THURSDAY, March 28, 2024
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CABINET OKAYS VAT RETURN THROUGH WELFARE CARDS

The Cabinet yesterday gave a nod to return value added tax (VAT) to low-income earners through state welfare cards during its mobile meeting in Petchabun province yesterday. The measure will take effect from November 1 to April 30, 2019.
Sansern Kaewkamnerd, government spokesman, said that the approximately Bt5 billion in funds for the VAT return would come from the Pracha Rat fund for the grassroots economy and society. The Comptroller General’s Department will proceed with the measure based on the VAT included in products and services to be spent by low-income earners’ through their state welfare cards on a monthly basis. Of the 7 per cent VAT planned for return, one-seventh will be paid by low-income earners, while five-sevenths will be returned to them and another one-seventh will be sent to the National Savings Fund (NSF) if they are members. 
For those who are not NSF members, the Ministry of Finance will discuss with financial institutions how to channel the funds to low-income earners for the purpose of savings.
 

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