Bangkok: Ekniti Nitithanpraphas, Deputy Prime Minister and Minister of Finance, unveiled plans to introduce new savings measures, including a maximum deduction of 800,000 baht, aimed at preparing the population for an aging society. Ekniti assigned Supachai to monitor US trade issues and asserted that Cambodia had initiated the conflict, absolving Thailand of fault.

According to Thai News Agency, Ekniti disclosed that a meeting of the Economic Ministers Committee focused on Pillar 5 measures, intended to promote savings, enhance financial security, and support Thailand’s adaptation to an aging society. The tax deduction limit will be increased to 800,000 baht without the need for annual applications. Additionally, individuals earning less than 1.5 million baht annually, a group encompassing 11.4 million people, will see a 1.3-fold increase in their tax deductions.

Ekniti highlighted that these measures serve multiple purposes: increasing tax deductions for everyone and encouraging participation in the capital market. A waiver of withholding tax on the first 200,000 baht for holdings exceeding five years is planned. The introduction of Savings Plus bonds, available for monthly purchase, is also on the agenda. These bonds will provide access to secure government investments at a minimum price of 1,000 baht and will exempt stamp duty on insurance purchases.

On the subject of state welfare card measures, Ekniti mentioned that discussions are ongoing, while the “Half-Half Plus” measure was not addressed in the current economic cabinet meeting. Concerning border clashes and their potential impact on US tariff negotiations, Ekniti confirmed discussions with Commerce Minister Suphajee Suthumpun. He maintained that Thailand was not at fault, suggesting that preparations were necessary despite the assertion of Cambodian aggression.