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Thai Finance Ministry Considers Increasing Income-Tax Waiver.
Dec. 3--Taxpayers could receive an early holiday gift today, when the cabinet reviews a Finance Ministry proposal to extend the waiver on personal income tax to the first 80,000 baht in income from the current 50,000 baht.
The waiver was approved in 1999 to increase disposable income for low-wage earners. Income above the first 50,000 baht after deductions is taxed at 5 percent.
Finance Minister Somkid Jatusripitak said the extension, if approved, would take effect in 2003.
Extending the waiver to 80,000 baht would cost the state around 16 billion baht a year, compared with around 10 billion based on the 50,000-baht waiver.
The ...
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