Gov’t mulls over tax cuts for SMEs & used car exporters

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The Ministry of Finance is preparing to propose new assistance measures for small and medium enterprises (SMEs) at the upcoming cabinet meeting.

Permanent Secretary for Finance Rungson Sriworasat disclosed the Ministry was mulling over the idea of lowering tax from 15 percent to 10 percent for SMEs gaining between 300,000 and one million baht in profit.

Rungson said the plan, if approved, could be a temporary measure since it would diminish the government’s tax revenue by 1.5 billion baht. However, he ruled out the possibility of tax amnesty, explaining that the plan was once implemented but was unable to help operators comply with the proper tax system.

Permanent Secretary for Finance Rungson Sriworasat.Permanent Secretary for Finance Rungson Sriworasat.

The Permanent Secretary added that the Ministry of Finance was also deliberating on the plan to return export tax to exporters of second-hand cars to expedite disposal of used cars. The study of the measure is expected to be concluded sometime this month.