A series of tax measures have been proposed to the Fiscal Policy Office as a way to prop up economic growth during the transition to a new government.

The Bangkok Post reports that the seven-measure package includes tax measures for the property sector, as well as tax deduction for domestic tourism spending worth up to 15,000 baht, a tax break on spending to buy uniforms, sports equipment and textbooks for students, a similar subsidy for welfare smartcard holders to help with taking care of parents, and a property measure to boost demand.

Finance Ministry director-general Ekniti Nitithanprapas said the department would seek approval for the measures in the next two weeks.

Related Reading: What Thai property buyers need to know about income tax

According to the Post,  Finance Minister Apisak Tantivorawong recently said it is essential for the Finance Ministry to launch stimulus measures because GDP growth is predicted at just above 3% during the first half of 2019 and "enormous resources" will be needed to shore up the economy if growth slows to below that level.

Already dented by the US-China trade spat, which is impacting global growth, the Thai economy has also been affected by political uncertainties.

Sources: Bangkok Post.

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