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TAX Deduction 2019

The government has issued a tax deduction measure for people who buy products for education and sports including books and eBooks.

Taxpayers who spend up to 15,000 baht on uniforms, sports equipment and textbooks for students can deduct such spending on one product group from personal income for the 2019 tax year.

In the case of a tax deduction for the purchase of books and eBooks, the key evidence is tax invoices because they must be purchased from VAT registered operators only. The educational equipment includes stationery, clothes, school uniforms, shoes, and socks, but does not include electronic products. The products can be purchased from April 30 – June 30, 2019. Taxpayers must submit a personal income tax deduction form for 2019 to get a tax rebate according to the actual payment up to, but not exceeding 15,000 baht.

For the tax deduction on the purchase of books and eBooks, the key evidence is receipts or tax invoices. Should the bookstores have VAT registration for other businesses, the receipts or the invoices have to contain complete details of buyer and seller. The maximum outlay of 15,000 baht on books and eBooks also includes the purchase of books under the shopping tax break campaign launched earlier this year.

Taxpayers can exercise their right to a tax break until December 31, 2019.

The measures are aimed at reducing the financial burden on families. The amount of the tax refund depends on the income level and tax rates applying to the parents.

In cases where the parents’ monthly income is no more than 24,833 baht, it isn’t necessary to exercise the tax deduction rights because they are already at a tax-exempt threshold.

However, the tax deduction rights are considered a tax benefit that not only allows taxpayers to pay less tax but might even allow them to be entitled to a higher level of tax refund.

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