this time, they will have to be customised to serve specific targeted groups.
He has also called on MAI to seek ways to have small businesses listed in the MAI index.
