The Cabinet meeting on 20 January 2009 has come to the following solutions;
Approval of the Ministry of Finance’s proposal on measures to help people reduce cost of living. The cabinet agreed to extend the 6 Months measures for another six months from 1 February 2009 or at the day after the measures expired. In this regard, 13,901 million baht has been set aside from the annual fiscal budget of 2009. Four Government’s measures implemented in line with the Cabinet’s resolution on 15 July 2009 are aimed at assisting people to less living burden on cost of transportation and utility service including public water, household electricity, bus and 3rd level train fare for six months. The measures have proved benefit people. The renewal 6 months measures project will cover more people in various provinces.
Acknowledgement Ministry’s Commerce on International Trade in 11 Months of 2008 (January — November). The Export in November 2008 was worth 11,870.2 million USD which reduced by 18.60 % when comparing to those of the previous year. The export of agriculture product such as rice, natural rubber and tapioca product was reduced by 13.5 % due to the low world demand. Therefore, the total of export in 11 months of 2008 reached at 166,236.4 million USD which was increased by 19.7 % from last and accounted of 97.1 % of the export target. The Import in November 2008 was worth at 13,072.6 million USD increased by 2 % when comparing to those of last year. The import was reduced in many categories especially cruel oil. The import value in 11 months of 2008 was worth 167,398.4 million USD. Thailand was lost in trade balance at the amount of 1,162 million USD.
Approval of the Ministry of Finance’s proposal on four tax measures to support the Government’s Economic Stimulus Package. Four tax measure are in details;
1. Tax measures to promoting SMEs and Community Enterprise and reducing people’s cost of living. The minimum income to calculated for income tax at 0.5 % will expand to 1,000,000 baht from 60,000 baht while ceiling rate for community enterprise tax will increase from 1,200,000 baht to 1,800,000 baht. SMEs, meanwhile, will receive the financial support for through Venture Capital
2. Tax measures to assist real estate industry. The buyers do not need to pay tax.
3. Tax measures to stimulate tourism industry. The government agencies have been urged to organize seminar in country instead of going abroad
4. Tax measure for debt and corporate restructuring
Approval of the Appointment Thai Trade Representatives as proposed by the Secretariat of the Prime Minister’s office. The Thai Trade Representative organization will be consisted of Chairman and Thai Trade Representatives. Thai Trade representative will be the Prime Minister’s special envoy in negotiation at the Ministerial level.
--Cabinet Meeting (Abhisit Vejjajiva) January 20, 2009--