Thai Government set to introduce major new measures to help tourism sector and economy in March

BANGKOK(NNT) – The government is set to introduce major measures to help the tourism sector and the economy affected by the COVID-19 virus situation.

Deputy Prime Minister Somkid Jatusripitak announced today that the government will be issuing additional tourism and economic promotional measures to help those affected by the spread of the COVID-19 virus.

The measures will include tax breaks; domestic tourism promotions; financial assistance to affected hotels and tour agencies as well as related service businesses; and an expenses reduction campaign for affected employees.

The Minister of Finance Uttama Savanayana said today he will be instructing the Bank of Thailand and the Thai Bankers’ Association to take care of the financial status of affected companies by offering special services such as loan payback extensions, soft loans or low-interest loan offers, as well as developing tax measures to encourage employers to continue employing their staff without laying anyone off.

He said the expense cutting measures will be made through phase 4 of the Chim Shop Chai campaign to encourage general spending for consumption, while a domestic tourism promotion campaign will come out as a campaign allowing those 60 years old or older to refer their travel expense receipts to their children, who can claim the expenses as tax discounts.

The DPM has asked all sectors to reach conclusions on these measures in March, to be further proposed to the Cabinet for approval in time for the measures to take effect in April for Songkran, the busiest domestic tourism time of the year. He said these short-term measures are all compliant with fiscal discipline.

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