Skip to main content

MOL Received Cabinet’s Approval for Tax Measures in Gems Industry

Content Description

            On 17 January 2017, the Cabinet approved the support for Thailand to be the center of global trade for gems and jewelry which will attract and boost the trade of gems and jewelry in Thailand, particularly among tourists. This will also promote employment of skills labour which will boost income to the workers themselves, businesses and the overall economic environment. 

The Ministry of Labour’s Inspector-General and spokesperson stated that the measures to boost competitiveness in the gems and jewelry industry included tax benefits, permitting businesses to deduct twice the amount of expenses for skilled worker wages. The measures also included promotion of skills development in the industry by sharing production and technological knowledge from large manufacturers and experts abroad, to smaller businesses and schools, to preserve and develop skills workers to maintain traditional Thai designs. 

Labour Minister General Sirichai Distakul has already enforced policies to support Thailand as the global center for trade of gems and jewelry, including the determination of wages for standardized skills. This includes a wage of 420 Baht for level 1 capacity and 550 Baht for level 2 capacity for professions in lapidary, jewelry casting, jewelry designers and jewelers, effective 10 August 2017. This will encourage workers to take skill standard assessments and receive fair compensation according to their skills and knowledge. This will also motivate industry professionals towards self-development. These measures will also help businesses select qualified workers, reduce production expenses, retain high-performing staff and resolve labour shortages in certain professions. Overall, the measures will support the government’s national development efforts and improve the country’s competitiveness.

The Labour Minister assigned the Department of Skills Development to coordinate with the Gem and Jewelry Institute of Thailand to develop professionals in the industry to internationally recognized standards.


————————————–

Spokesperson and Publication Sub-Division /
Bureau of Publications/
Chaninthorn  Phettap – News/
18 January 2017

TOP