The government has said it will roll out new campaigns as “New Year’s gifts” to stimulate public consumption and the economy in 2023.
Deputy Government Spokesperson Rachada Dhnadirek said the stimulus measures include the Shop Dee Mee Khuen tax rebate program, under which consumers can claim income tax rebates on up to 40,000 baht of purchases made between January 1 and February 15 of next year, with paper or electronic invoices as proof.
Purchases that will not qualify for the rebates include alcoholic beverages, tobacco, automobiles, motorcycles, boats, newspapers, magazines, tour guide fees, hotel accommodations, public utilities, tap water and electricity fees, internet services, and long-term service fees as well as non-life insurance ordered outside of January 1 through February 15, 2023.
In addition, Rachada said the Cabinet slashed the land and building tax by 15%, decreased property transfer fees from 2% to 1%, and reduced mortgage registration fees from 1% to 0.01% for the following year. The reduction in transfer and pledge registration fees will apply to amounts less than 3 million baht only for new and pre-owned residential properties.
The deputy government spokesperson added that a proposal has also been approved to reduce the excise tax on jet fuel for domestic flights from 4.72 baht per liter to 0.2 baht per liter from January 1 to June 30, 2023, to encourage tourism and aid the post-pandemic recovery of the airline industry.
In addition, license payments for dealers of alcoholic beverages, tobacco and playing cards will be eliminated for the entire year for all existing vendors.
Various banking institutions and other government bodies have also announced their intention to roll out new incentives for the general public, with additional information to be released in the coming days. (NNT)