Tax payers with health insurance can have taxes deducted automatically

Nuppol Suvansombut

 

 

BANGKOK, 5th October 2018 (NNT)-Tax payers no longer have to present proof of their health insurance payments to have their income taxes deducted under a move by the Revenue Department to have the Office of Insurance Commission (OIC) share tax payer data with it. 

Representatives of insurance companies were invited to attend a meeting organized by the Revenue Department and the OIC to make tax payment easier for tax payers. 

Insurance companies can now ask their clients whether they want to have their taxes deducted automatically by the Revenue Department. However, they will have to give the insurance companies permission to share their insurance information and personal details with the Revenue Department. 

Those having their health and lives insured for a total of 100,000 baht or less per year will be entitled to tax deductions. The sharing of insurance information will extend to other types of insurance in the future to further accommodate tax payers. 

OIC Secretary-General Suthipol Thaweechaikarn said today the information being shared with the Revenue Department will be done under a secure system to prevent any information from leaking to a third party. 

 

 

-- nnt 2018-10-06

 

 

Excellent news, every little helps