The Cabinet approved three tax measures to enhance economic growth: healthcare donation incentives, a domestic spending tax deduction, and reduced entertainment venue taxes, promoting recovery and public welfare.
New Tax Measures Approved
The Cabinet has greenlit three key tax initiatives aimed at promoting economic growth and national development. These measures focus on enhancing healthcare donation incentives, introducing a domestic spending tax deduction program, and reducing taxes for entertainment venues. Collectively, they are designed to support economic recovery while meeting public and industry needs.
Healthcare Donation Incentives
One significant measure expands tax exemptions for donations in the medical and public health sector. Individuals and businesses can claim double tax deductions for contributions made to 27 designated charities. From 2025 to 2027, donations of significant assets, including land and gold, will also be exempt from taxation, facilitating greater access to healthcare and driving medical innovation.
Boosting Local Spending and Tourism
The “Easy E-Receipt 2.0” program enables taxpayers to deduct up to 50,000 baht on eligible purchases during early 2025. This initiative is expected to attract around 1.4 million participants and generate around 70 billion baht in economic activity. Additionally, the excise tax for entertainment venues is halved to 5% until 2025, aiming to enhance cash flow and stimulate tourism spending.
Source : Thai Cabinet Approves Tax Initiatives to Stimulate Economic Growth
