Finance Minister Pichai Chunhavajira emphasized the need for Thailand to integrate its tax system, highlighting that the current personal and corporate income tax rates are higher than international standards.

Speaking at the ACMA Business Forum 2024, he advocated for tax reductions to align with global norms.

He also mentioned the uniform collection of value-added tax (VAT) and proposed using a portion of VAT revenue to aid low-income individuals.

Mr. Pichai discussed the importance of restructuring debt from home and car purchases to support financial stability.

Despite having robust financial institutions, he suggested that debt resolution could lower costs for banks.

Highlighting Thailand's historical economic growth and current stagnation, he warned that the nation’s growth potential might decline if reforms are not implemented.

Additionally, he touched on the baht exchange rate and rising stock market trends, crediting governmental policies and investor confidence.