New act in Thailand to give social enterprises a big boost
Tuesday, September 12, 2017
Apichat Todilokvech, director-general of the Community Development Department of the Interior Ministry said after the September 8 opening ceremony for Batik Week that the Cabinet two months ago approved that the Council of State revise the Social Enterprises Act. The NLA will then review the proposed changes.
The proposed changes would exempt social enterprises from the 30 per cent corporate income tax and allow a tax refund for 100 per cent of investments in social enterprises.
That should encourage all firms to expand their investment in social enterprises, Apichat said.
And this, in turn, would increase wages for lower-income people in the communities with social enterprises, and reduce the number of poor people in the nation, he said.
Some 20 social enterprises are now registered with the Community Development Department and another 56 have applied for registration.
Photo courtesy of Chhor Sokunthea.