Tax deductions of up to 200,000 baht will be offered for buyers of homes and condos worth up to 5 million baht as part of the new economic stimulus measures.

Nattaporn Jatusripitak, a spokesman for Deputy Prime Minister Somkid Jatusripitak, said the new incentive will run from April 30 to Dec 31 this year.

The cabinet on Tuesday approved the new stimulus measures worth 21.83 billion baht, the latest move to shore up a slowing economy and boost consumption to offset weaker exports.

The measures cover spending of 13.2 billion baht in public welfare benefits for low-income earners, plus tax measures worth 8.62 billion baht.

"The latest stimulus package should help boost economic growth," Mr Nattaporn said, citing the Finance Ministry's report to the cabinet that the Thai economy is likely to slow this year because of sluggish global economic growth, lower exports, poor consumer confidence and overall weak consumption.

Low-income earners are the hardest-hit by the country's slowing economy, he said.

Mr Nattaporn said the measures will run for five months, from May to September this year.

Of the 13.2 billion baht for public welfare benefits, 1.16 billion will be handed out to 1.16 million disabled people (an additional 200 baht per person per month); 4.1 billion baht to 4.1 million farmers who have registered as low-income earners (1,000 baht per person); 1.35 billion baht to 2.7 million children for school uniforms and educational supplies during school terms (500 baht per child); and 6.6 billion baht to 14.6 million welfare smartcard holders (additional 200/300 baht per person per month).

Mr Nattaporn said the government will also allow a tax deduction of up to 20,000 baht for domestic travel.

Also in store is a tax deduction of up to 15,000 baht for parents' spending on school uniforms, sports equipment and textbooks for students; and for buyers of books and e-books to promote reading.

Those who buy locally made products such as One Tambon One Product items worth up to 15,000 baht will be eligible for the tax deduction.

Meanwhile, companies that invest in point of sale, e-tax invoices and e-receipts, as well as e-withholding tax, will be also allowed to enjoy a corporate income tax deduction of up to two times.