Guidelines for Claiming Tax Deductions:Flood Case

The Revenue Department has provided further explanations and guidelines for individuals claiming tax deductions for repairs and maintenance of immovable properties and vehicles damaged by floods during the period 29 July 2011 to 31 December 2011.

Keywords: Thailand, Tax, Floods, Revenue Department, Tax Deductions

For the repairs and maintenance of immovable properties damaged by the floods including houses, buildings or apartments and its fixtures, the individual owner, lessee or the users of such properties will be eligible to deduct expenses for repairs of such properties from their taxable income to a maximum of Baht 100,000.

For the repairs and maintenance of vehicles, the owners or lessees located in flooded areas can claim tax deductions for the repairs and maintenance up to a maximum of Baht 30,000.

Individuals can claim the tax deductions for the repairs and maintenance in the year the payments were made but the total deduction shall not exceed the maximum amount.

In order to claim the tax deduction, the individual must have the following documentation:

  • Evidence to prove ownership or having the right to lease (or having a right to use those immovable properties); and
  • Receipts or any other documents proving that the individual paid for the repairs and maintenance (i.e. indicating the name of the recipient, payer, date of payment, amount of payment with a list of transactions and the recipient’s signature on the document).

Source: http://www.rd.go.th/publish/fileadmin/user_upload/kormor/notice_100255.pdf

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