Thai Cabinet approves part of new economic stimulus

BANGKOK, March 29 (TNA) - The Thai Cabinet has given the green light to part of the government's new economic stimulus package to boost the national economic growth. Finance Minister Apisak Tantivorawong told journalists on Tuesday that the Thai Cabinet approved part of the new economic stimulus, as proposed by his ministry, at its weekly meeting earlier in the day. Apisak said the government's new economic stimulus measures include those generating public spending during the upcoming Songkran or the traditional Thai New Year Festival in mid-April and extending deductible income tax on domestic trips. Apisak elaborated that people who dine, stay at hotels and pay tourist guide fees, excluding alcoholic drinks, during April 9–17 could deduct taxable income at the maximum of 15,000 baht each. According to the finance minister, the measures are aimed at stimulating the national economy and promoting families’ activities during Songkran, also known as the water-splashing festival. The finance minister stated that the government's new economic stimulus, the third round of its kind, is unlikely to seriously affect the government's revenues. In an attempt to boost domestic tourism, the finance minister noted, the Thai Cabinet also extended the deductible tax to December 31, 2016, from December 30, 2015. The minister revealed that another part of the new economic stimulus on financial support to government officials has not yet been proposed to the Cabinet for further consideration. (TNA)