Govt launches cashback scheme for taxpayers as New Year’s gift | “Shop Dee Mee Kuen” Scheme

The Cabinet approved a new phase of the “Shop Dee Mee Kuen” (Shop and Payback) scheme as a New Year’s gift for Taxpayers in Thailand.

The Cabinet approved a new phase of the “Shop Dee Mee Kuen” (Shop and Payback) scheme as a New Year’s gift for Taxpayers in Thailand.

💰Shoppers would be able to claim income tax rebates on up to 40,000 baht of purchases between Jan 1 and Feb 15 next year.

The good news is that most types of products are eligible: clothes, accessories, cosmetics, medicine, food supplements, food, and beverages. Knock yourself out. Electronics, furniture or IT swag (i.e. laptop and smartphone) can also be purchased to ease that tax pain.

Over the years, the maximum tax break has grown from THB15,000 in 2017 to today’s THB40,000.

Shoppers must save receipts and collect tax invoices from VAT-registered businesses. That means asking for a tax invoice after making a purchase, and hanging onto it to file with your taxes by the tax deadline. Always make copies.

❌Products and services not included are spirits, beer, wine, tobacco, cars, motorcycles, boats, hotel costs, tour guide fees, utility bills including telephone and internet as well as insurance premiums.

And understand a tax deduction is not the same as a tax refund. , how much you can make tax reduction , it really depending on your tax bracket.

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