ID :
402015
Wed, 03/30/2016 - 09:17
Auther :

Bt15b expected to be changed hands during Songkran Festival in Thailand

BANGKOK, March 30 (TNA) - Part of the government's new economic stimulus measures to be implemented during the upcoming Songkran or the traditional Thai New Year Festival is expected to generate cash circulations up to 15 billion baht nationwide. Thai Tourism and Sports Minister Kobkarn Wattanavrangkul made the assessment on March 29, after the the Cabinet, at its weekly meeting earlier in the day, approved tax deduction incentives to encourage people to tour and eat out and companies to hold meetings locally to stimulate the national economy during this year's Songkran Festival. Kobkarn said people can, thus, present records of their spending at restaurants nationwide from April 9 to 17 to each deduct up to 15,000 baht from their taxable income, while companies holding training sessions and meetings during the period can also seek the deduction worth 200 per cent of their expenses for the activities. Besides, the minister confirmed, such tax deduction for domestic vacationers has been extended for another year, until December 31, 2016. The minister foresaw that the measures should boost the number of international tourists during the upcoming Songkran Festival by 20 per cent to 2.6 million, consisting of 2.1 million Thais and 490,000 foreigners. According to the minister, the Thai government is, however, campaigning for people to save water during Songkran, also known as the water-splashing festival, due to the ongoing drought in the country. (TNA)

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