Thailand to Tighten Tax Rules on Overseas Income to Aid Economy

Thailand will tighten loopholes in its tax rules on overseas income, as the new government seeks to lower income inequality as well as raise revenue to pay for measures to stimulate the Southeast Asian economy.The finance ministry last week issued the stricter rule on overseas ...

Joining BRICs would lead to opportunities for Thailand

Joining the BRICs alliance would present economic opportunities for Thailand, as the alliance, comprising Brazil, Russia, India, China, and South Africa, is enjoying strong negotiating power in trade agreements, according to former finance minister Thirachai Phuvanatnaranubala.Trade with China was extensive back in the days when ...

The Nation Reporter

New government focused on boosting tourism to stimulate economy: Srettha

Prime Minister Srettha Thavisin flew to the island province of Phuket on Friday to highlight its significance as a major money-maker for Thailand’s tourism industry.It was his first provincial trip as the leader of Thailand’s new government in the making.“The Pheu Thai Party sees tourism ...

The Nation Reporter

Thailand-Pacific Alliance FTA benefits GDP and trade

The Free Trade Agreement (FTA) with the Pacific Alliance (PA) has raised Thailand’s gross domestic product (GDP) by 0.04% and boosted trade by 16.75%, benefiting various Thai exports.That 0.04% increase is worth about US$200 million, according to Auramon Supthaweethum, director-general of the Department of Trade ...

The Nation Reporter

China's economic woes threaten struggling Thai exports: Arkhom

China’s economic downturn is likely to impact already struggling Thai exports and the anticipated influx of foreign visitors this year, Finance Minister Arkhom Termpittayapaisith said on Tuesday.China’s economy is expanding more slowly than many agencies had predicted, Arkhom noted. He added that despite the Fiscal ...

The Nation Reporter

NESDC cuts 2023 Thai GDP to 2.5-3%

The National Economic and Social Development Council (NESDC) has revised downwards Thailand’s gross domestic product (GDP) for this year to between 2.5% and 3%, following a second-quarter expansion of just 1.8%.The decrease in growth is attributed to a 5.6% decline in exports in the last ...

The Nation Reporter

Commerce Ministry preparing to promote BCG products globally

Thai producers adopting the Bio-Circular-Green (BCG) economic model are eyeing the international market following the success of BCG-branded products at home, and the Commerce Ministry is assisting by identifying new products and promoting them.With consumer trends prioritising environmentally-friendly and sustainable products, Thai BCG products – ...

The Nation Reporter

Thai consumer confidence index falls in July for the first time in 14 months

The delay in government formation, the rising cost of living and conditions of recession in the global economy have resulted in Thailand’s Consumer Confidence Index (CCI) in July dropping for the first time in 14 months.The CCI in July fell to 55.6, from 56.7 in ...

The Nation Reporter

BOT reduces GDP growth estimate slightly in view of export slump

The Bank of Thailand (BOT) is reducing its estimation of GDP growth to 3.5% from 3.6% due to the country’s stagnant export sector and global economic slowdown.BOT governor Sethaput Suthiwartnarueput was speaking about Thailand’s economic trends on Monday at the bank’s annual seminar titled “Next ...

The Nation Reporter

Govt eyes economic boost from health and wellness tourism

The government is promoting health tourism and related products and services in a new campaign to get overseas visitors to spend at least 18 million baht by this September. The “Discover the New You!” campaign is backed by the Tourism Authority of Thailand (TAT) and more ...

Bangkok Post Reporter

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