The Thai Royal Decrees No. 695 and 698 announced a tax relief measure in response to the Covid-19 pandemic. The Decrees permitted an additional 150% deduction to companies and juristic partnerships for certain investments made in new machinery and hotel renovations.
Companies and eligible partnerships can claim the additional 150% deduction for income tax purposes for:
- qualifying amounts paid for investment in machinery but excluding machinery repair and maintenance; and
- qualifying payments made for additions, alterations, extensions or improvement of property related to hotel business.
Qualifying payments must be made in 2020, during the period from 1 January 2020 through 31 December 2020.