Revenue dept offers tax deduction pension-life assurance buyers

The Revenue Department offers tax deduction up to Bt200,000 for those who buy pension-life assurance policies.
The department  said on Wednesday  it wanted to promote  long  term savings so the tax  deduction for pension-life assurance holders  will increase from Bt100,000 offered earlier.
However, a combined  tax deduction on pension-life assurance,  contribution to private provident fund, retirement mutual fund and Government Pension Fund  would be limited at Bt500,000 per year.
Tax payers who last year bought  life-insurance product could apply from tax deduction this year.