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Thailand MOF Explains Tax Incentives Due to Coronavirus

May 28, 2020, 5:00 AM

The Thai Ministry of Finance May 25 explained tax incentives due to the coronavirus pandemic. The explanation includes: 1) legal entities with an annual income of less than 500 million Thai baht (US$15.7 million), employing under 200 employees can deduct 1.5 times their interest expenses incurred from April 1 to Dec. 31; 2) the increase in personal income tax health contribution deductions to 25,000 baht (US$783) from 15,000 baht (US$470); and 3) health contribution deductions combined with life insurance premiums and deposits can’t exceed 100,000 baht (US$3,135). [Thailand, Ministry of Finance, 05/25/20]

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