Thailand’s art tax incentives: Turning creativity into economic power

While the measures remain at the draft legislation stage, they have already attracted considerable attention for their potential to energise the domestic art market, boost creative entrepreneurship, and strengthen Thailand’s cultural influence on the global stage. 

First measure: Tax deduction for art buyers 

To encourage art appreciation and investment, a new personal income tax deduction allows individuals to claim up to THB 100,000 per year for eligible purchases of Thai artworks made between 1 January 2025 and 31 December 2027. 

Eligible artworks must be purchased directly from: 

• National Artists in the field of visual arts; 
• Silpathorn Award-winning artists; 
• Artists registered with the Office of Contemporary Art and Culture; or  
• Companies, partnerships, juristic persons, foundations, or associations engaged in selling or auctioning artworks created by the aforementioned artists. 

To qualify for the deduction, buyers must obtain a valid tax invoice or official receipt containing details of the artwork and the artist. This documentation will be required by the Revenue Department when claiming the deduction. 

By incentivising art purchases, the measure aims to create stronger market demand, support local artists, and enhance the value of Thai art as a cultural asset.  

Second measure: Increased deductible expenses for artists 

Starting from the 2025 tax year, individual artists earning income under Section 40(6) of the Revenue Code will be allowed to deduct 60% of their income as expenses, up from the previous 30%. 

This enhanced deduction applies without limitation on the type of artist, providing fairer tax treatment and reducing financial constraints for creative professionals 

The measure aims to encourage artistic production, foster innovation, and support the long-term development of Thailand’s creative economy. 

Forvis Mazars’ insight 

These initiatives mark an important step in integrating creativity into Thailand’s economic development strategy. By supporting both art creators and collectors, the government seeks to transform cultural appreciation into a sustainable economic ecosystem, one that empowers local talent while advancing Thailand’s global soft power agenda. 

For taxpayers and art investors, these incentives offer a unique opportunity to blend passion with purpose, turning every artwork purchased or created into a contribution to Thailand’s creative growth.  

Key takeaways 

• Tax deduction up to THB 100,000 per year for eligible art purchases (2025–2027) 
• Expense deduction for artists increased to 60% (from 30%) effective 2025 
• Measures support Thailand’s soft power and creative economy strategy 
• Encourages both cultural participation and economic contribution Stay tuned for further updates once the draft measures are enacted into law.  

Reference (in Thai): 

• Ministry of Finance News No.109. Retrieved from the Royal Thai Government.