The Shop and Payback tax rebate scheme started yesterday as the government encourages Thai people to shop and help stimulate the economy late this year.
Shoppers who participate in the scheme are entitled to a tax deduction of up to 30,000 baht on purchases of goods and services on the condition that they are not the holder of the government welfare card and never join the co-pay scheme of the government.
Goods allowed in the tax rebate scheme must come from the operators who registered for the value-added tax (VAT) or the vendors who issue complete tax invoices.
They include One-Tambon-One-Products (OTOP), books and electronic books.
The tax rebate scheme does not cover liquor, beer, wine, tobacco, petrol, gas, cars, motorcycles, boats, tour guide services, hotel accommodations and some kinds of goods that are not subject to VAT such as fresh fruits, vegetables, meat, bullions, medical services and plastic surgery.
Spending for goods within Dec 31 can be deducted from taxable income for 2020 taxation. (TNA)
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