Tax deduction sought for donations on historical preservation
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Individual donations for historic preservation will be tax-deductible for a 3-year period, according to a Cabinet resolution on Tuesday.
Government spokesman Theerat Rattanasewee said today that the Cabinet approved the legal amendments to the tax laws.
This is to allow individuals to deduct upto 200 per cent of donations made, from their taxable income. The donations must be made during January 1, 2013 and December 31, 2016. Eligible for the deduction are donations to preserve historic sites and historical artifacts.
However, a condition is attached. Combined with education and sport-related donations, the amount must not exceed 10 per cent of the individual's taxable income in the year.
