International Business News: Income gauges explored for NIT project The Finance Ministry is studying the methods to evaluate incomes of all Thais as the first step for the negative income tax (NIT) project. The Finance Ministry is studying the methods to evaluate incomes of all Thais as the first step for the negative income tax (NIT) project, which is a progressive income tax system where people earning below a certain amount receive supplemental pay from the government instead of paying taxes. The Fiscal Policy office believes the project will help reduce the need for populist policies, reduce poverty, balance income distribution, provide an incentive for people to work hard and bring more people into the tax system. The sources of funds for the programme may come from additional tax collections or funds for some populist policies. (Source: The Bangkok Post)
Posted on: Mon, 13 Oct 2014 04:44:43 +0000
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