Revenue Dept - Tax exemption for co-pay, We Travel Together users

Revenue Dept - Tax exemption for co-pay, We Travel Together users

BANGKOK (NNT) - Following reports that the Revenue Department will incorporate income generated by the half-half co-payment scheme, which offers a subsidy of 3,500 baht, and the We Travel Together campaign, which offers a 40-percent discount on hotel rooms as well as food coupons of up to 900 baht per day, in the calculation of personal income tax for 2020, many people are concerned that they will be subject to a fine if they fail to specify these income sources in the filing.

The Advisor on Strategic Tax Administration, Sommai Siriudomset, as Spokeswoman for the Revenue Department, said eligible applicants of the co-pay scheme and the We Travel Together campaign do not have to pay tax on the benefit. They do not have to be worried because the department is currently drafting a ministerial regulation that will grant tax exemptions. The draft will be submitted to the cabinet ministers before it can be enforced. The submission is expected soon.

The Spokeswoman for the Revenue Department said the cabinet ministers and the Ministry of Finance already agreed that people receiving governmental financial assistance are exempt from personal income tax on it. The Revenue Department was to submit the draft regulation, but the measures had been extended many times. As a result, the draft has to undergo revisions before it can be proposed to both the cabinet and the Ministry of Finance.

Personal income tax exemption for the 2020 tax year can be filed from January 1 to March 31 this year. Income received in the 2021 tax year must be filed in the 2022 tax return.