Search Results for: tax deductions
- Economy News
Thailand unveils 800k tax deductions under TISA plan
Thailand’s Finance Ministry is launching a new savings initiative to help citizens prepare for an ageing population, with tax deductions of up to 800,000 baht under the Thailand Individual Savings Account (TISA) scheme. Deputy Prime Minister and Finance Minister Ekniti Nitithanprapas revealed that the economic ministerial meeting yesterday, December 8, approved a key measure under the government’s fifth economic pillar,…
- Thailand News
Double tax deductions to boost northern Thailand tourism
The Ministry of Finance is planning to introduce measures under the Thai Travel Continues campaign to boost tourism in flood-affected areas in northern Thailand. The initiative will offer double tax deductions for two groups: individuals and companies holding seminars in the disaster-stricken regions. Finance Deputy Minister Julapun Amornwiwat announced that the Ministry of Finance, in collaboration with the Ministry of…
- Business News
New tax deductions approved to boost secondary city tourism
The Cabinet yesterday approved measures aimed at boosting tourism in secondary cities during the low season. Deputy Finance Minister Paopoom Rojanasakul announced that the new measures target both companies holding seminars and individuals travelling for leisure. Companies can now deduct expenses from corporate income tax for seminar rooms, accommodation, transport, and other related costs for domestic seminars held for employees,…
- Business News
Tax deductions and returns: key investment options in Thailand
Shrewd investors actively seek opportunities that provide tax deductions while ensuring respectable returns. Within this context, three primary investment options demand consideration. These options comprise insurance, long-term funding, and savings through provident and social security fund contributions. Investment choices are manifold. Social Security Fund, for instance, offers a tax deduction equivalent to the amount paid, capped at 9,000 baht per…
- Thailand News
Thailand launches tax rebate scheme with 50,000 baht cap
The Thai government has introduced the easy e-receipts initiative, allowing eligible purchases to be deducted from personal income tax. Deputy Finance Minister Julapun Amornvivat confirmed the Cabinet’s approval of the scheme, which is set to roll out from January 16 to February 28 next year. The deductions will be applicable for the 2026 tax filing period. Participants in this programme…
- Business News
Thailand unveils tax reform: Corporate tax cut, VAT hike rejected
Finance Minister Pichai Chunhavajira unveiled a bold tax reform plan to supercharge state revenue, drive national development, and level the economic playing field in Thailand. The announcement was made at the Sustainability Forum 2025, an event championing sustainable economic growth. Central to the plan is slashing the corporate income tax rate to 15%, aligning with OECD guidelines to keep Thailand…
- Tourism News
Tax breaks fall flat: Hoteliers sceptical of Thailand govt incentives
The hospitality industry in Thailand is abuzz as the government unveils a new policy aimed at boosting tourism in secondary provinces through tax benefits for hoteliers. But the response from hotel entrepreneurs has been lukewarm at best. According to the latest hospitality operators’ confidence index, a survey conducted by the Thai Hotels Association (THA) and the Bank of Thailand, 50%…
- Thailand News
Chaos in Pattaya: Motorbike taxi drivers tarnish tourist hotspot
Pattaya City and Banglamung district officials are grappling with a surge in incidents involving motorcycle taxi drivers, jeopardising the area’s status as a top tourist destination. Disturbing reports have surfaced, highlighting assaults on foreign tourists and harassment of individuals mistaken for ride-hailing service drivers. These altercations have frequently escalated into heated verbal confrontations and even physical violence. In response to…
- Business News
Thai govt unveils tax measures to spark tourism surge
The Thai Cabinet today approved a series of tax measures aimed at boosting domestic tourism during the low season, announced the deputy finance minister. These measures will be in effect from May to November and include tax deductions for companies organising conventions and seminars, according to Paopoom Rojanasakul. Further initiatives target increased domestic travel to secondary cities by allowing income…
- Thailand News
Thailand’s revamped tax system promises economic boost
