Cabinet Allows Tax Break on Software-related Expenses BANGKOK (NNT) – The Cabinet has approved a measure to allow small-and-medium-sized enterprises (SMEs) to use their software or computer program-related expenses as a deductible against corporate income tax due, at the rate of two times the expense in some cases. Revenue Department Director-General Dr Ekniti Nitithanprapas said…
Bank for Agriculture to Offer Debt Moratorium for up to One Year BANGKOK (NNT) – The Bank for Agriculture and Agricultural Cooperatives (BAAC) will offer a debt moratorium, from six months to a year, to indebted clients who are farmers, cooperatives, village funds or agricultural communities as of 1 April 2021. BAAC manager Thanarat Ngamwalirat…
Thai central bank ready to provide more support measures as coronavirus escalates BANGKOK, May 13 (Reuters) – Thailand’s central bank said it will announce new measures on Friday to help households and small businesses during the pandemic and could provide further monetary and credit support if needed as the country deals with a third wave…
Thailand: BoT keeps rates unchanged – UOB UOB Group’s Economist Barnabas Gan reviews the latest monetary policy meeting by the Bank of Thailand (BoT). Key Quotes “The Bank of Thailand (BOT) kept its one-day repurchase rate unchanged at 0.50% as widely expected for the eighth consecutive meeting on 05 May 2021. The last time it…
UPDATE 2-Thai c.bank keeps policy rate at record low, warns of COVID-19 risks * Central bank holds key rate at record low 0.50%, as expected * Says economy to expand sharply less than forecast this year * Says monetary policy to remain accommodative * Says fiscal policy, exports to support economy (Adds GDP scenarios, analyst…
Exim Thailand Will Offer Special Loans to Promote Future Industries BANGKOK (NNT) – The Export-Import Bank of Thailand (Exim Thailand) aims to offer loans, at special low interest rates and with longer grace periods, to promote Thailand’s future industries. Exim Thailand president Rak Vorrakitpokatorn said the bank is offering a longer grace period to allow…
Singapore’s PayNow and Thailand’s PromptPay Launch Cross-border Payment System In a global first, Singapore and Thailand have linked their real-time payment systems, PayNow and PromptPay allowing international fund transfers between the two countries within minutes. The Bank of Thailand (BOT) and the Monetary Authority of Singapore (MAS) have launched on Thursday a linkage of Thailand’s…
Finance Ministry cuts 2021 GDP forecast to 2.3% The Finance Ministry slashed its 2021 GDP growth forecast from 2.8 per cent to 2.3 per cent on Thursday, citing the impact of fresh Covid-19 outbreaks on the Thai economy. The surge in infections here and abroad would affect international travel to Thailand, said the ministry’s Fiscal…
Banks to control asset quality The Thai banking industry is expected to remain cautious in controlling asset quality amid economic turbulence brought about by the Covid-19 pandemic. Pasakorn Wangvivatcharoen, research manager at Asia Plus Securities, said local banks showed signs of improving fee-based income from securities and asset management business. “Despite setting aside a massive…
Major Thai bank experimenting with decentralized finance Kasikornbank has identified asset-backed DeFi as having the potential to create economic value for Thailand. Kasikornbank, or KBank, one of Thailand’s largest banks, has begun experimenting with DeFi services as part of its business expansion plan. According to a report by Bangkok Post, the bank’s decentralized finance exploration is being…