Mon, November 29, 2021

in-focus

Tax break campaign begins with extra incentives


A 23-day national shopping promotional campaign kicked off yesterday, allowing consumers to get a tax break on purchases worth up to Bt15,000 per individual.

The campaign, which ends on December 3, requires shoppers to get proper value-added tax (VAT) receipts to qualify for the deduction of their personal income tax payment as the government aims to boost the economy with robust year-end spending.
Major shopping centres such as Siam Paragon, Siam Centre and Siam Discovery said they would also offer additional gift vouchers worth Bt500 each to the first 1,500 customers who shop at these establishments during the period.
Robinson department stores said customers would get a Bt150 gift voucher for purchases of Bt8,000 and a gift voucher of Bt300 for those above Bt15,000 on top of the government's tax incentive.
Central Food Retail said customers would be entitled to gift vouchers of Bt200-1,000 on purchases worth Bt5,000-10,000, while Tesco Lotus said its year-end sales during November and December are forecast to account for 30 per cent of the retail chain's whole-year sales, partly due to the national shopping campaign.
The tax deduction on purchases of up to Bt15,000 is based on an individual’s personal income tax rate, so if you buy Bt15,000 and you are paying the 10 per cent tax rate, the deduction is Bt1,500.
 

Published : November 11, 2017

By : The Nation