Savers earning over 20,000 baht interest a year to face 15 percent tax

13 Sept 12:19 Key points summarised by AI

Thailand will impose a 15% tax on annual bank interest earnings exceeding 20,000 baht, as announced by Finance Minister Apisak Tantiworawong.
This new measure targets individuals with large bank deposits (over 4 million baht) to prevent previous tax avoidance tactics, such as closing and reopening accounts to stay below the tax threshold.
The Revenue Department anticipates doubling its annual revenue from bank interest tax, increasing it from one billion to approximately two billion baht.
Banks and financial institutions are mandated to report customer interest details twice yearly (May and November); large depositors who refuse to provide information will face a 15% income tax on all interest received, even if below 20,000 baht.

New home loan scheme aims to boost property sector with Bt125 billion

Today 11:38 Key points summarised by AI

The Cabinet approved a new Bt50-billion 'A House for Each PLUS' home loan scheme from the Government Housing Bank, offering up to Bt3 million with 40-year repayment terms for low- and middle-income earners.
This initiative aims to significantly boost the property sector and national economy, projecting to generate Bt125 billion in economic activity and create jobs.