A draft Royal Decree, approved by the Thai Cabinet on 18 May 2021, extends the period for tax relief benefits allowed for donations of medicine and medical supplies imported to treat and to counteract the spread of the coronavirus (COVID-19) for public charitable purposes.
The tax relief is available regarding:
- Imports of supplies used for the treatment of, diagnosis of or protection against COVID-19—such imports are exempt from value added tax (VAT) if donated to certain institutions such as medical institutions and certain public charities.
- Corporate income tax and VAT exemptions are provided for companies or juristic persons for donations of medicine and medical supplies, provided that the cost of the donated supplies is not included as a deductible expense for purposes of computing corporate income tax.
Source KPMG
