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Bangkok Post
Bangkok Post
Business

E-donations to be given tax cut priority

Donations to education, sports and social development will only gain a double tax deduction if they are made via an electronic channel, said Vinit Visessuvanapoom, deputy director-general of the Revenue Department.

Currently donations made to these three areas via a traditional channel qualify for a double tax deduction, but the deductible amount would not exceed 10% of the donor's net income after expenses and tax deduction.

However, this rule would no longer be applied as the department wants to encourage e-donations, Mr Vinit said.

There are two options when it comes to making an e-donation. A donation can be made by scanning the QR code of the organisation, or the donor can donate cash at the organisation and ask them to register the donation as an e-donation.

Around 2.26 million people made 5.09 million e-donation transactions last year, tallying 11.9 billion baht.

In 2021, around 1.37 million people made 2.93 million e-donation transactions, tallying 9.72 billion baht.

In a separate matter, the department collected revenue of 754 billion baht during the first five months of the 2023 fiscal year, said director-general Lavaron Sangsnit.

This amount is 10.5%, or 71.7 billion baht, higher than the department's target.

Mr Lavaron attributed the higher revenue to the rebound in domestic consumption amid the economic recovery.

As of April 5, 10.1 million individuals filed personal income tax documents, up 43.7% over the same period last year. Of the total, 3.65 million filed for a tax return, up 14.2%.

The size of the requested tax return was 26 billion baht, up 14.9%. The department has returned tax to 2.8 million taxpayers.

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