Global

Details

  • Service: Tax, International Corporate Tax, International Executive Services, Global Compliance Management Services
  • Type: Regulatory update
  • Date: 6/21/2012

Thailand - Tax exemptions for “first car” purchases, trade-show expenses 

June 21:  An exemption from individual (personal) income tax is available for the purchase of a “first automobile” for an amount equal to the amount of excise tax on the car, for a maximum exemption of THB 100,000 (approximately U.S. $3,150). 

The exemption is available until 1 October 2012.


In Thailand, a measure promoting the sales of automobiles to individuals, measured by the amount of excise tax, typically would be treated as taxable income to the individual. Because there is no provision in Thailand’s income tax law that would exempt such amount from individual income tax, the exemption had to be approved by the Thai cabinet.


Also, the Thai cabinet extended an exemption from corporate income tax for amounts spent on trade exhibitions, whether located in Thailand or other countries. The corporate income tax exemption is available until 30 June 2012.


Read a June 2012 report, [PDF 166 KB], prepared by the KPMG member firm in Thailand: Recent Cabinet resolutions addressing tax exemption




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