Thailand government's new policy stimulates tire consumption

2019-03-22 20:11:30 27

According to foreign media reports, Thailand’s “consumption for the country” policy was implemented on December 4.

This is a policy measure to stimulate domestic consumption. The country has taken this measure at the end of the year for three consecutive years.

Thai Finance Minister Abisa revealed that the Thai Ministry of Finance has formulated a specific implementation plan for this policy, and the maximum amount of tax credit is no more than 15,000 baht.

A spokesman for the country's tax bureau said that this year's policy only encourages the purchase of three types of goods, including tires, books and OTOP products (one township and one product).

Among them, measures to encourage the purchase of tires can stimulate the increase in domestic rubber demand and improve the low rubber prices.

This measure is implemented until January 4, 2019 and lasts for one month.

It is estimated that during this period, the Thai government will reduce the tax revenue of 1.6 billion baht.

At the same time, the "consumption for the country" measures will also contribute to the country's economic growth next year, with a contribution of 0.1-0.2%.