Mazars Payroll Flash news - December 2023

A tax deduction of up to THB 50,000 for individual taxpayers when purchasing goods or services from VAT-registered entrepreneurs who use the electronic tax system between 1 January and 15 February 2024.

On 20 December 2023, Ministerial Regulation No. 391 was published in the Royal Gazette. The goal of this regulation is to stimulate spending by encouraging individual taxpayers to purchase more goods or services from businesses registered for VAT, including books and e-books, as well as OTOP products from businesses not registered for VAT, between 1 January and 15 February 2024. Taxpayers can deduct an amount up to that actually spent, but not more than THB 50,000, for the 2024 tax year.

Please note the following:

The amount of THB 50,000 can be claimed from electronic tax invoices/receipts only.
Expenses for newspapers, magazines, e-newspapers, e-magazines, travel packages, and hotel fees can be claimed.
Some goods or services, such as cigarettes, alcoholic drinks, petrol, cars, motorcycles, boats, utility bills, and insurance premiums are NOT tax deductible.

For more information, see Ministerial Regulation No. 391 and the FAQ (in Thai)