End of year shopping tax break approved


The Cabinet of Ministers has approved tax breaks for residents of Thailand from 15 to 31 December. These measures are aimed at stimulating the domestic market during the season of Christmas and New Year holidays, as well as the traditional high demand for shopping.

The essence of the project is that every resident of Thailand shall have the right to receive a tax refund on shopping expenses up to 15,000 baht, depending on their income-tax rate.

Offer is not valid for the purchase of alcoholic beverages, beer, wine, tobacco, vehicles, motorcycles, ships, or fuel for vehicles and vessels.

The government expects that this project will collect an additional 20 billion baht and add 0.2% to Thailand's gross domestic product (GDP) growth this year.

In addition, in November 2016, the government approved an additional project on the promotion of tourism, including getting a tax refund of up to 15,000 baht for domestic tour packages and hotel accommodation for a particular group of taxpayers.

The measures are intended to encourage people to spend the holidays in the country rather than abroad, and thus to support the economy of their country.

Source: bangkokpost.com