Government agencies including the Finance Ministry are expected to propose measures to ease the cost of living for consumers and businesses, aiming to stimulate domestic consumption via "New Year's gifts", for cabinet consideration on Tuesday, says a ministry source who requested anonymity.
The ministry will propose to the cabinet extension of the reduced jet fuel excise tax for another six months to support the airline and tourism sectors, the source said.
The current measure runs from July 1 to Dec 31. It lowers the excise tax on jet fuel to 0.20 baht per litre from the original 4.726 baht to help local airlines ease operating costs amid the impact of the pandemic.
Other ministry proposals include allowing shoppers to claim spending up to 40,000 baht on items or services for a tax deduction.
This new measure will run from Jan 1 to Feb 15, 2023, totalling 46 days, said the source.
Maximum spending eligible for tax deduction is split into two parts: 30,000 baht for products or services for shoppers who receive paper tax invoices, and another 10,000 baht for shoppers who ask for electronic invoices.
The measure does not cover the purchase of some products and services, including alcoholic beverages, cigarettes, cars, motorcycles, boats, hotel rooms, tour guide fees, utility bills, mobile phone call bills, internet service bills and insurance premiums.
This shopping measure is expected to cost the Revenue Department 8.2 billion baht, but will generate 56 billion baht in cash flow into the economy, the source said.
The Treasury Department is expected to propose the reduction of land rental fees for farmers, while state-owned banks will propose special prizes via savings lotteries and other special financial benefits to customers who have good loan repayment records, said the source.
The source said the Finance Ministry would also propose renewing the reduction for property transfer and mortgage fees for another full year in 2023.
The existing measure cuts the property transfer fee to 0.01% from 2% of the appraisal price and the mortgage fee to 0.01% from 1% of the loan value.
The measure covers new and second-hand residential units.
