Bangkok (VNA) - The Thai government has decided to waive personal income tax for foreign actors when working in Thailand in the next five years, in a fresh bid to attract foreign crews to the country.

Deputy Government Spokesperson Rachada Dhnadirek said on June 21 that the tax incentive is part of the government’s efforts to develop the country’s soft power.

Thailand earned an average of 3.5 billion THB a year from foreign film crews from 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 the expenses incurred in Thailand, with limits capped at 75 million THB, said Rachada adding that actors have been required to pay personal income tax while they were working in Thailand, despite the fact that they have to pay personal income taxes in their home countries as well.

With the income tax exemption, Thailand expects to gain an average of 3.5 billion THB in revenue per annum from foreign film crews over the next five years, totaling 17.5 billion THB, while the amount of revenue lost through the tax exemption for the same period will be about 71.75 million THB./.
VNA