Deputy Government Spokesperson Karom Polpornklang recently clarified the procedures for cash withdrawals by merchants participating in the Digital Wallet scheme. His remarks were in response to incorrect online claims that suggested limitations on merchant transactions, specifically that cash withdrawals were not permitted and transactions were confined to large retail stores.
At a press conference on Aug 10, Karom explained that the project is designed to support small merchants. It allows them to conduct transactions within their local districts through an electronic payment system, ensuring these are direct and face-to-face. The system explicitly excludes transactions with large department stores and wholesale entities.
Karom also specified that while immediate cash withdrawals are not available after transactions with consumers, merchants can withdraw cash following sales among themselves. These subsequent transactions must also meet legal sales criteria and involve merchants who adhere to tax laws, including VAT, corporate income tax, or personal income tax regulations.
The Ministry of Commerce has thoroughly investigated and debunked the false claims, providing clear guidelines on the operational framework of the project. For eligibility to withdraw cash, merchants must demonstrate consistent tax compliance, having filed returns for at least the previous two fiscal years. Those who have been in business for less than two years must show uninterrupted tax records since their inception.
To avoid misinformation affecting the project’s credibility, the deputy government spokesperson urged sellers and buyers to access information directly from the Ministry of Commerce’s official website at www.moc.go.th or contact its dedicated call center at 1203. (NNT)
