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Bangkok Post

Business

Thailand inches towards negative income tax

Lavaron Sangsnit Income Tax The Finance Ministry Thailand

People gather outside Krungthai Bank's Bang Yai Market branch in Nonthaburi on Thursday to seek help in registering for the new round of state welfare cards.

The Finance Ministry is preparing a comprehensive overhaul of the government's welfare system, laying the groundwork to implement a negative income tax (NIT) system in Thailand.

According to finance permanent secretary Lavaron Sangsnit, within two years or less the welfare system will be transformed into an NIT system.

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