Tax Relief for Donations to National Disasters
Donations made in response to the recent Japanese earthquake and tsunami and the severe flooding in 2010 in Thailand will be eligible for tax relief.
Keywords: Thailand, Tax, Revenue Department, Japan Earthquake and Tsunami, Donations
The Thai Revenue Department has announced that both individual and corporate donations made through authorised agencies can claim the following deductions:
- Individual: actual amount but not exceeding 10% of the assessable income after deductions and allowances.
- Corporate: actual amount but not exceeding 2% of the net profit in the year of making the donation.
In addition, the donation of assets or goods by a company will not be considered as a vatable sale.
Sources:
Japan - www.rd.go.th
Flooding - www.ratchakitcha.soc.go.th
Authorised agencies - www.rd.go.th
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