Tax review looms amid debt unease

Revamp of deductions is likely

- WICHIT CHANTANUSORNSIRI

The Finance Ministry is preparing to review tax deductions and exemptions as part of efforts to address concerns over public debt raised by credit rating agencies.

According to Finance Minister Ekniti Nitithanprapas, the ministry is scheduled to review the medium-term fiscal framework (MTFF), which serves as the government's fiscal discipline guideline, in November.

Several issues are under consideration, including adjusting the criteria for various tax deductions (which do not require amendments to the Revenue Code), reviewing previously granted tax exemptions, and promoting the use of digital systems for tax filing.

"Although we have not yet made digital filing mandatory, I believe transitioning to a digital system while allowing exceptions for those with limited access will significantly expand our tax base and demonstrate the government's fiscal discipline," he said.

Mr Ekniti said current deductions are too scattered and lack a clear framework. The ministry must set an annual ceiling for total deductions to define a clear maximum limit, he said.

The review is expected to be completed by November, and a study team is already working on it, said Mr Ekniti.