• 
• 

Published on December 19, 2007

"After consulting with the Bank of Thailand, we think that the baht bonds issued by foreign banks won't have much of an impact on domestic interest rates," the source said.

The debt office recently submitted its proposal to Finance Minister Chalongphob Sussangkarn.

Eligible bond issuers include the World Bank, Asian Development Bank, KfW, Japan Bank for International Cooperation, Citigroup, Swedish Export Credit Corp, Nordic Investment Bank, Deutsche Bank, Agence Francaise de Developement and KBN of the Netherlands.

Proceeds from the bonds, maturing in three years or more, will be used to extend loans to companies based in the issuers' country for their operations in Thailand, as well as for Asian infrastructure projects.

Meanwhile, the Cabinet approved the Finance Ministry's proposed tax measures to support charity work, including care of disabled persons, said Chodechai Suwanaporn, deputy government spokesman.

Those who take care of disabled persons who cannot help themselves, employers who hire the disabled, firms and any entity providing facilities to accommodate the disabled, and those who donate money or other items to support them, can deduct expenses or contributions from their taxable income.

Those who give up to 50 rai of land to foundations or non-profit organisations that take care of the disabled will also be exempted from taxes incurred from the transaction.

Sathit Rangkasiri, deputy director-general of the Revenue Department, said the tax breaks would not cause much revenue loss for the government, while direct support from people may reduce the government budget earmarked for helping the disabled.

Wichit Chaitrong

 The Nation