Revenue Dept announces tax incentives to promote reading
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Individuals and companies are eligible to tax deduction upto 200 per cent of the value of donated reading materials or upto 10 per cent of taxable income, according to the Revenue Department.
The incentives are to support the government's policy to create life-long learning society through reading, said Chitmanee Suwannapool, deputy director-general. The tax incentives would draw supports from the private sector in promoting reading, she added.
The incentives covered the donation of books or electronic reading stuff to libraries or other reading centres, which serve school and university students as well as the general public.
The 100 per cent deduction is also announced for items going to corporate libraries. Each accounting year, the spending eligible for the tax deduction must not exceed Bt50,000.
