PATIPAT JANTHONGThe Finance Ministry is considering additional tax incentives to encourage people to have more children as Thailand becomes an ageing society, according to a source familiar with the matter. The ministry earlier abolished the cap on the child tax credit, which was limited to three children, whether biological or adopted. In principle, the Finance Ministry aims to encourage people who are physically and financially ready to give birth to more children to boost the population. Thailand experienced a baby boom during 1963-83, when more than 1 million children were born a year. In 2015, there were 10.5 million elderly people, accounting for 15.8% of the total population.

Source: Bangkok Post May 22, 2017 00:00 UTC