Global Daily Tax News, Thai Tax Breaks Announced For Returning Graduates, (Aug 5, 2024)

The Thai Government has announced plans to offer tax relief measures to encourage Thai graduates to return to the nation for work.

Thailand's Cabinet has agreed to offer a maximum concessionary 17-percent rate of personal income tax on employment income, providing the taxpayer has at least a bachelor's degree, has worked overseas for at least two years, and returns to Thailand to work before the end of 2025.

They must work for entities that are engaged in target industries in accordance with the law on enhancing the country's competitiveness, the law on the promotion of investment, or the law on the Eastern Special Development Zone.

Corporate tax reliefs will be offered to companies and juristic partnerships who employ returning Thai workers. They may benefit from an additional corporate tax deduction worth 50 percent of salaries paid to returning workers, from the date the law becomes effective, which will be the date on which the law is published in the Official Gazette.

The tax relief will be available until December 31, 2029.