Government offers personal income tax relief in last quarter to boost spending
The Cabinet on Monday gave the green light to a new stimulus package granting personal income tax deduction of up to Bt30,000 per person to help boost people's spending on goods and services, Prime Minister Prayut Chan-o-cha said.
The measure will run from October 23 until December 31 and apply for the 2020 tax year. Around 4 million people are expected to be eligible for this scheme.
The govenment has continued to launch stimulus packages to revive the economy suffering from the Covid-19 outbreak.
Deputy Prime Minister Supattanapong Punmeechaow said that the measures launched in the fourth quarter were estimated to spark a cash flow of Bt200 billion into the economic system.
