Thai Finance Minister Uttama Savanayana has disclosed urgent policies which are to be implemented during the first three months of the new government in Thailand with a focus on economic issues, including taxes which need to be restructured promptly.
Thai Finance Minister Uttama Savanayana speaks at the event (Photo: thainews.prd.go.th)
Bangkok (NNT/VNA) – Thai Finance MinisterUttama Savanayana has disclosed urgent policies which are to be implementedduring the first three months of the new government in Thailand with a focus oneconomic issues, including taxes which need to be restructured promptly.
In a seminar on Thailand under the new government at theBangkok Post Forum 2019 at the Bangkok Convention Center in Centara Grand andCentral World, the finance minister said the government’s economic policies arecategorized as urgent policies with regards to the trade war, specificallyduring the first three months of the government.
Medium and long-term measures have beenprepared in the face of the adverse effects of the trade war. Thailand’strade competitiveness will be upgraded while the country’s fundamental economyand agricultural sector will need the use of digital technology in a neweconomic era, for which a huge sum of investment capital will be provided. Forthat matter, Public-Private Partnerships will play a significant role.
The government will expand the Thailand FutureFund to provide continual financial support to the fundamental economy. Thegovernment will spend funds to meet demands for public welfare benefits withregards to the advent of an ageing society.
Besides, the finance minister said taxes will be restructuredand tax collection measures will be enhanced with the use of technology. Forinstance, income taxes for online and e-commerce businesses will be made moreassessible, with the raising of state revenue in accordance with nationaldevelopment plans, while monetary and financial disciplines will be maintained.-NNT/VNA
The private sector of Thailand has called on the country’s Government to introduce economic stimulus packages to support economic growth in the remainder of 2019 amid growth slowdown, local media reported.
Promoted investment by the new government is hoped to speed up Thailand’s economy and help its GDP grow at a faster pace in the second half of 2019, said Deputy Prime Minister Somkid Jatusripitak.
The Bank of Thailand is preparing measures to control short-term capital inflows, while continuing to relax restrictions on outflows to cope with the strong baht, according to minutes of a policy meeting last month.
The Republic of Korea (RoK), China and Japan agreed on May 3 to reinforce the regional financial safety net, along with members of the Association of Southeast Asian Nations (ASEAN), by launching a new financing facility programme meant to extend greater support in case of a financial crisis.
A technical issue combined with an extreme heatwave was blamed for a series of explosions at a military base that killed 20 soldiers and injured several others in Cambodia on April 27, the country’s Ministry of Defence said in a May 2 statement as reported by the Xinhua news agency.
The Customs Department of Thailand is scheduled to commence the collection of value-added tax (VAT) on imported goods sent via postal services, regardless of the goods value, starting in May.
A lecturer from Chulalongkorn University’s Faculty of Medicine has warned Thais to be more vigilant against COVID-19, saying infection rates appeare to be worsening with higher hospital admissions, deaths and severe cases.
Malaysia should harness the collective expertise and resources to drive sustainable growth and development of the halal industry, according to Minister of Investment, Trade and Industry Zafrul Abdul Aziz.
Laos has officially restored the 10% value-added tax (VAT) rate starting May 1, in a bid to support the country’s budget revenue and socio-economic development.
The ASEAN Future Forum 2024 (AFF 2024) entered its second plenary session in Hanoi on the afternoon of April 23, discussing ways to ensure comprehensive security for the people-centred ASEAN Community.
The first session of the ASEAN Future Forum 2024 (AFF 2024) in Hanoi on April 23 focused on fast and sustainable growth for the Association of Southeast Asian Nations (ASEAN).
The Canada-ASEAN Business Council (CABC) and the ASEAN Alliance on Carbon Markets (AACM) have signed a Memorandum of Understanding (MoU) to strengthen collaboration and accelerate the implementation of carbon crediting programmes across Southeast Asia.
ASEAN Secretary-General Kao Kim Hourn reaffirmed ASEAN leaders' commitment to empowering the youth to unleash their full potential when he had a dialogue with ASEAN youth in Hanoi on April 22 on the sidelines of the ASEAN Future Forum (AF 2024).
The Thai Government is being urged to increase the proportion of renewable power generation to more than the target of 50% set in the power development plan (PDP).
The Centre for Volcanology and Geological Hazard Mitigation (PVMBG) of Indonesia on April 21 lifted its tsunami advisory issued previously following the eruption of Mount Ruang in Sitaro district of North Sulawesi province.
Thailand expects to export about 1 million tonnes of durian, valued at an estimated 130 billion THB (3.53 billion USD) this year, with most of the shipments to China, according to Minister of Agriculture Thammanat Prompao.
The 72nd meeting of the ASEAN Working Group on Intellectual Property Cooperation (AWGIPC) and related meetings are being held by the Ministry of Science and Technology’s Intellectual Property Office (IPO) of Vietnam in the central city of Da Nang on April 22-26.
Enhancing regional food security and tackling the pressing challenges of climate change will be key agendas defining Malaysia’s ASEAN Chairmanship in 2025, Speaker of the Dewan Rakyat (lower house) Johari Abdul told the press on April 19.
Thai Finance Minister Uttama Savanayana speaks at the event (Photo: thainews.prd.go.th) 
