Cabinet approves tax waiver for flood prevention and mitigation

BANGKOK, June 19 (TNA) - The Thai Cabinet has approved a tax exemption for spending on prevention and mitigation plans against natural disasters, namely floods, by individuals and business firms under both personal income and corporate taxes. Government Spokesman Thirat Rattanasewi told journalists that the Thai Cabinet made the decision at its weekly meeting on Tuesday, as proposed by the Ministry of Finance. According to the government spokesman, the Thai government is, meanwhile, distributing “Thailand 2020” brochures to people nationwide, through MPs, the Government Savings Bank (GSB) and state-run Krung Thai Bank (KTB), to publicize and elaborate the administration's new two-trillion-baht infrastructure development plans for the sake of public proper understanding. (TNA)