Siripong Angkasakulkiat, the Government Spokesperson, revealed that the meeting of the Economic Policy Committee today approved in principle and acknowledged the implementation of the “Quick Big Win” measures to increase saving opportunities and financial security for the public, as proposed by the Ministry of Finance. These measures will be presented to the Cabinet for further consideration.
These measures to increase saving opportunities and financial security will provide the public with more diverse and convenient saving channels, motivate savings, and encourage middle- and low-income earners to save more. This will enhance their financial well-being (Financial Well-being), ensure sufficient income for retirement, and allow the government to reduce budgetary burdens for elderly welfare in caring for those unable to support themselves.
Mr. Ekniti Nitithanprapas, Minister of Finance and Deputy Prime Minister, disclosed that the “4th Pillar” measure regarding saving promotion aims to increase saving opportunities and financial security, and to accommodate the transition into an aging society. The tax deduction limit for the Thailand Individual Saving Account (TISA) will be raised to a maximum of 800,000 baht per year without needing annual approval. Individuals with annual income under 1.5 million baht—totaling 11.4 million people—will receive an increased tax deduction of 1.3 times. This aims to prepare Thais for an aging society, mobilize more savings, and boost capital market inflows.
There will also be incentive measures to bring people into the capital market, including a personal income tax exemption on the first 200,000 baht of dividends or interest for those holding for over five years. The “Om Plus” (Saving Plus) savings scheme will enable the public to purchase government bonds every month.
The “Om Plus” scheme will allow the public access to stable government bonds, with a minimum bond purchase of 1,000 baht, and the exemption of stamp duty on insurance purchases.
As for the second phase of the “Khon La Khrueng Plus” measure, it has not yet been discussed at this economic Cabinet meeting.
