Former Thai Prime Minister Thaksin Shinawatra made important warnings about the Thai economy and the global situation in a special speech at a seminar held in Hua Hin.
Thaksin noted that the return of Donald Trump, who won the US presidential election, poses risks for the Thai trade sector, while also emphasizing the importance of innovative financial instruments such as Bitcoin and stablecoins.
Bitcoin is accepted globally
Thaksin stated that Bitcoin has become a global trend and that Thailand needs to adapt to this digital transformation. He announced that Prime Minister Yingluck Shinawatra has instructed the Thai Ministry of Finance to establish a sandbox model to accept Bitcoin payments in tourist areas such as Phuket or Hua Hin. Thaksin said that this initiative could create an opportunity for Bitcoin owners to spend their digital assets in Thailand.
“I'm not saying buy Bitcoin today, but the trend is moving in that direction,” he said.
15 percent VAT statement
Thaksin recently addressed the public outcry over the Finance Ministry’s proposal to increase VAT by 15%. He acknowledged that the proposal was misrepresented and was causing unnecessary panic among the public. However, he argued that under international rules, companies must pay a minimum of 15% tax and that it would be beneficial for Thailand to act in accordance with this.
“A BOI (Office of Investment) company came to me and said, ‘If I pay this tax in Thailand, I don’t have to pay it in my own country.’ I explained to him that this payment will come back to Thailand through investment. For example, you can use this money to expand the factory or switch to green energy,” he said.
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