Thai junta offers million baht raffle to bring tax returns online

Bangkok

"WANT to win a million baht? Go for e-payment," says Thailand's junta, offering a lucky draw as an incentive to use a new online payment scheme for business, in an effort to bring some of the massive informal economy onto the books and boost tax revenues.

As South-east Asian economies struggle and tax income misses budget targets, Thailand's finance minister is hopeful a nationwide e-payment scheme will add tax revenue of 100 billion baht (S$3.9 billion) a year to the coffers.

Finance Minister Apisak Tantivorawong has estimated the move will save banks and businesses a combined 75 billion baht a year though other policymakers expect it could take some time for businesses to change their habits. Cash and cheques now make up 80 per cent of …