BANGKOK, Thailand – The Ministry of Finance has announced extensive relief measures, including tax deferrals and special loans, for Thais impacted by recent unrest along the Thai-Cambodian border.
Deputy Prime Minister and Finance Minister Pichai Chunhavajira detailed the support, which is divided into local-level actions and initiatives from state-owned financial institutions.
At the local level, discretionary funds for provincial governors will be expanded to 100 million Thai baht each to improve response flexibility. The government will also fast-track procurement for security-related needs and prepare special credit lines through state banks for farmers and affected individuals.
Tax relief measures include extending the filing and payment deadline for personal and corporate income tax, value-added tax, and other duties to the end of September. Additionally, citizens can claim tax deductions for home repairs up to 100,000 Thai baht and vehicle repairs up to 30,000 Thai baht.
State-owned financial institutions are also providing significant support. The Government Savings Bank is offering a moratorium on principal payments until this December. The Bank for Agriculture and Agricultural Co-operatives is providing emergency and rehabilitation loans. The Government Housing Bank is reducing interest rates, with special terms for those who lost their homes.
Further assistance comes from the SME Development Bank of Thailand, which is allowing payment suspensions. The Export-Import Bank of Thailand is extending debt repayments and reducing interest. The Islamic Bank of Thailand is offering payment moratoriums and recovery loans. Lastly, the Thai Credit Guarantee Corporation will provide loan guarantees for small businesses with a three-year fee waiver, accepting applications until the year end. (NNT)
