For employees, personal income tax will be reduced to a maximum of 17% of income. Employers can deduct labor expenses at 1.5 times the contract amount, up from the previous one-time deduction.
The initial goal is to attract 500 high-potential Thais, stimulating investment in targeted industries under the Competitiveness Enhancement Act, the Investment Promotion Act, and the EEC law.
Additionally, the Cabinet approved a 275 million baht budget for the “Muay Thai Soft Power” project, proposed by the Ministry of Tourism and Sports.
The initiative aims to elevate Muay Thai from a national art form to a global one, enhancing the skills of fighters, trainers, and entrepreneurs.
Prime Minister Srettha Thavisin suggested establishing an organization to oversee marketing and international-standard competitions, akin to FIFA’s role in football.
