Income tax break sought for victims

The Finance Ministry plans to use tax measures to remedy the impact of the floods, allowing expenses for home and vehicle repairs to be deducted from personal income tax.

- WICHIT CHANTANUSORNSIRI

According to a ministry source who requested anonymity, Finance Minister Ekniti Nitithanprapas held a meeting yesterday with agencies under the ministry to prepare a major relief package for flood victims.

The meeting also considered the allocation of various budget sources — the regular budget, central emergency budget, and quasi-fiscal measures under Section 28 of the State Financial and Fiscal Discipline Act — to determine which portions could be appropriately allocated for relief efforts, including funds for upcoming stimulus plans such as the second phase of the “Khon La Khrueng Plus” co-payment scheme.

The ministry will initially use the central emergency budget because the situation qualifies as an urgent emergency, said the source.

The ministry intends to utilise existing funds from state financial institutions to support businesses and affected individuals, aiming to avoid using funds under Section 28 unless absolutely necessary.