Government to Disburse Numerous New Year’s Gifts

The government has promised “New Year’s presents” in the form of new initiatives to boost consumer spending and economic activity in the year 2023.

According to Deputy Government Spokesperson Rachada Dhnadirek, one of the stimulus measures is the Shop Dee Mee Khuen tax rebate program, which allows customers to recoup sales tax on purchases up to 40,000 baht made between January 1 and February 15 of next year, provided that they have the relevant paper or digital receipts.

Alcoholic beverages, tobacco products, automobiles, motorcycles, boats, newspapers, magazines, tour guide fees, hotel accommodations, public utilities, tap water and electricity fees, internet services, and long-term service fees, and non-life insurance ordered outside of January 1, 2023, and February 15, 2023, are all excluded from rebate eligibility.

For the coming year, Rachada stated, the Cabinet cut the land and construction tax by 15%, lowered property transfer costs from 2% to 1%, and cut mortgage registration fees from 1% to 0.01%. Only residential properties (both new and pre-owned) with a purchase price of less than three million baht will have their transfer and pledge registration costs lowered.

To further promote tourism and assist the airline industry in its post-pandemic recovery, the deputy government spokesperson also mentioned that a proposal to lower the excise tax on jet fuel for domestic flights from 4.72 baht per liter to 0.2 baht per liter has been approved, effective as of January 1, 2019, and running through June 30, 2023.

In addition, all current vendors will have their annual licensing fees for selling alcoholic drinks, tobacco products, and gaming products waived for the duration of the year.

New public incentives have been announced by a number of financial institutions and government agencies; further details will be made available in the coming days.

Author: noel