(Royal Thai Police photo)Flood victims will get a tax break on repair costs up to 100,000 baht while donors will enjoy a deduction equivalent to 1.5 times the donated amount. The Revenue Department on Thursday announced the details of its relief measures approved in principle by the cabinet on Tuesday. Victims can deduct from their taxable incomes actual repair expenses incurred from July 5 to Dec 31 this year but not more than 100,000 baht for homes and 30,000 baht for vehicles. Individual donors can also deduct the equivalent of 1.5 times the donated amounts from their taxable incomes for donations to flood victims between July 5 and Oct 31 this year. When combined with other types of donations, the total must not exceed 10% of their taxable incomes after expenses and deductions.

Source: Bangkok Post August 03, 2017 09:47 UTC