Council of State to rule on legality of loan bill for digital wallet

Srettha said he has tasked Deputy Finance Minister Julapun Amornvivat to write to the Office of the Council of State to clarify the legality of drafting the 500-billion-baht loan act to fund the digital wallet scheme, which aims to provide every Thai aged 16 and above with 10,000 baht through a digital wallet to boost the economy.

The scheme, however, excludes people with a monthly income of 70,000 baht or with savings in their bank accounts exceeding 500,000 baht.

Julapun said that the bill has yet to be drafted, adding that when this is done, the ministry will take into account the latest statistics on the Thai economy submitted by the National Economic and Social Development Council.

Julapun believes that once the Council of State gives the green light, it will not take long to pass the bill as there are not many financial laws related to the borrowing bill.

The Cabinet meeting on Monday also approved the Easy E-Receipt programme, formerly known as E-Refund, which offers tax rebates of up to 50,000 baht to Thais not eligible for the digital handout.

The Easy E-Receipt programme will run from January 1 to February 15, or 45 days, allowing a tax rebate for spending at eligible businesses that issue e-tax invoices and e-receipts, said a news source.

The ministry estimated that 1.4 million people will join the programme, spending some 70 billion baht and helping stimulate the GDP by about 0.18%. The programme, however, will cost the government 10.85 billion baht in lost revenue from tax.

The ministry also hoped that the programme will encourage businesses to sign up to the digital tax system, moving towards future e-government.

Under the Easy E-Receipt programme, participants will need to submit their tax returns with corresponding receipts for spending between January 1 and February 15, and the government will reimburse the taxed amount.

The programme will not include purchases of the following: Alcoholic beverages, tobacco, automobiles, motorcycles, boats, vehicle fuels, utility bills including telephone and internet, premium for loss insurance, and any long-term services that start before January 1 or end after February 15.

Purchases from businesses not registered under the VAT system but still eligible under the programme, provided that an e-tax invoice and e-receipt are issued, include booksellers, book services, newspapers and magazines (both physical and digital), and OTOP products registered with the Community Development Department.

Businesses can register for the e-tax invoice and e-receipt at https://etax.rd.go.th Those who have less than 30 million baht of income per year can also sign up to issue an e-tax invoice and e-receipt by e-mail.