BANKOK, 30 April 2014 – The Ministry of Finance is proposing that the National Council for Peace and Order (NCPO) revives the tax exception policy, which had ended in 2012. The belief is that businesses still face problems from previous problems adjusting to debt structure.
Finance Ministry Permanent Secretary Rangsan Sriworasat talked about the tax exemption policy, saying that the adjustment of the debt structure helped people who once had debt and were able to pay it all back. This policy ended in 2012, however, and hasn’t been an extension to the policy.
The proposed policy will be sent to the NCPO for consideration. The Finance Ministry stressed that by approving the policy will benefit many businesses with financial problems so that they will be able to adjust their debt structure.
Mr. Rangsan believes that the policy should continue to be supported, and after consulting with the Ministry of Finance, a decree is now being written, and the policy will, if approved, be renewed year by year. In this preliminary stage, the Bank of Thailand supports the policy as well as the private sector.
The ministry truly believes that this policy will be able to revive the whole economy.