Holiday shopping tax break campaign starts tomorrow

For those who have a long list of loved ones to shop for this holiday, great news!

Today, the government approved the good old holiday shopping campaign that will give shoppers a tax deduction starting tomorrow.

Kobsak Pootrakool, Vice Minister at the Prime Minister’s office, said the cabinet has decided to bring back last year’s campaign to boost spending during the holiday season.

The campaign will run from December 14 – 31. Each person can get a deduction of up to THB15,000 by presenting tax incentive forms issued by registered shops when they submit their annual personal income tax forms.

How much you will actually save depends on your income bracket. Check out our simple guide here.

Kobkarn said that approximately one million people took advantage of the program last year, which cost the state a total of THB1.2 billion in tax reduction. However, the campaign only ran for one week last year, therefore, they expect the number to double for 2016, Thairath reported.

 

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