snoop1130 35459 Posted December 29, 2022 Share Posted December 29, 2022 BANGKOK (NNT) - Members of the Cabinet have approved a set of new tax measures that include special corporate tax exemption for eligible firms, individual income tax deductions, and tax measures to promote climate actions. Lavaron Sangsnit, Director General of the Revenue Department, said these measures include a new tax-exempt offer for Small and Medium-sized Enterprises (SMEs) facing a liquidity crisis, and businesses with restructured non-performing loans through the Office of SMEs Promotion. These measures are expected to cost 2.187 billion baht from the government’s revenue stream. For individual taxpayers, donations made to educational institutions can be counted towards personal income tax deductions twice the actual amount. These donations must be made via the Revenue Department’s e-donation platform from January 1st of 2022 until December 30th of 2024, and exclude donations made to non-formal educational institutions and private higher education institutions. The new measures will also offer tax benefits to engagements made by corporate and individual taxpayers on climate change. This includes tax exemption for companies’ net profit on domestic carbon credit sales, as well as a special personal income tax deduction from donations to the Royal Forest Department. These donations must be made via the Revenue Department’s e-donation platform from January 1st of 2023 until December 31st 2027. Source: https://thainews.prd.go.th/en/news/detail/TCATG221229094322064 -- © Copyright NNT 2022-12-29 - Cigna offers a range of visa-compliant plans that meet the minimum requirement of medical treatment, including COVID-19, up to THB 3m. For more information on all expat health insurance plans click here. Monthly car subscription with first-class insurance, 24x7 assistance and more in one price - click here to find out more! Quote Link to post Share on other sites More sharing options...
Tropicalevo 13601 Posted December 29, 2022 Share Posted December 29, 2022 Hmm. Tax breaks for the people in Thailand. I guess that there must be an election around the corner. Quote Link to post Share on other sites More sharing options...
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