‘Easy E-Receipt’ tax deduction program launched today

The Commerce Ministry has launched the ‘Easy E-Receipt’ program today, under which consumers who buy consumer products, services or OTOP products will be issued with electronic receipts, which can be used to claim personal income tax deductions.

The maximum amount of spending, from today until February 28, is 50,000 baht. Of this, 30,000 baht must be spent on consumer products and services and 20,000 baht on OTOP goods.

More than 20,000 retail stores have registered to participate in the program, said Chakra Yodmanee, deputy permanent secretary of commerce, adding that the short-term program is expected to put about 70 billion baht in circulation at a cost of 10 billion baht in revenue loss for the government.

He said the Commerce Ministry has sought cooperation from all participating stores by not seizing the opportunity to jack up the prices of their goods and services.

An executive of CP Extra said that the company is ready to issue e-receipts or e-tax invoices to its customers when they make their purchases, but they are required to show their ID cards plus the receipts for their purchases.

An executive of a shopping mall said he expects sales during the period, which coincides with the Chinese New Year festival, will be boosted by about 20%.

The general manager of the Lucky Market store in Trang province said, however, that the program will advantage big businesses, because they are already equipped with devices to issue e-tax invoices.