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November 2019 : Crown Prince Vajiralongkorn Accessed to the Throne

  • Crown Prince Vajiralongkorn reigns as the 10th Monarch
  • A 20 billion baht loan allocates for cluster farming
  • Cash allocation 5.4 million people registered in low income non-agriculture group
  • A reform to maximize officials salary to 35% of agencys expenditures
  • NLA passed first reading on contract farming draft bill
  • Administration Court ruled Mae Wong Dam Project needs study-hearing
  • State Audits petition on Klong Dan compensation rejected
  • Corporate tax exemption on E-Payment
  • Tax incentives to boost tourism applies on December
  • Minimum wages increase in 69 provinces effective 1 January 2017
  • Public debts rose to 42.73% of GDP
  • A community financial institution to be established for the Prompt-Pay system
  • 4 incentive packages to help senior citizens

    Crown Prince Vajiralongkorn reigns as the 10th Monarch

    On 29th November, the National Legislative Assembly held an extraordinary session to acknowledge the Cabinet inform on the accession to the throne of Crown Prince Maha Vajiralongkorn. In regards to the Royal Family Laws B.E. 2467, His Royal Highness Crown Prince Maha Vajiralongkorn shall succeed the late King Bhumibol and proclaims the tenth Monarch of the Chakri Dynasty.

    A 20 billion baht loans project for agricultural clusters farms

    On 22nd November the Cabinet resolved on the 20 billion baht Loan Project to help cluster farming land on condition the borrowers must be groups of farmers, community enterprises or cooperatives. A total of 2,000 land clusters are entitled to apply for loans of maximum 10 million baht per group. The loans must be used for the development of production and running cost, provision of water resource and infrastructure, and purchase farming machines.

    The Cabinet resolution, on 31th May 2017 and 30th August 2016, on the large scale farms were revoked due to they were not much responsive by the farmers.

    12 BB for 5.4 million non-agriculture low income group

    On 22nd November the Cabinet resolved on financial aids of total 12,750 million baht to help the low income non-agricultural group. Approximately 5.4 million people has registered and those whose annual income less than 30,000 baht will get a baht 3,000 cash and between 30,000 to 100,000 baht, 1,500 baht. The payment will be paid, during 1-30 December 2016, into their accounts in the Bank of Agriculture and Agricultural Cooperative, the Government Saving Bank and the Krung Thai Bank.

    Officials salary and benefit to a max. 35% of agencys expenditures

    On 8th November, the National Reform Committee (NRC) held a meeting to consider the Steering Committees proposal on the national reform and resolved, with 139 to 3 and 5 abstains, to approve the state official reform plan. The National Salary Committee (NSC) authority should be re-authorized to supervise and control the policies regarding to state officials salaries and benefits. Previously the NSC was established as the policy-making committee but this revision will allow them to oversee the state agencies expenditures on salaries and benefits to not exceed 35 percent of total expenditures. The resolution will be forwarded to the NRC chairperson within 7 days.

    NLA approved principles on contract farming draft bill

    On 10th November, the National Legislative Assembly voted to pass the first reading of the Contract Farming draft bill with 202 to 3 abstains. The Bills principle is to promote and develop contract farming agriculture in compliance with international norms and justice. It was realized that while contract farming is a mean to improve agricultural production and sustainability, the farmers must have multi-knowledges and technological skill. Moreover, legal complexity could become disadvantage and risk to contract farmers, therefore, the Bill will safeguard justice and promote development for all parties.

    Central Administrative Court ruling on Mae Wong Dam Project

    On 24th November, the Central Administrative Court ruled that the State should fulfill the mandate requirements on environmental and public health impact assessment, and hold public hearing(s) among the local stakeholders before implementing the plan. Those actions should be supervised by independent agent comprises of representatives from private and educational agencies. The petition was launched by the Stop Global Warming Association and its 151 affiliations against the Prime Minister and 4 cabinet members in regards to Section 4 of the Interim Constitution B.E. 2557 .

    State Audits petition on Klong Dan compensation rejected

    On 10th November, the Central Administration Court declined the State Audits petition on the Klong Dan wastewater treatment plant compensation. However, the petitioner can appeal to the Supreme Administration Court within 1 month after the Courts ruling.

    The decades long law suit ended at 12 January 2011 when the Arbitrary Committee ruled the Pollution Control Department should pay compensation, 4,983,342,383 baht and 31,035,780 USD with 7.5 interests per annual starting from 28 February 2003 until payment completes and return the warranty letter and fee to the projects consortium; Vichitpan Construction, Sri sang Karn Yodha, Prayoonwit, Krung Thon Engineering and Gateway Development on their losses in regards to the contract revocation.

    E-payment to be regulated by royal decree

    On 1st November, the Cabinet resolved on tax incentive measures, to be enforced by 2 royal decrees, to promote Electronic Payment system proposed by the Finance Ministry. The principles are:
    1. Tax exemption for twice the cost; divides into 100 % for corporate income tax and 100% for depreciation, for corporations investment of equipment and services paid for installations for e-payment. The exempt shall apply until 31st December 2018.
    2. Tax exemption for twice the actual expenses, for both individual and corporate taxpayers, on expenses paid for e-payment transaction fees.

    The two incentives will be applied since the effective date until 31st December 2012.

    Measures to boost tourism industry

    On 29th November, the Cabinet resolved on tax releif measures to boost tourism industry with tax exemption of maximum 15,000 baht in additional to the current exempt 15,000 baht, making a total of 30,000 baht, for individual taxpayers on their payment from traveling accommodation and services paid during 1 to 31 December 2016. It is anticipated the measure will cost a loss of 150 million baht on tax collection.

    Minimum wages rose in 69 provinces

    On 22nd November 2016, the Cabinet acknowledged the Wage Committee resolution on the increases of 5-10 baht per daily minimum wages in 69 provinces. The new minimum wages will be effective on 1st January 2017.

    National debt rose to 42.73% of GDP

    The Public Debt Management Office disclosed as of 30th September 2016 the public debt accounted at 5.98 trillion baht, equivalent to 42.73% of the Gross Domestic Product (GDP). Among those, 4.47 trillion baht was the government debts, 994 billion baht the non-financial state enterprises, 500 billion baht financial state enterprises 9 government guaranteed, and 22 billion baht state agents.

    The public debt has lessen from 44% of GDP in the beginning of this fiscal year but increased 200 billion baht when compare to the same period of last year due to payment on loans in the rice pledging program. However, the payment decreased the total number of loans from 590 billion baht to 420 billion baht.

    Community Finance Institute to be established

    On 15th November, the Cabinet resolved to approve an establishment of a Community Finance Institute to promote and strengthen financial capability of the rural low income communities. Principles are to revitalize their economy, lessen financial burdens and provide accessibility to financial aids. The strategic plans are as follow:
    1. To create earning and develop financial potentiality of the people.
    2. To develop financial service to provide easy access to all.
    3. To develop financial infrastructure to provide financial accessibility.

    4 packages to help senior citizens

    On 8th November, the Cabinet resolved on 4 packages to help senior citizens. Since 2008 Thailand has approached senior society nation when more than 10% of the population was over 60 years of age. The percentile rose to 15% in 2015 and expected to be more than 20% in 2025. The measures are to 1.) Promote employment in private sector, 2.) Provide housing for the seniors, 3.) Mortages, and 4.) Integrate of pension systems.

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