Revenue Department News

November 20th, 2018

The Revenue Department cooperates with Office of Insurance Commission(OIC) to link tax allowance data in order to facilitate health insurance policyholders.

Dr. Ekniti Nitithanprapas, Director-General of the Revenue Department, co chaired the meeting with Dr. Suthiphon Thaveechaiyagarn, the Secretary General of Office of Insurance Commission to publicize tax measures for promoting health insurance for income earners at Pra-utain 1 Hall, the 2nd floor of the Revenue Department.
Dr. Ekniti Nitithanprapas, Director-General of the Revenue Department, revealed that, “The Revenue Department has a policy to apply digital technology in all working processes (Digital Transformation) in order to increase efficiency in tax administration, as well as develop “excellent taxpayer services of the Revenue Department” in terms of linking tax allowance data from outside organizations such as dividend data, donation data, health insurance premium data, etc. This can reduce the burden of taxpayers in keeping all tax allowance documents and enhance the cooperation of external organizations and services of organizations in the government sector. During the transition period, the Revenue Department facilitates all e-filing taxpayers with tax refund requests so that they can upload supporting documents for tax allowance purposes to the Revenue Department. They do not need to keep and submit their documents to the Revenue Department later when the Department conducts tax refund audit.”
Dr. Ekniti Nitithanprapas, Director-General of the Revenue Department, further added that “This meeting is an excellent cooperation among many organizations: Office of Insurance Commission, The Thai Life Assurance Association, Thai General Insurance Association, life insurance companies, and non-life insurance companies to drive tax measures that promote health insurance. Furthermore, in 2019 and 2020, the Revenue Department will link data with Office of Insurance Commission and other related agencies in order to ensure faster tax refunds. Such data includes life insurance premium data, health insurance premium data for parents, and annuity insurance premium data.”
Dr. Suthiphon Thaveechaiyagarn, the Secretary General of Office of Insurance Commission, stated that “Office of Insurance Commission supervises the insurance industry and promotes efficiency, transparency, credibility, and protection to ensure that all citizens receive full and fair insurance benefits. Office of Insurance Commission’s performance runs in accordance with government’s policies, under the Insurance Development Plan No.3 (B.E.259-2563). The Commission emphasizes on promoting insurance as a tool in managing risks and in providing life and asset stability to all citizens in a suitable manner. This can relieve the government’s burden on social welfare, social security, and maintaining sustainable economic growth.
“Therefore, Office of Insurance Commission aims to promote the development of differentiated insurance products that conform to the risks and respond to insured’s needs so that they can have excellent saving plans to support their financial risks such as health care expenses or aging care costs. The Office supports tax measures that enable the following insurance products to meet the above mentioned risks; namely, life insurance, health insurance, annuity life insurance, and health insurance for parents. A taxpayer can deduct his insurance premium as his income tax allowance as prescribed by the tax law. In order to support the taxpayer’s use of tax allowance, Office of Insurance Commission has instructed the registrar to modify the application forms and the explanation on the forms by adding questions about insurance policies that are eligible for income tax allowance and about the insured’s permission to submit and disclose his personal data. This will benefit citizens who are eligible to deduct their health insurance premium as personal income tax allowance without submitting the insurance payment documents when they file their personal income tax return.
“In the future, Office of Insurance Commission and the insurance industry will cooperate with the Revenue Department in utilizing innovation to link data from various units in order to provide faster and convenient services, streamline processes and eliminate redundancy in data submission which will enable efficient, safe and confidential data linkage for the mutual benefits of all sides.”
For further enquiries, please contact the RD Intelligence Center at Tel. 1161 or Office of Insurance Commission hotline 1186.