To mitigate the negative economic impact on employers and employees in the sectors most affected by the outbreak of COVID-19, the Thai government has approved Phase Two of a series of financial and fiscal relief measures.
The measures, approved by the Cabinet on 24 March 2020, are as follows:
1. Relief measures for temporary and independent workers
1.1 Income compensation of 5,000 baht per month for three months for some 3 million workers not covered by the Social Security Fund (SSF), while those under the SSF will get increased unemployment compensation of up to 50% of salaries. The income compensation is applicable to businesses that were ordered to close because of the COVID-19 outbreak, such as sporting venues, theatres, massage parlors, spas, and gyms;
1.2 The issuance of a 10,000-baht emergency loan per person at 0.1% monthly interest with no collateral for loans of up to two years and six months. Individuals may file for the emergency loan until 30 December 2020. The Government Savings Bank and the Bank for Agriculture and Agricultural Cooperatives will provide a collective credit limit of 40,000 million baht;
1.3 The issuance of a 50,000-baht special loan per person at 0.35% monthly interest with collateral for loans of up to three years. Individuals may file for the special loan until 30 December 2020. The Government Savings Bank will provide a credit limit of 20,000 million baht;
1.4 Lowering the interest rate of state-owned pawnshops of 0.125% a month for two years;
1.5 Training and skills enhancement activities for workers affected by the COVID-19 outbreak;
1.6 The extension of personal income tax filing deadline…
