Details of tax package

Corporate

- Corporate income tax cut for newly listed companies in the Stock Exchange of Thailand (SET) from 30% to 25% for three accounting years

- Corporate income tax cut for newly listed companies in the Market for Alternative Investment (MAI) from 30% to 20% for three accounting years

- Corporate income tax cut for existing companies in the SET from 30% to 25% for profit below Bt300 million for three accounting years

- Corporate income tax cut for existing companies in the MAI from 30% to 25% for profit below Bt300 million for three accounting years

-Tax allowance for energy-saving machinery, equipment and installation at 1.25% of costs

-Depreciation allowance for machinery and equipment related to productions and services at 40% of costs on the delivery date

-Depreciation allowance for computer programs within three accounting years

Individuals

-Higher taxable income waive from Bt100,000 to Bt150,000

-Higher tax allowance for life insurance premium from Bt50,000 to Bt100,000

-Higher tax allowance for Retirement Mutual Fund (RMF) plus provident fund or pension fund contribution is raised from Bt300,000 to Bt500,000

-Higher tax allowance for Long Term Equity Fund (LTF) from Bt300,000 to Bt500,000

-Higher allowance for child, adopted child, spouse, and parents who are disable persons to Bt30,000

Property

-Cut the special business tax to 0.1% from 3%

-Cut transfer fee to 0.01% from 2%

SMEs

- Personal income tax waive for taxable income less than Bt1.2 million

-Corporate income tax waive for net profit below Bt150,000

The Nation