Songkran Tax Deduction – Infographic

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Songkran Tax Deduction – Infographic
Written by Interactive Associates

BANGKOK: -- In effort to increase domestic spending during the festival of Thai New Year – Songkran, the Thai government rolled out an incentive program allowing individual persons to deduct certain expenses from their total taxable income for the year of 2016.

Those who spend money on food & beverage, travel packages and accommodations between the dates of 9th – 17th April will be allowed to subtract up to 15,000 THB from their tax base and thus reduce the personal income tax. The businesses providing such services have to be, however, registered for VAT.

Everyone who wishes to take advantage of this program is obligated to collect accurate tax invoice under their full name, address and ID number (for foreigners this will be their Thai tax ID).

Full story: http://www.interactivethailand.com/accounting/songkran-tax-deduction/

-- INTERACTIVE THAILAND 2016-04-11