Deputy Government Spokesperson clarified Digital Wallet scheme procedures for merchants, refuting online claims about transaction limitations. Scheme supports small merchants and allows cash withdrawals under certain conditions.
Key Takeways
Deputy Government Spokesperson Karom Polpornklang clarified the procedures for merchants in the Digital Wallet scheme, countering online claims about alleged transaction limitations. He emphasized that the scheme supports small merchants allowing local, face-to-face, electronic payments, and excludes large department stores and wholesale entities.
Clarification on Cash Withdrawals
Karom explained that while immediate cash withdrawals post-consumer transactions aren’t allowed, merchants can withdraw cash after meeting legal sales criteria among themselves. These transactions must involve merchants who adhere to tax laws including VAT, corporate, or personal income tax regulations.
Ministry of Commerce Guidelines
The Ministry of Commerce has extensively debunked misleading claims, offering clear operational guidelines. Merchants must show tax compliance for the last two fiscal years, or continuous tax records if in business for less than two years, to be eligible for cash withdrawals. The deputy spokesperson urged stakeholders to consult official sources for accurate information to maintain the project’s credibility.
Source : Thai government clarifies rules for withdrawing cash from digital wallets
