Cabinet has approved several tax measures to stimulate thai economics.

On 21 January 2009,Thai
Cabinet has approved several tax measures to stimulate thai economics
during the economics crisis.  

Summary of key tax measures,effective retrospectively on January 1, 2009, follows :

1.
Increase of the minimum assessable income (other than salary income)
for individuals or a group of individuals that is subject to 0.5%
income tax from THB 60,000 to THB 1 million. The individuals or group
of individuals who earn less than THB 1 million would not be subject to
income tax.

2.
Increase amount of assessable income that is exempt for corporate income tax from THB 1.2 million to THB 1.8 million for the income
earned in 2009 and 2010.

3. Extension of tax privileges to venture capital funds which invest in Small-Medium Enterprise(SME) for another 3 years to 2011.

4.
Increase tax privileges to individuals who buy houses this year from allowance deduction of THB 100,000 of interest to exemption of
THB 300,000 of principle paid in 2009.

5. Double deduction of expenses paid in 2009 for hosting seminars at domestic tourist destinations.

6. Extension of tax privileges on the restructuring of debts incurred from mergers and acquisitions by another year.

7.
Exemption of VAT, SBT, stamp duty and reduction of registration fee for
land transfer to public company or company limited on partial transfer
of business which is complete in 2009.

All of these  tax measures will be effective only after the finance ministry issue the royal decree or publish ministerial  regulations respectively.