BANGKOK, 2 December 2016: Kasikorn Research Centre says a THB15,000 tourism tax break effective this December should generate an additional income of THB2,000 to THB4,000 million for domestic tourism.

The bank’s think-tank unit said domestic tourism was crucial for the country’s economy  and the market should generate around THB800,000 million, or a share of 5.7% of the gross domestic product (GDP).

The Cabinet approved, Tuesday, a tourism stimulus package that offers Thai citizens a THB15,000 tax break.

AA024399It kicks in when travellers purchase a domestic tour package, or hotel accommodation, during December and can be claimed in annual tax returns filed in late March for 2016.

The measure came into effect Thursday, 1 December and expires at the end of the year.

Travellers can only base their tax claim against official invoices and billings for travel and hotel services that are registered.

The Cabinet also agreed to reinstate hotel accommodation as a tax deductible item until the end of this year after the ruling expired 31 December, last year. The maximum deduction is also THB15,000 per person and must be supported by invoices from hotels that are registered  to offer hotel services.

Travellers have the right under the two schemes to deduct up to THB30,000 from their 2016 tax returns.

The bank estimates that the stimulus measure would help to generate an additional income for domestic tourism of around THB2,000 to THB4,000 million compared the same period last year when no tax breaks were available.

The centre forecasts that tourism revenue could reach THB82,000 to…

Source link

About the author

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Sign Up for Our Newsletter

Get notified of our weekly selection of news

You May Also Like

Bangkok best city in Asia for expatriates to live and work

Valencia (1st), Dubai (2nd), and Mexico City (3rd) are the top 3 destinations in the Expat City Ranking 2022 by InterNations, the world’s largest expat community with over 4.5 million members.

Thai Airways drops to 46th position in 2022 Skytrax World Airline Awards

Qatar Airways has been voted the World’s Best Airline for a record seventh time at the 2022 World Airline Awards, winning the prestigious Airline of the Year 2022 title.

Thailand Anticipates Speedy Recovery of Air Travel

he Thai aviation industry is set to handle even more flights next year when China’s tough Covid requirements are eventually lifted.