Thailand continues quest for tax breaks

Thailand's finance minister announces more measures to stimulate the economy following those approved in October.

Apisak Tantivorawong, finance minister for the government of Thailand, has announced more tax measures to stimulate the country’s economy, according to Tax-News.

Tantivorawong revealed tax breaks focused on specific sectors such as automotive, construction, computer and machinery. Additional incentives are being considered that will be introduced at a later date to bolster other expanding industries.

Tantivorawong did not go into details about the implementation of these plans.

The latest measures follow the government signing off on a permanent reduction of corporate tax to 20% last month. Corporate tax was reduced from 23% as a temporary measure in 2013 and remained at that level since then.

The government also decided in October 2015 to exclude government venture capital funds from corporate and dividend taxes for 10 years.

See more from this Government Report: Thailand

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