The stringent measure, though an excellent step towards Thailand’s international commitment on labour laws, was announced hastily and without the transition period that would have allowed businesses and migrant workers to adjust. The resulting exodus of workers caused chaos in sectors of the economy with a high dependence on migrant labour. The principles behind the Revenue Department’s new announcement on SME taxation are likewise sound, since tax revenue and its efficient collection are the key component of the government’s fiscal resources. SME businesspeople and auditors report they have been warned by authorities that the tax law would be strictly enforced from October 1, the start of fiscal year 2018. In the end, it the government is unwise if it thinks it can issue such a threat without doing serious damage to the golden goose.

Source: The Nation Bangkok July 20, 2017 15:33 UTC