Thailand to collect more taxes to ease public debt burden

The Finance Minister said Thursday Thailand will seek higher tax revenue to help ease the burden of public debt.

The government will start collecting e-commerce and e-service taxes from overseas platforms and will pass a law on such taxes in October, said the minister Arkhom Termpittayapaisith.

There are more than 90 platforms registered, Arkhom said.

Arkhom also expected the public debt level to reach 62.69 per cent of GDP by the end of September next year after borrowing 1.3 trillion baht, up from 55.59 per cent of the current level as of July.

“More borrowings are not only for reviving the economy but also to invest for long-term stable growth,” he added.

The government raised the cap on the ratio of public debt to GDP from 60 to 70 per cent earlier this month.

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