New measures to alleviate the impact of COVID-19

March 30, 2020

The Thai Government has approved new measures to alleviate the impact of COVID-19.

The following measures are designed to support temporary and self-employed workers not covered by the SSF :

• 5,000 THB / month for three months for workers working for businesses that were ordered to close because of the COVID-19 outbreak.
• 10,000 THB emergency loans at a 0.1% monthly interest rate without collateral for loans of up to 30 months. Individuals may file for such loans by December 30th 2020;
• 50,000 THB special loans at a 0.35% monthly interest rate with collateral for loans of up to 36 months. Individuals may file for such loans by December 30th 2020.
• Lowered interest rate of state-owned pawnshops of 0.125% a month for two years.
• Training activities for workers affected by the COVID-19 outbreak.
• The extension of personal income tax filing deadline until August 31st 2020.
• Increased deduction of health insurance premiums from 15,000 THB to 25,000 THB for 2020 fiscal year onwards.
• Personal income tax exemption as compensation for medical and public health personnel in frontline of the COVID-19 outbreak.

Additional measures approved for business operators:

• Up to 3 million THB loans for SMEs at a 3% interest rate for the first two years of up to 5 years loans. Businesses affected by the Covid-19 outbreak (especially in the tourism sector) are eligible to apply for such loan by December 30th 2020.
• Extension of the annual corporate income tax filing until August 31st 2020, and until September 30th 2020 for the mid year corporate income tax filing.
• Extension of filing of excise tax for oil products operators extended until the 15th  of the following month for three months (April-June 2020).
• Extension of deadlines for filing tax returns and paying taxes for businesses in the service sector affected by orders to close business to prevent the spread of COVID-19, such as restaurants, bars, and nightclubs. (details to be confirmed).
• Exemption of import duties for products related to the prevention and treatment of Covid-19 until September 30th 2020.
• Exemption of taxes and fee cuts for debt restructuring with non-financial institution creditors.

Sources :Pattaya News, The Government Public Relations Department