Cabinet OKs tax break of 15,000 baht shopping spending

 

 

BANGKOK: -- The cabinet on Tuesday approved tax break for shopping spending or spending on services during the festive season between December 14-31.

 

The tax break means that taxpayers can deduct up to 15,000 baht from their taxable incomes so that they will pay less income taxes. As such, they will have saved from 750 baht up to 5,250 baht in taxes for the 15,000 baht shopping spending, depending on their taxable incomes.

 

Mr Kobsak Phutrakul, assistant minister to the Prime Minister’s Office, said the government expected that the tax break would help boost spending during the festive season before yearend.

 

Shopping spending for the following items will not be eligible to tax break namely liquor, beer, tobacco, fuel oil and gas for vehicles and vessels.

 

Full story: http://englishnews.thaipbs.or.th/cabinet-oks-tax-break-15000-baht-shopping-spending/

 

-- © Copyright Thai PBS 2016-12-14

Tax incentive tipped to spur Bt20 billion in retail spending
By THE NATION

 

 

BANGKOK: -- THE GOVERNMENT’S tax break for year-end shopping approved by the Cabinet yesterday is expected to generate extra spending of Bt20 billion in the retail sector, on top of earlier tax incentives for domestic tourism aimed at boosting the sluggish economy, according to Tourism and Sports Minister Kobkarn Wattanavarangkun.

 

She said tourists were among the biggest shoppers for gifts during the holiday season, so the tax incentive, effective from today through December, should give a powerful boost to both tourism and retail spending in this period. 

 

For those living in Thailand, each person is entitled to get a tax refund on shopping expenses of up to Bt15,000 depending on his or her income-tax rate. But the tax incentive does not apply for alcoholic beverages, cars, motorcycles, boats or fuel.

 

Full story: http://www.nationmultimedia.com/news/national/30302055

 

-- © Copyright The Nation 2016-12-14

With tourists flooding at twice the numbers of the previous year, I fail to see how the economy is sluggish...who do you believe, the MoT&S or the MoT&S??? 

34 minutes ago, webfact said:

But the tax incentive does not apply for alcoholic beverages, cars, motorcycles, boats or fuel.

Dammit, honey, cancel the order for the yacht...

Save your Macro/Tops grocery receipts and deduct tax paid from your tax return when you reclaim tax on your bank deposits.

1 hour ago, PatOngo said:

With tourists flooding at twice the numbers of the previous year, I fail to see how the economy is sluggish...who do you believe, the MoT&S or the MoT&S??? 

And  the  Issan yaba maids    article  claiming "tough economic  times"

Im confused...

She said tourists were among the biggest shoppers for gifts during the holiday season, so the tax incentive, effective from today through December, should give a powerful boost to both tourism and retail spending in this period. 

Great so as a Tourist I can claim tax back...
 
For those living in Thailand, each person is entitled to get a tax refund on shopping expenses of up to Bt15,000 depending on his or her income-tax rate.

.... as long as I live in Thailand & pay income tax.



You couldn't make it up