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 Tourism and Sports, is working on measures to stimulate tourism in northern areas affected by flooding. The proposed campaign, tentatively named Thai Travel Continues, aims to provide double tax deduction benefits for personal and corporate expenses incurred in organising seminars in disaster-hit areas.
“The flooding has caused widespread concern, leading to numerous hotel booking cancellations. However, some areas remain unaffected and are operating normally. This measure aims to draw spending back to the affected regions. While the campaign name is not yet finalized, initial plans suggest offering double tax deductions.”
Additionally, the Ministry of Finance is preparing tax measures specifically for flood-affected individuals in the north. This includes extended deadlines for tax submissions for both individuals and corporations, and tax deductions for expenses related to home and car repairs due to flooding. These measures will apply to areas officially designated as disaster zones by the Department of Disaster Prevention and Mitigation, under the Ministry of Interior.
The proposals are currently being prepared for submission to the Economic Stimulus Committee, with a meeting expected by the end of this month or early next month, before being presented to the Cabinet.
This initiative aims to mitigate the economic impact of the floods by encouraging tourism and supporting affected individuals and businesses. The campaign’s goal is to reassure potential visitors that many areas are still safe and operational, thereby revitalising local economies hit by the floods, reported KhaoSod.
In related news, festive events and new stimulus campaigns are set to boost domestic tourism revenue in Thailand to between 950 billion and 970 billion baht (US$28.6 and US$29 billion) this year, according to the Tourism Authority of Thailand (TAT).
