Shopping sprees by well-to-do to spur 70bn baht cash flow

By Thai Newsroom Reporters

AN ESTIMATED 70 BILLION BAHT worth of goods and services is anticipated to circulate in all parts of the country from early next month until the middle of February under the Pheu Thai-led government’s “easy e-receipt” campaign for the well-to-do.

Deputy Finance Minister Julapun Amornvivat confirmed today (Dec.20) the “easy e-receipt” campaign will considerably stimulate domestic consumption among those who may not be entitled to the 10,000-baht digital wallet campaign which is only provided for those who may currently earn no more than 70,000 baht monthly or have no more than 500,000 baht in bank deposit.

The “easy e-receipt” campaign is being provided from January 1 until February 15 for each eligible recipient to buy a maximum of 50,000 baht worth of goods and services in the boundaries of their home district, produce receipts of the bought merchandise and services and have their personal income tax refunded by the Revenue Department.

The domestic cash flow is expected to amount up to 70 billion baht and contribute 0.18% to next year’s GDP due to this populist campaign for the well-to-do, Julapun said.

Nevertheless, the “easy e-receipt” campaign is not applicable for the purchase of alcoholic beverages, cigarettes, automobiles, motorcycles, boats and fuels or the payment for water bills, power bills, telephone fees, internet fees and insurance fees, according to the deputy finance minister.

CAPTIONS:

Top: A representative image of shopping to claim tax refund by the well-to-do. Photo: Matichon

Front Page: A graphic image on paying tax by Mohamed Hassan from Pixabay

Also read: Tax refund backed shopping sprees by well-to-do to kick off soon

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