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Agricultural Development Bank of China
InfoQuest

Thai cabinet approves exemption of factories from annual charges

April 29, 2020


Abstract : Deputy government spokeswoman Traisuree Taisaranakul said that the cabinet approved the exemption of all category 2 and category 3 factories of all sizes from the annual charges required under the Factory Act B.E. 1992 for one year.

InfoQuest, (April 29, 2020) -- Deputy government spokeswoman Traisuree Taisaranakul said that the cabinet approved the exemption of all category 2 and category 3 factories of all sizes from the annual charges required under the Factory Act B.E. 1992 for one year.

In accordance with the measures adopted by the cabinet on March 17, 2020 to provide relief to factories affected by the COVID-19 pandemic, the Ministry of Industry is required to waive the charges of category 2 and category 3 factories. Category 2 factories include those with machinery of no more than 50 Hp, no more than 50 workers, and whose employees must be notified in advance of the operation of the factory, such as plants associated with one or more agricultural products, including cultivation of edible fungi, orchids, and bean sprouts.

Category 3 factories are those that must have obtained the business licence in advance, such as those related to animals (one or more animals other than aquatic ones), like slaughtering plants of all sizes. Both types of factories of all sizes across the country will be free of one year's charges.

The loss of government revenue is expected to be 231,120,600 baht, but among the expected benefits are relief for factories affected by the pandemic to ensure that they can maintain operation. The value the measure will create for the industrial sector will be higher than the revenue loss the government will suffer from.

Source: InfoQuest, by Tanit Tongnok / Nisarat / Rachada, translated by Xinhua Silk Road

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