In a bid to shield the public from economic turmoil, Thailand’s Finance and Interior Ministries have unleashed a slew of reforms, spearheaded by Paopoom Rojanasakul, secretary to the finance minister. Addressing a high-profile property seminar, Paopoom asserted that the proposed alterations to the land and building tax are geared towards bolstering collection efficiency and ensuring a fair tax rate. “We…
- Business News
Taxing times ahead: Employers must now e-file payroll returns
Vinit Visessuvanapoom, the Director-General of the Revenue Department, announced a new requirement for all employers to submit payroll tax returns electronically. The move is part of an effort to prevent fraudulent tax return forms. The director-general highlighted that before the department’s notification on income tax No.438, the electronic submission was voluntary. However, starting from January 1, 2024, all tax return…
- Business News
Vietnam aligns corporate tax with global 15% minimum to attract investors
Vietnam has adopted a resolution to equalise its corporate income tax with the globally accepted minimum of 15% for multinational corporations. This move is aimed at countering the global trend of countries competing to attract investors by lowering their taxes. The resolution was supported by a vast majority, approximately 94% of the National Assembly delegates, as per the legislative records.…
- Economy News
Thai finance chief cautions reform balance to prevent tax shock on economy
Krisada Chinavicharana, the permanent secretary at the Finance Ministry, sounded the alarm bell for the incoming government, stating that the proposed tax reforms aiming to bump up the revenue should not produce a shockwave effect on the economy. Currently, tax revenue stands at just 14% of the GDP, falling short of the expected 15% or 16%, Krisada said. He stated……
- Hot News
Driving licence point deductions starting next year in Thailand
Driving licence point deductions will start next year in Thailand to help curb traffic violations and dangerous driving. Starting January 9, 2023, the Royal Thai Police and Land Transport Department will enforce the demerit point system. Each driving license holder will be given 12 points to start with but will be deducted for each violation they are caught committing. The…
- News
23 day tax break to stimulate economy
The Cabinet on Tuesday approved a 23-day tax break for consumers to boost shopping activities nationwide by an estimated 10 billion baht and stimulate the economy. The Finance Ministry will lose about 2 billion baht in personal income tax collection as a result of the campaign, but the retail and other sectors will probably gain a combined 10 billion baht…
- Business News
Phuket Business: US tax regime – Comply or else…
PHUKET: At a US tax seminar held last month at the Holiday Inn, Patong, by the American Chamber of Commerce (AMCHAM) Phuket Chapter, American income earners and business operators were given a comprehensive update about the US tax regime’s reporting requirements and regulations. Two previous articles about the seminar – published in the Business section of the Phuket Gazette on…
- Business News
Phuket Business: Midyear tax filing deadline tomorrow
PHUKET: Tomorrow, August 31, is the midyear tax return filing deadline for both companies and individuals who have generated income in Thailand during the first six months of 2012 – regardless of where or how payments were made. The Revenue Department website states: “A company [or individual] is obliged to estimate its annual net profit [or net income] as well…
- Business News
Phuket Business: Income tax filing: Part II
PHUKET: For anyone who generated income in Phuket or elsewhere in Thailand last year, regardless of where or how they were paid, the personal income tax filing deadline is March 31. However, since the last day of this month falls on a Saturday, the last opportunity to file on time will be Friday, March 30. In the first of two-article…
- Business News
Phuket business: Tax filing deadline approaches
PHUKET: For anybody who generated income in Thailand last year – regardless of where or how they were paid – the personal income tax filing deadline is March 31. In this two-part series, the Phuket Gazette will outline the need-to-know basics for filing personal income tax in Thailand. First, we will cover taxable income, deductions and tax certificates. In the…
- Bangkok News
Thailand urged to act on gender law after marriage bill
Advocates are calling on the government to speed up the enactment of a gender recognition law following Thailand’s historic legalisation of same-sex marriage. People’s Party MP Tunyawaj Kamolwongwat, Vice-Chair of the House Committee on Children, Youth, Women, Older Persons, Persons with Disabilities, Ethnic Groups and LGBTI+, stated, “Gender recognition is our next mission.” Tunyawaj addressed this during the Law Out…
- Thailand News
