KBank's Strategic Acquisition in Muang Thai Group Holding
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KASIKORNTHAI
Government Policy: Short-term Policies
■Government Budget:
➤ Fiscal budget deficit in FY2023: Plan is for Bt695bn deficit to provide additional
supports to stimulate Thai economy after COVID-19 outbreak
■■■ Short-term Stimuli:
➤ Welfare Card: Give Bt200-300 a month to each welfare smart card (14.5 million
people) for purchase of necessary goods for those earning less than Bt100,000
annually; give Bt500 wallets to help with transportation costs
Thailand Plus Package: attract foreign investment, especially to expedite
investments from companies seeking to relocate as a result of ongoing trade war
➤ Cash handout for workers not covered by SSF: Bt5,000 monthly payments for 3
months to informal workers affected by COVID-19 (April-June 2020)
Supporting tourism: Subsidies for domestic tourists (Moral Support & We Travel
Together campaigns) (July 2020 to April 2021); "Special Tourist Visa" for long-
staying visitors (90-day stay in country, which can be extended twice, each for an
additional 90 days. Visa costs Bt2,000 per 90-day extension)
➤ Property stimulus package: Property transfer fees reduced from 2% to 0.01% and
mortgage fees reduced from 1.0% to 0.01% for buying condominium units priced at
not over Bt3mn (Jan - Dec 2022)
▸ Measures to help farmers: Price insurance for agricultural plants such as rice,
rubber, oil palm, cassava, and corn
➤ Measures to help flood victims 2022: Package of 14 tax measures including
Bt100,000 for house repairs and Bt30,000 for car maintenance to be deducted from
taxable income
■Short-term Stimuli (continued):
ธนาคารกสิกรไทย
开泰银行 KASIKORNBANK
➤ Projects to boost domestic consumption:
1) "Half-Half" scheme: a co-payment for food and general products subsidizing
half of the purchase price
- Phase 1&2: Bt3,500 to 15 million people (October 2020 - March 2021)
- Phase 3: Bt4,500 to 31 million people (July - December 2021)
- Phase 4 Bt1,200 to 29 million people (March-April 2022)
- Phase 5 : Bt800 to 26.5 million people (September - October 2022)
2) "Shop Dee Mee Kuen" - a tax deduction for spending
2.1) 2022: up to Bt30,000 (1 January - 15 Feb 2022)
2.2) 2023: up to Bt40,000 (1 January - 15 Feb 2023)
3) Purchasing power scheme of
3.1) State card holders: Bt400 to 13.34 million people (September - October
2022)
3.2) People classified as needing special help: Bt400 to 2.23 million people
(September October 2022)
Projects to boost travel:
1) We Travel Together: 40% of hotel expenses, or up to Bt3,000 per room per
night and food coupons of up to Bt600 a day (5th phase: February-September
2023)
2) Tour Travel Thai campaigns: 40% of the tour package price, or up to Bt5,000
per person
Measures to help people with rising living costs:
1) State welfare cardholders: Bt100 subsidy for cooking gas and up to Bt100
for water bill (October 2022 - April 2023)
2) Vendors with state welfare cards: Bt100 subsidy every 3 months for cooking
gas (January-March 2023)
3) Vulnerable groups: electricity subsidy (using electricity below 300 units per
month): bill subsidy since April 2023
4) Electricity bill subsidy of Bt150 in May 2023
Sources: Newspaper and KResearch (as of January 2023)
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KASIKORNTHAI
ธนาคารกสิกรไทย
开泰银行 KASIKORNBANK
Ongoing Government Measures to Assist Cost of Living
Household Assistance
Energy Prices
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Details
Train/Bus/Skytrain and Subway Fares: Bt750 monthly allowance for welfare card
holders to use for public transportation
Necessity Goods: A Bt300 grant per month in welfare card to purchase necessity
goods, products intended for education and farming materials from all Blue Flag shops
Cooking Gas: A Bt80 discount per three months in welfare card to purchasing cooking
gas
Allowances (e-Money): Depending on measure, which can be withdrawed from an
ATM, such as Elderly welfare allowance (Bt50-100) and Disable allowance (Bt200)
Water and electricity price: Reduce water and electricity bills and refund meter fees
Diesel Fuel:
➤ Extend Bt5 per litre excise tax cut for diesel until July 20, 2023
➤ Decreased retail diesel price to Bt32.50 per liter (Effective on May 4, 2023)
NGV and LPG Price:
➤ Household sector: increased LPG price cap to Bt423/per 15-kilo canister (Effective
March 2023)
➤ FT Rate: Fuel Adjustment Tariff (FT) Rate for electricity is set to decrease to Bt0.9119
(during May to August 2023)
Retail Diesel Price
Value-added-tax (VAT) Rate
On August 24, 2021, the Government announced the following VAT Rates:
■Maintain the 7% value-added-tax (VAT) rate until September 30, 2023
Source: The Census and Economic Information Center (CEIC), Electricity Generating Authority of Thailand (EGAT), newspapers complied by KResearch
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