"Shop Dee Mee Kuen" - Tax Deduction for the Purchases you Make!
The Thai Cabinet gave approval to a new stimulus plan on December 20, 2022, to support the nation’s economy in 2023 as tourism will improve drastically. Please note that customers who spend money on goods and services in Thailand will be able to deduct up to THB 30,000 in taxes due to the “Shop Dee Mee Kuen” program. Additionally, note that “Shop Dee Mee Kuen” means “Shop and Payback”.
The initiative will run from January 1 through February 15, 2023. Meaningfully, it will create more than THB 56,000 million in cash flow for the nation. Furthermore, according to the estimates from the Ministry of Finance, is going to cost the Revenue Department THB 8,200 million in lost tax revenue. However, the program has the potential to increase Thailand’s GDP by 0.1-0.2% in 2023.
For the slab of Deduction, read here - shorturl.at/egio3