Cabinet okays extension for filing income tax returns, loans for tourism businesses, jet fuel tax reduction
The cabinet on Tuesday (February 4) approved the Finance Ministry’s proposed measures to mitigate the impact of the novel coronavirus outbreak and global uncertainties on the tourism sector, said Finance Ministry spokesman Lavaron Sangsnit.
Among the measures approved are:
- Extension of the deadline for filing individual income tax returns to June this year from March.
- Companies will be allowed to enjoy tax deductions from expenses on local seminar activities taking place during the January 2020-December 31, 2020, period, with the deduction being two times the actual cost.
- Reduction of jet fuel excise tax for domestic flights from Bt4.726 per litre to Bt0.20 per litre until September 30, 2020.
The cabinet also approved plans by state-run banks to offer soft loans and extend debt repayment periods to tourism businesses affected by the big decrease in the number of tourists amid the virus outbreak.
