Another tax package for Cabinet approval
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Finance Minister Thirachai Phuvanatnaranubala said today a new tax package for flood victims both firms and individuals would be submitted for the Cabinet's approval within one or two weeks.
In the package, the Finance Ministry will offer tax allowance for machine depreciation up to 125 per cent of machine value, from normal rate of 100 per cent. Eligible firms are those buying new machinery to replace the one damaged by floods.
Meanwhile, households can get tax deduction for home repair up to Bt100,000 each. Those who had their damaged vehicles fixed could get tax deduction up to Bt30,000 each, Thirachai said.
Individual flood victims must present home or car repair bills to the Revenue Department for the allowance entitlement, he added.
