Thai Cabinet Approves First Phase of Stimulus Package to Counter the Impacts of the Coronavirus

On 10 March 2020, the Thai Cabinet approved the first phase of a stimulus package to counter the impacts of the coronavirus (Covid-19) including certain tax measures. The main measures include:

• A reduction in the domestic corporate withholding tax from 3.0% to 1.5% with effect from 1 April 2020, provided that companies make payments via an electronic tax withholding system, with the rate to increase to 2.0% from 1 October to 31 December 2020;
• VAT refunds are expedited, with online refunds to…