Tax Section - Doing Business
You will find here a series of summaries providing an overview of useful tax regulations, processes and tax issues for Doing Business in Thailand.
Update on significant changes to tax incentives
In our tax update for October 2018, we noted that the Cabinet approved four draft Royal Decrees proposed by the Ministry of Finance. On 28 December 2018, those Royal Decrees were published in the Government Gazette.
Personal income tax allowances
On 19 December 2018, Ministerial Regulation No. 341 issued by the Revenue Department was published in the Government Gazette. This regulation allows a personal income tax deduction of up to THB 15,000 for purchases of the following domestic goods or services from 15 December 2018 through 16 January 2019.
Tax deduction for a second child
On 11 November 2018, Amendment No. 46 to the Revenue Code was published in the Royal Gazette, effective from 12 November 2018. This amendment is intended to encourage married couples to have more children by allowing a taxpayer to claim a personal income tax deduction of up to THB 60,000 for a second child born from 2018 onwards.
e-Donation system
The Revenue Department issued the Notification on 9 November 2018 in relation to the e-donation system which will help donors who do not want to keep donation receipts as evidence for tax claims.
New land and building tax act in 2018
On 16 November 2018, the National Legislative Assembly (NLA) passed the Land and Building Tax Act, which will come into effect on 1 January 2020 and replace the current House and Land Tax and Local Development Tax.