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Tax measures to boost domestic consumption

On 12 October 2020, the cabinet approved a draft Ministerial Regulation on tax measures to boost domestic consumption.

Here is the summary of tax measures to boost domestic consumption.

  • Individual persons (not partnerships and groups of persons) are entitled to a personal income tax allowance of up to THB 30,000 for spending on domestic goods and services during the period from 23 October 2020 to 31 December 2020;
  • Persons who have received stimulus package benefits under the government welfare card holder scheme and the 50-50 co-payment scheme are not eligible for this allowance.
  • Expenditure on the following goods and services cannot be claimed:
    1) Liquor, beer and wine
    2) Cigarettes
    3) Gasoline and gas for vehicles
    4) Cars, motorcycles and boats
    5) Newspapers and magazines, whether in printed or electronic form
    6) Services provided by tour operators
    7) Hotel room accommodation

Further details of criteria, procedures and conditions will be prescribed by law shortly.

EY Corporate Services Limited has kindly provided this information to us. For more information, please contact Khun Yupa Wichitkraisorn (Partner) or Khun Kamolrat Nuchitprasitchai (Partner) at +66 2264 9090.