The cabinet met via a video conference on September 14, 2021. Some of the resolutions are as follows:
The cabinet approved in principle the Royal Decree issued under the Revenue Code Regarding Exemption from Revenue Taxes (No. ?) B.E. ? (Tax measure to support purchase of COVID-19 Antigen Test Kit), as proposed by Ministry of Finance.
In a bid to ensure efficiency and continuation of an effort to tackle COVID-19 situation, Ministry of Finance proposed the Royal Decree issued under the Revenue Code Regarding Exemption from Revenue Taxes (No. ?) B.E. ? (Tax measure to support purchase of COVID-19 Antigen Test Kit) to provide support to companies or juristic partnerships in purchasing the COVID-19 Antigen Test Kit for their employees/workers. Under the Royal Decree, companies can deduct 1.5 times of actual expenses incurred from the purchase of COVID-19 Antigen Test Kit until March 31, 2021.
The cabinet approved in principle the proposals made by Office of National Economic and Social Development Council (NESDC) on investment and economic stimulus measures to attract long-term stay of high-potential foreigners. Target groups are:
1) affluent global citizens;
2) foreign retirees;
3) remote workers who want to be based in Thailand; and
4) talents.
1. Long-term resident visa: A new type of visa exclusively granted to high-potential foreigner groups. A number of privileges will be given, including, among others, exemption for holders of Long-term resident visa and Smart visas not having to submit a written notice to the authority if their stay exceeds 90 days.
2. Amendment of related laws or regulations: Such as law related to land ownership, permission for aliens to work for both domestic-based and foreign-based employers, exemption on the regulation prescribing a ratio of four Thai employees for every foreign national employee, tax and customs exemption, etc.
The cabinet assigned Office of National Economic and Social Development Council (NESDC) to liaise with Office of the Board of Investment, Ministry of Interior, Ministry of Labor, the Royal Thai Police, and Ministry of Finance to proceed with the necessities.
According to NESDC, the implementation period of these measures would be 5 fiscal years (2022-2026), during which approximately 1 million foreign residents are expected, with the cash flow of 1 trillion Baht in the economic system, an increase of domestic investment by 800 billion Baht, and 270 billion Baht of tax collection. These measures will also supply Thailand with adequate number of talents for targeted business sectors identified in the Master Plan under the National Strategy (2018-2037), i.e., future industries and services, infrastructure, logistic system, and digital.
The cabinet also approved NRSDC?s proposal to evaluate overall achievement of the measures every 5 years. Tax and land ownership privileges will also be put to an end in 5 years after the effective date. However, if, based on the assessment, the measures prove beneficial to the country, extension may be considered as appropriate.
The cabinet approved the proposal made by Ministry of Agriculture and Cooperatives to extend the implementaion of 3large-scale irrigation projects due to the project implementation delay as a result of a number of obstacles. The 3 large-scale irrigation projects are as follows:
1. Muaklek Reservoir (Sara Buri province): from the implementation period of 7 years (2012-2019) to 11 years (2012-2022) under the earlier-approved budget framework of 3.745 billion Baht
2. Huay Nam Ri Reservoir Under the Royal Initiative (Uttaradit province): from the implementation period of 11 years (2011-2021) to 15 years (2011-2025) under the earlier-approved budget framework of 4.8 billion Baht 3.Nam Pi Reservoir Under the Royal Initiative (Phayao province): from the implementation period of 6 years (2016-2021) to 10 years (2016-2025) under the earlier-approved budget framework of 3.981 billion Baht
The cabinet acknowledged Industrial Economic Report for June 2021 as proposed by Ministry of Industry.
Based on the report, manufacturing production index (MPI) expanded by 17.6% YOY. The growth is due to the extremely low baseline (June 2020) as a result of the COVID-19 pandemic, and the export activities that have fared better.
Key industries that contributed to the expansion were automotive and parts (+90.06%), electronics (+32.32%), iron and steel (+28.93%), jewelries (+178.89%), and automotive tires (78.19%).
The cabinet approved the Government?s contingency fund for emergency (FY2021) (4th time) to implement 1,434 grassroots economic development and empowerment projects, earlier approved by the cabinet on September 7, 2021. The approved budget is 3,753,782,278 Baht. This is as proposed by Ministry of Interior.
The cabinet approved for the Department of Skill Development to become a member of the WorldSkills Asia, and approved in principle for the Department to send Thai youths to attend the WorldSkills Asia Competition. This is as proposed by Ministry of Labor.
Department of Skill Development has become a member of WorldSkills International since 1993. However, in order to sustain Thailand?s role and promote the skills of Thai youths at the regional level, the cabinet approved the Department?s membership in the WorldSkills Asia, and attendance of Thai youths at the WorldSkills Asia Competition.
The cabinet approved an appointment of M/S Baker Tilly Monteiro Heng PLT as External Auditor for Malaysia ? Thai Joint Agreement (MTJA) for the period of 5 years (2021-2025). This is as proposed by Ministry of Energy.
In the 29th Annual General Meeting Of MTJA on June 26, 2021, M/S Baker Tilly Monteiro Heng PLT was approved as MTJA?s External Auditor, replacing M/S PricewaterhouseCoopers who had acted as MTJA?s External Auditor during 2016-2020. The replacement is in accordance with Corporate Governance practice, as suggested by the Central Bank of Malaysia.
Source: Cabinet Meeting (Prayut Chan-o-cha) September 14, 2021