Govt proposes budget of Rp770 4 trillion for village fund transfers
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Cabinet backs tax and fee incentives for community banks
published : 14 May 2021 at 04:00
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The government s community bank is receiving support after the cabinet approved tax and fee incentives to help businesses.
Deputy government spokeswoman Traisuree Taisaranakul said on April 27, the cabinet signed off on tax and fee incentives to support the community bank, as well as endorsed a reduction of the property transfer and mortgage fees for the bank s establishment and operation.
The tax measures include waivers of personal income tax for members on interest earned from deposits in all accounts worth less than 20,000 baht, as well as income earned from dividends and refunds available from annual net profit allocation and stamp duty on documents the institution issues to members.