The Federation of Thai Industries (FTI) this Wednesday will ask the Center for Economic Situation Administration to approve its nine-point proposal aimed at using taxation tools and other relief packages to help businesses and employees get through the crisis. Authorities should consider waving corporate income tax for small and medium-sized enterprises for the 2020 to 2022 tax years, the FTI said. Fees caused by failure to file a mid-year tax declaration, based on profits made by companies, should also be waived, the FTI said. FTI believes the measure can help commercial banks, which grant loans to businesses, better manage the risks of non-performing loans. "The FTI is planning to ask the Industry Ministry to co-organise the 'Made in Thailand Expo' to promote Thai products," Mr Supant said.

Source: Bangkok Post September 20, 2020 23:37 UTC