Tax incentive for Justice Fund donors
Individuals or legal entities making financial donations to the Justice Fund will be entitled to a tax deduction worth up to two times the money donated, according to Prime Minister’s Office Minister advisor Natthaporn Jatusripitak.
The Cabinet meeting on Tuesday approved a draft royal decree on tax incentives to boost donations to the Justice Fund, he said. This important fund provides assistance to people who are facing prosecution and are in need of bail. It also helps provide legal knowledge to the public to boost their equal access to justice.
The tax deduction, when combined with the person’s donations to Education Ministry projects, must not exceed 10 per cent of the person’s assessable income after expenses and other deductions. For legal entities or companies, this tax deduction, when combined with education or park-maintenance donations, must not exceed 10 per cent of net profit before tax deductions from social charity.
This measure, which would slightly lower the country’s taxation income, would help lessen the state’s budgetary burden in supporting such projects.