Tax Breaks Approved for Foreign Actors in Thailand

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BANGKOK (NNT) - As part of efforts to attract international film productions, the Cabinet has agreed to exempt foreign actors from paying personal income tax for up to five years.

 

Foreign film productions contributed some 5 billion baht to the Thai economy in the past year alone and figures have been steadily rising. From 2017-2021, the average annual revenue from foreign film productions was approximately 3.5 billion baht.

 

According to Deputy Government Spokesperson Rachada Dhnadirek, the government has introduced rebates for expenditures of up to 75 million baht as an incentive for foreign film productions. While personal income tax waivers for foreign actors is expected to cost the country 71.75 million baht over the next five years, foreign film productions are projected to generate around 17.5 billion baht over the same period.

 

-- © Copyright NNT 2022-06-22

 

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