Thailand approves tax breaks to spur consumption | ZAWYA MENA Edition

Thailand approves tax breaks to spur consumption | ZAWYA MENA Edition

Thailand approves tax breaks to spur consumption Government will offer a tax deduction of up to $966 on purchases of goods and services from October to December    A view of housing during the COVID-19 pandemic in Bangkok's city centre, Thailand October 7, 2020. BANGKOK - Thailand's cabinet on Monday approved tax incentives to boost domestic consumption in a bid to revive an economy struggling from the impact of the coronavirus pandemic, the prime minister said.The government will offer a tax deduction of up to 30,000 baht ($966) on purchases of goods and services from October to December, which is expected to inject 120 billion baht ($3.86 billion) into the economy, Prayuth Chan-ocha told a briefing. Southeast Asia's second-largest economy could contract by a record 7.8% this year, with the key