The Revenue Department Issues Tax Measures for Home and Vehicle Repair to Assist Flood Victims
- Admin
- Dec 13, 2024
- 1 min read
Date of Press Release:November 29, 2024
The Cabinet, on November 29, 2024, approved tax measures for home and vehicle repair to alleviate the financial burden of repairing properties damaged by floods* since August 16, 2024.
Mr. Pinsai Suraswadi, Director-General of the Revenue Department, stated:"The Ministry of Finance, through the Revenue Department, recognizes the hardship faced by individual income taxpayers affected by the floods. With the flood situation now improving, many people urgently need to repair properties damaged by the disaster. Therefore, the Ministry has proposed the draft Ministerial Regulation No. … (B.E. …) under the Revenue Code on tax exemptions. The details of the tax measures for home and vehicle repair are as follows:
Tax Measures for Home RepairIndividual taxpayers (excluding ordinary partnerships or groups of persons) may deduct actual home repair expenses incurred between August 16, 2024, and December 31, 2024, up to a maximum of 100,000 THB. The damaged home must be located in an area declared by the government as a disaster-affected zone or an emergency disaster assistance zone.
Tax Measures for Vehicle RepairIndividual taxpayers (excluding ordinary partnerships or groups of persons) may deduct actual vehicle repair expenses incurred between August 16, 2024, and December 31, 2024, up to a maximum of 30,000 THB. The damaged vehicle must be located in an area declared by the government as a disaster-affected zone or an emergency disaster assistance zone."
For further inquiries, please contact any Revenue Department office nationwide or the RD Intelligence Center at 1161.
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