Thailand Provides Additional Social Security Contribution Rate Reduction for COVID-19

The Thai Cabinet has reportedly approved a reduction of social security contributions by both employers and employees from 5% to 2% for the period September to November 2020 in response to the COVID-19 pandemic. This reduction follows a prior reduction of the contributions rates from 5% to 4% for employers and from 5% to 1% for employees that applied for the period March to May 2020. Where contributions have been overpaid for the periods concerned (paid at normal rates), a refund may be reque…