Tax Deduction for Educational Institutes

To encourage literacy, the Revenue Department has provided a tax deduction for donations to a government educational institute, private school or university for the purchase of books or electronic reading materials.

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The deductible amount allowed is as follows:

  • Individual: double deduction of the actual amount but not exceeding 10% of the assessable income after deductions and allowances.
  • Corporate: double deduction of the actual amount of money or assets donated but not exceeding 2% of the net profit.

Other educational donations will also be included when calculating the total amount eligible for deduction.