Bloomberg Tax
March 10, 2020, 9:13 AM

Thai Cabinet Approves Phase One of Covid-19 Stimulus Package

Suttinee Yuvejwattana
Suttinee Yuvejwattana
Bloomberg News

The package includes 180b baht ($5.7b) of soft loans from Government Savings Bank and the Social Security Fund, Finance Minister Uttama Savanayana says in a briefing in Bangkok.

  • That’s for for small and medium-sized businesses impacted by the fallout of the novel coronavirus outbreak
  • Other steps include:
    • The government is setting aside a 20b baht budget to help those impacted by the virus
    • Tax benefits such as:
    • A cut in the withholding tax to 1.5% from 3% during April to September
    • Doubling the tax benefit for investment in long-term mutual funds -- so-called super savings funds -- to 400,000 baht ...