Mazars payroll flash news - January 2023
A tax deduction for individual taxpayers of up to 40,000 baht when purchasing goods or services between 1 January and 15 February 2023
5 January 2023
On 29 December 2022, the Royal Gazette published Ministerial Regulation No. 386 to stimulate spending by encouraging individual taxpayers to purchase more goods or services from businesses registered for VAT, including books, e-books, and OTOP products from businesses not registered for VAT, between 1 January and 15 February 2023. Taxpayers can deduct an amount up to that actually paid, but no more than 40,000 baht, for the 2023 tax year.
Readers should also note the following:
- Expenses for petrol can also be claimed
- The first 30,000 baht to be claimed can be from either paper or electronic tax invoices/receipts
- The remaining 10,000 baht can be claimed from electronic tax invoices/receipts only
However, some goods or services, such as cigarettes, alcoholic drinks, newspapers, magazines, e-newspapers, e-magazines, cars, motorcycles, boats, travel packages, accommodation, utility bills, and insurance premiums are NOT tax deductible.
For more information, see Ministerial Regulation No. 386 (in Thai)
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