The Thai government has announced the following relief measures to alleviate the impact of the COVID-19 pandemic:
I. Social Security (pending official regulation)
- Reduce contribution for 6 months from March-May 2020 as follows:
- Contribution paid by employers from 5% to 4% and (maximum contribution reduced to THB 600 from THB 750)
- Contribution paid by employees from 5% to 1% each (maximum contribution reduced to THB 150 from THB 750)
II. Extend the due date for contribution payment for March-May 2020 as follows:
- Contribution for March can be paid by 15 July 2020
- Contribution for April can be paid by 15 August 2020
- Contribution for May can be paid by 15 September 2020
III. Other support measures
1. Provide low-interest loans (soft loan) to small business operators in the tourism-related industry with a soft loan of maximum THB 3 million with an interest rate of 3% for the first 2 years. The Thai Government Savings Bank will be the leading bank to support this measure.
2. Refund on water/electrical security deposit
- Return of the electrical security deposit will be offered to the following consumer groups: 1. Households and 2. Small business operators. The application for refund can be submitted online since 25 March 2020 and the consumer can check eligibility online.
- Return of water consumption security deposit will be offered only to household consumers.
3. Reduce the electricity rate by 3% from April – June 2020 which will be granted to all types of consumers. Additionally, the relaxation of payment due date will be granted to specific industries such as hotel and apartment rental.
4. Reduce the water rate by 3% from April – June 2020 which will be granted to all types of consumers. Additionally, the relaxation of payment due date will be granted to specific industries such as hotel and apartment rental.
5. Visa amnesty: Foreigners whose visa expired from 26 March 2020 will be granted an automatic extension until 30 April 2020.
If you have any questions or need further information, please feel free to contact us.