Tuesday, 29 November 2016

THAILAND: Tourism Tax Deduction

The cabinet just approved tax measures to support domestic tourism during the last month of 2016. They have said that up to THB15,000 spent on domestic tourism per person this year can be used as a deduction from taxable income.

Adviser to the Minister of Commerce Nuttaporn Jatusripitak explained that the cabinet approved tourism tax exemptions of up to THB15,000. The measure was taken in light of state assistance to other sectors as well as in acknowledgement of the “high season” of increased domestic tourism, which starts in December.

Nuttaporn pointed out that Thailand’s tourism sector was somewhat depressed and the Commerce Ministry suggested tax waivers to spur spending and travel. The incentives will last from December 1 to 31 and will allow for personal tax exemptions for tourism of up to THB15,000.

Combined with other previously approved measures, citizens now can potentially receive tax deductions of up to THB30,000 for engaging in domestic tourism, since the previously announced THB15,000 tax deduction meant to spur end-of-year shopping can be applied to some travel-related expenses such as a new travel wardrobe, awesome camera or lobster by the seaside.