Bangkok (VNA) - The Thai government hasdecided to waive personal income tax for foreign actors when working inThailand in the next five years, in a fresh bid to attract foreign crews to thecountry.
Deputy Government Spokesperson Rachada Dhnadirek saidon June 21 that the tax incentive is part of the government’s efforts todevelop the country’s soft power.
Thailand earned an average of 3.5 billion THB a year from foreign film crewsfrom 2017 to 2021, with the revenue increasing to 5 billion THB last year.
Incentives provided to foreign film crews include cash rebates of 15-20% of theexpenses incurred in Thailand, with limits capped at 75 million THB, saidRachada adding that actors have been required to pay personal income tax whilethey were working in Thailand, despite the fact that they have to pay personalincome taxes in their home countries as well.
With the income tax exemption, Thailand expects togain an average of 3.5 billion THB in revenue per annum from foreign film crewsover the next five years, totaling 17.5 billion THB, while the amount ofrevenue lost through the tax exemption for the same period will be about 71.75million THB./.
Deputy Government Spokesperson Rachada Dhnadirek saidon June 21 that the tax incentive is part of the government’s efforts todevelop the country’s soft power.
Thailand earned an average of 3.5 billion THB a year from foreign film crewsfrom 2017 to 2021, with the revenue increasing to 5 billion THB last year.
Incentives provided to foreign film crews include cash rebates of 15-20% of theexpenses incurred in Thailand, with limits capped at 75 million THB, saidRachada adding that actors have been required to pay personal income tax whilethey were working in Thailand, despite the fact that they have to pay personalincome taxes in their home countries as well.
With the income tax exemption, Thailand expects togain an average of 3.5 billion THB in revenue per annum from foreign film crewsover the next five years, totaling 17.5 billion THB, while the amount ofrevenue lost through the tax exemption for the same period will be about 71.75million THB./.
VNA
