The Thai government has approved a tourism tax that will allow people and businesses to deduct tourism expenses from their annual tax payment, advises BSA Law.
Online PR News – 15-December-2014 – Thailand – Bangkok, 1 December, 2014 – The measure approved in October means private individuals and businesses will be eligible for tax deductions on expenses until 31 December 2015.
It’s hoped the tourism tax will stimulate domestic tourism. Government spokesman Yongyuth Maiyalap said individuals who buy local package tours or hotel accommodation will be able to list the purchases as deductible expenses against their taxable income for the year. The deductible amount is set at no more than THB15,000.
Businesses, he said, will be able to use the tax break to provide residential training programs for employees. The expenses for such programs would be tax free.
The measures were to come into force once being published in the Royal Gazette.
Yongyuth said the tax break would cost the government THB1 billion in lost tax revenue, but it could generate THB3 billion for the Thai tourism industry.
“This is an important move by the government that businesses and people should be aware of” said Apisakdi Kongkangwanchoke, spokesman for BSA Law, a leading international law firm in Thailand.
Accounting, auditing and tax consulting is among the various legal services and advice BSA Law provides to foreigners and Thais. This also includes Thailand work permit and visa processes, Thai labour law issues and Thai law in general, starting a business in Thailand and other investment advice.
A number of foreigners working in Thailand use the services of a law firm such as BSA Law to help them file their yearly personal income tax return, which Thai law requires them to do so the same as their Thai colleagues.
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For over 30 years, Bamrung Suvicha Apisakdi Law Associates (BSA Law) has focused on providing reliable legal advice and services to the Thai and foreign business community in Thailand. BSA Law seeks to provide international standards of legal services while retaining the customs of the Thai business culture.
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