Bangkok: The Thai SME Federation has put forward a proposal to extend the "Thai Help Thai Plus Phase 2" program, recommending an increase in the revenue ceiling for merchants to 5 million baht. The federation submitted this proposal to Minister Anutin Charnvirakul and Minister Ekniti, aiming to adjust the eligibility criteria for entrepreneurs.
According to Thai News Agency, Dr. Napapong Teerawor, President of the Thai SME Federation, addressed a letter to Prime Minister Anutin Charnvirakul and Deputy Prime Minister Ekniti Nitithanprapas. The proposal suggests extending the economic stimulus measure "Thai Help Thai Plus Phase 2" to boost the grassroots economy, revive consumer spending, and ease the financial burdens on the public, especially given the rising costs of utilities, labor, and raw materials.
The federation proposes two significant changes to the program's criteria to enhance participation among micro and small-scale businesses. The first proposal is to increase the income ceiling for entrepreneurs, raising it from 1.8 million baht to a maximum of 5 million baht per year. This change would allow more small businesses, especially those registered for Value Added Tax (VAT), to take part in the program.
The second proposal involves using verifiable tax components by requiring the latest financial statements or tax returns submitted to the Revenue Department as proof of income. This ensures transparency and fairness and encourages small businesses to comply with tax documentation without losing their rights.
The Thai SME Federation believes that these adjustments will effectively channel funds to small retailers, playing a crucial role in driving the long-term recovery of the Thai economy.