The cabinet has approved a range of measures on the 4th of February to boost the Thai economy. The first measure allows people to file their tax returns three months later than the usual date of March end.
The cabinet approved an additional 50% tax deduction for the improvement of properties of hotel operators. Repair work and general maintenance will not be applicable. The additional tax deduction will run from 1st January 2020 to 31stDecember 2020.
The cabinet also approved an additional 100% additional deduction for corporate entities for accommodation and travelling expenses, to help boost the domestic tourist market. This will include all expenses paid for accommodation, transportation and other expenses relating to seminars and training. The additional tax deduction will run from 1st January 2020 to 31st December 2020.
Other measures approved included a 150% additional deduction for investment in new machinery. The measures will not apply to corporate entities who are leasing such machinery.
Further tax measures to boost the economy are still being considered and we will keep you up to date with the latest news as it emerges.