Thailand plans 400-baht minimum wage amid SME concerns
Labour Minister Phiphat Ratchakitprakarn says he is dedicated to implementing a nationwide increase in the minimum wage to 400 baht, despite concerns over its effects on small and medium-sized enterprises (SMEs) and inflation. A tripartite wage committee is set to review this proposal tomorrow, March 12. Phiphat addressed a Parliamentary inquiry from Senator Tewarit Maneechai regarding the obstacles to this…
- Thailand News
Thai man wins nearly 100 million baht in Korean lottery
A man from Udon Thani, Thailand, has won nearly 100 million baht from a South Korean lottery, sharing the prize with a friend. His mother attributes the win to the positive karma from his good deeds towards his parents. After tax deductions and splitting the prize, each will receive around 30 million baht. The case came to light when reporters…
- Bangkok News
GSB windfall: Bangkok man wins 40 million baht jackpot
A man from Bangkok became the lucky winner of a 40 million baht jackpot from a special one-year digital Government Savings Bank (GSB) bond. The GSB Society page congratulated Danai, the lucky winner, on this extraordinary prize, stating that the prize distribution was genuine and congratulating him on winning the substantial amount. Danai, a client from the GSB branch at…
- Thailand News
Same-sex marriage to gain legal status in Thailand
Thailand’s Interior Ministry is set to enforce the Marriage Equality Bill, expected to become law later this month, according to a statement from ministry spokesperson Traisulee Taisaranakul. The Department of Provincial Administration (DoPA) has aligned its regulations with the new law and established guidelines to streamline the registration process. The department has also upgraded its computer systems and marriage registration…
- Thailand video news
Thailand video news | Fatal massage incidents in Thailand, Malaysia introduces digital arrival card for travellers
In today’s Thailand video news, Alex delves into a range of stories spanning Thailand and Southeast Asia. From tragic incidents highlighting safety concerns in the Thai massage industry to controversial VAT proposals stirring economic debates, the headlines reflect critical issues impacting locals and tourists alike. Other notable stories include infrastructure safety following a tourist’s electrocution, reckless tourist behaviour in Phuket,…
- Thailand News
Phuket hospital gets cancer care cash to kickstart cure (video)
Phuket’s medical scene is on the brink of a major transformation, thanks to two hefty contributions that have been earmarked for the region’s first government-run cancer treatment facility at Vachira Phuket Hospital. The Vachira Phuket Hospital is set to welcome a brand-new Radiation Therapy Building, funded by donations ringing in at a staggering 1.5 million baht. In a formal affair…
- Bangkok News
Khao San Road festive bookings hit a European slump (video)
The famed Khao San Road, once a bustling hub of backpacker activity in Bangkok, finds itself facing a slowdown in hotel bookings as the festive season approaches. According to Khaosan Business Association President Sanga Ruangwattanakul, reservations for the key dates of December 30 to December 31 have slumped to around 60%, down from 70% the previous year. This downturn is…
- Health
Working in Thailand: How expat health insurance protects your career and lifestyle
Starting a career in Thailand can be an exciting chapter, but it also brings unique challenges, especially when it comes to health and wellness. For expats, navigating Thailand’s healthcare system and meeting work permit requirements can be difficult. And while many employers offer some form of health insurance, it’s often not enough to fully protect you, particularly when unexpected medical…
- Business News
Thai ESG fund rockets to top spot with impressive returns
One Equity Thailand ESG Fund (ONE-THAIESG) is stealing the spotlight in the Thai ESG fund scene, boasting a whopping 8.53% return this year, as proudly announced by One Asset Management (ONEAM). What’s behind this stellar performance? A one-two punch of a policy rate cut by the US Federal Reserve and Thailand’s very own economic comeback. TESG funds are the latest…
- Tourism News
Thailand’s new scheme offers 400 baht to boost northern tourism
A new co-payment tourism promotion scheme aimed at revitalising the flood-affected northern region of Thailand will be presented to the Cabinet for approval, said Tourism and Sports Minister Sorawong Thienthong. Dubbed Travelling North Half-Half, the initiative will subsidise trips to the northern region later this year, offering up to 400 baht (US$12) per trip to 10,000 visitors. This scheme, proposed…
