BANGKOK, Thailand – The Cabinet, during its meeting on December 24, approved an “Easy E-Receipt 2.0” program, proposed by the Ministry of Finance, to allow income earners to receive a tax deduction of up to 50,000 baht for purchases of goods and services.
The program aims to promote domestic spending and local production in order to expand national and local economic growth on a continual basis, as well as boosting wider use of the electronic tax system.
It will be in effect from 16 January to 28 February 2025, according to Deputy Government Spokesperson Sasikarn Watthanachan.
Under this program, taxpayers can deduct up to 30,000 baht from buying general goods and services, including OTOP products, as well as goods and services purchased from community enterprises and social enterprises.
If the spending exceeds 30,000 baht, the deduction for purchases of products and services from the OTOP program and community enterprises and social enterprises will be up to 20,000 baht.
The Easy E-Receipt 2.0 program will not include purchases of (1) alcoholic drinks, (2) tobacco, (3) vehicle fuel and gas, (4) cars, motorcycles, and boats, (5) public utilities, tap water, electricity, telephone, and internet services, (6) long-term service fees, (7) non-life insurance, (8) tourism services, (9) hotel services, (10) homestay services, and (11) accommodations that are not hotels.
Ms. Sasikarn said that the Easy E-Receipt 2.0 program is expected to lead to the circulation of about 70 billion baht within the economy and help boost the economic growth in 2025 to between 2.3 and 3.3 percent.
Moreover, she said, the program would also encourage more traders to enter the VAT system and this would help expand the tax base. About 1.4 million taxpayers are likely to join the program. The spending can be done only at stores that can issue electronic receipts. (PRD)
