11 July 2024

Car fuel expenses can be claimed as income tax deductions under the government’s “Shop Dee Mee Kuen” economic stimulus scheme, from January 1st until February 15th.

According to Revenue Department Director-General Lawaron Saengsanit, motorists and motorcyclists can use fuel purchase receipts, issued by registered gas stations, up to a maximum of 40,000 baht as tax deductibles.

He said that this measure will help encourage travel during the New Year, which will boost the domestic tourism sector.

About 1.4 million people are expected to benefit from this scheme, while the state will lose about 6.2 billion baht in tax revenue, but the scheme is expected to generate about 42 billion baht in spending.

He said that the tax deductibles will not be extended to spending liquor, tobacco, automobiles, hotel rooms, public utilities, internet or mobile phone services.

Lawaron said this will be the first time that fuel expenses can be used to reduce the income tax burden.

In addition to the tax deductions for car fuel expenses, the cabinet decided to cut land and construction taxes to 15%, land transfer fees from 2% to 1% and mortgage fees from 1% to 0.01%.

The period for the reduction in excise tax on jet fuel, from 4.726 baht/litre to 0.20 baht/litre for domestic flights, will be extended to June 30th next year.