More tax deduction on education/research donation
Play
Corporate and individual taxpayers may be allowed to deduct their taxable income with donation for education and research purposes by upto three times of the donated amounts, said Deputy Prime Minister and Finance Minister Kittiratt Na-Ranong.
The exemption is now two times of donated amounts.
Kittiratt said on Thursday that the Revenue Department is revising the regulations to facilitate more donation for eduction and research purposes.
"The Revenue Department should rush on this issue so that the new rules could be enforced early 2013," he said.
Aside from higher deduction limit, the rules would also be amended to facilitate the donation. The list of research and development centres which could enjoy the tax-deductible donation would be completed.
Under the current rules, deduction is limited to the purchases of educational supplies and construction materials for school building construction. Under the new rules, all types of deduction would be deductible, including the fund to finance teachers' training.
