Clause 1 of this announcement:”Foundation” means(1) Chulabhorn Foundation(2) Phattharamaharatchanukun Foundation under the royal patronage of Her Royal Highness Princess Chulabhorn Walailak, Royal Princess of Thailand(3) Cancer Hospital Foundation, Siriraj Hospital(4) Children’s Hospital Foundation(5) Phramongkutklao Hospital Foundation under the royal patronage of Her Majesty Princess Maha Chakri Sirindhorn, Princess of Thailand(6) Ratchawithi Hospital Foundation(7) Hot Region Medical Science Hospital Foundation under the royal patronage of Her Royal Highness Princess Galyani Vadhana, Princess of Naradhiwas Rajanagarindra(8) Somdej Phra Nangcitta Hospital Foundation, Royal Thai Navy, under the royal patronage of Her Majesty Queen Sirikit(9) Suan Dok Hospital Foundation, Faculty of Medicine, Chiang Mai University(10) Neurological Institute Support Foundation(11) Somdej Phra Pin Foundation(12) Siriraj Foundation
Clause 2…2Clause 2: Individuals who are eligible for income tax exemption for donations to the Thai Red Cross Society or foundations as specified in Section 4 (1) of the Revenue Code Concerning Tax Exemptions (Version 771) B.E. 2566 shall donate in cash only.
Clause 3: Companies or juristic partnerships that are eligible for income tax exemption for donations to the Thai Red Cross Society or foundations as specified in Section 4 (2) of the Revenue Code Concerning Tax Exemptions (Version 771) B.E. 2566 may donate in cash, assets, or goods. In the case of donating assets or goods, it must comply with the following criteria and conditions:
(1) In the case where a company or juristic partnership purchases assets for donation, there must be evidence of the acquisition of assets, which specifies the quantity and value of the assets. The value specified in the evidence shall be considered as the value of the donation expenditure.
(2) In the case where a company or juristic partnership donates assets recorded in its asset account, the remaining cost after deducting depreciation and impairment of the assets shall be considered as the value of the donation expenditure.
(3) In the case where a company or juristic partnership donates goods, whether they are self-produced or purchased for resale, the value specified in the evidence that can be substantiated shall be considered as the value of the donation expenditure. However, the specified value shall not exceed the remaining selling price as per Section 65 (6) of the Revenue Code.
(4) The value of the assets or goods purchased for donation shall not exceed the fair market value. This shall be determined in accordance with Section 65, paragraph (15) of the Revenue Code.
Clause 4: Donations to the Thai Red Cross Society or foundations shall use donation data from the Electronic Donation System as the basis for claiming income tax, value-added tax, specific business tax, and stamp duty exemptions, as per Section 4 and Section 7 of the Revenue Code Concerning Tax Exemptions (Version 771) B.E. 2566. Persons exercising the right to claim tax exemptions do not need to provide documentation to revenue officials.
Source: rd.go.th
