Thailand: Finance Minister eyes tax adjustments

• Finance Minister Uttama Savanayana on 13 Jul 19 pledged to consider adjusting income tax and corporate tax to bring the two rates closer.
• The maximum bracket for income tax is 35% while that of the corporate tax is 20%, he said.
• The impact of any adjustments to these taxes, including those on state tax revenues, will be carefully examined before any changes are adopted, Mr Uttama said.
• He said any new economic stimulus package will have to be designed to serve specific target groups. The government would also have to ensure it is provided in sufficient amounts.
• The Palang Pracharath Party, which he leads, pledged during its election campaign to raise to the minimum daily wage to THB400, up from THB308 at present.
• He reiterated that parties in the coalition government will discuss ways to begin progressive adjustment of the wage to that target.
• Mr Uttama, meanwhile, gave assurances that small- and medium-sized businesses will have better access to sources of funding for business development.

External Link : https://www.bangkokpost.com/business/1712024/uttama-eyes-tax-adjustments