Thailand clears bad credit records older than 8 year of 600,000 people.

Thailand's Credit Information Protection Commission annouced in the Royal Gazette clearing bad credit records older than 8 year for 600,000 persons from database so that they would be eligible for financial credit applications to commercial bankings.

In addition, another annoucement stated that, from now, savings cooperatives would be classified as legal financial institutions, thus allow credit information from the coops to be included in the credit rating database so that more people would have access to financial sources.

Ref : Post Today.

Yingluck's First Car tax refund project proved disaster

TDRI concluded that the tax refund for 'first personal car' policy of previous Yingluck government was a complete financial disater for government as well as private sectors alike.

• Taxpayers lost tax revenue of around 82 billion Bahts.
• Car dealers suffered from false high demands, later had to give heavy discounts for their over stocks of cancelled reservations.
• Vehicle Manufacturers / Assemblers suffered because of a drastic purchase slow down in following year.
• Second-hand car dealters lost a lot of money since most people went to purchase brand new cars instead.
• Car rental services suffered because people bought their own cars instead.
• Financial firms suffered because of bad car loans, and extended payments.
• The state lost excision tax as well as value added tax (VAT) in part.

Ref: from facebook source

NCPO approved 8-year transportation improvement strategies

NCPO approved a 8-year transportation improvement strategies (BE 2558-2565 or CE 2015-2022).

NCPO also approved next year 108 billion Baht budgets for transportation improvements (BE 2558 or CE 2015).

First priorities are dual track projects for 6 routes, for 1 Meter Gauge for 887 km, to be complted in 2563 (2020).

NCPO also approved the future development of dual tracks with Standard Gauge, for electrical trains for a speed of 160 km/hr. Two routes, northeastern-eastern (Nongkhai - Korat - Saraburi - Laem Chabang, Mabtaphut,737 km for 392.57 billion Baht) and northern-central (Chiang Khong - Denchai - Ban Phachi, 655 km, 348.89 billion Baht) will be quickly implemented, to service passengers and freight trains.

Ref: Manager

Thailand CCC indicted former Prime Minister

Today, the Counter Corruption Commission unanimously (7:0) agreed to file criminal charge against former Prime Minister Yingluck Shinawater for her faults while in the position on the controversial rice pledging program which caused severe financial losses to the country, destroying rice market and rice exports, and neglected widespread corruptions at numerous steps of the process. The CCC would file the charge to criminal court.

Ref: Isra News

Thailand 's new purchase tax rate

Today, NPOMC (National Peace and Order Maintaining Council) declared a VAT (value added tax) reduction for 1 year, from October 1, 2014 - September 30, 2015, to 6.3% (from 7%). Then, the VAT would be increased to 9% from October 1, 2015.

Ref: Manager

AUA members replied to US's interference on Thailand

Committee and members of American University Alumni Association (AUA) made statements to the US government concerning its interference in Thailand's affairs.
They said, the Kingdom of Thailand has a long history, never was a colony of any western country. With the US's criticizing the political roadmap of Thailand, it is losing a lot of friends quickly. It 's time now that it respect its ally on equal term, not as its colony. Thailand will maintain its sovereign and freedom, and remain an honorable Kingdom.

The USA has had difficulties in the past history, for example its civil war took longer than 25 years.

The US's demand that Thailand spend time less than a year to reform indicated that it did not study fractures within our society. It is lucky for Thailand for we have not lost millions of people like the US did in its civil war.

Ref: My excerption and translation from Maticon

Thailand government budget proposed to be 2.6 trillion Baht

Thailand's MoF, Budget Bureau, NESDB, and BoT had a meeting to establish a budget framework for next fiscal year (BE) 2558, to start from October 1, 2014. The meeting agreed upon a 2.6 trillion Baht budget, with a 200 billion Baht budget deficit. Around 17% will be investment budgets.  The draft budget bill will be submitted to higher authority, and the next parliament.

Ref: MCOT