Is it possible for a Thai Citizen to deduct interest rates of a loan taken from a foreigner living abroad from his income tax -assuming the Thai Citizen is running a business and making a living from it (claim the paid interest as expenses)? If so, which documents / evidence are needed to claim deduction of taxes?

Would it make a difference if the loaner is a foreigner living in Thailand?

Tks in advance!

Fraserman

Moved to business section.