The Thai Ministry of Finance has released the Royal Decree No. 707 and 708 regarding tax relief measures for SMEs in response to the Covid-19 pandemic, with effect from 13 July 2020.
The Royal Decree No. 707 permits eligible SMEs that affected from Covid-19 pandemic to claim an additional 50% deduction of interest expenses (for a 150% deduction in total) incurred on “soft loans”. The interest expenses must incur in the period from 1 April 2020 to 31 December 2020.
The Royal Decree No. 708 permits eligible SME employers to claim an additional 200% deduction (for a 300% deduction in total) of salary expenses (without overtime, bonuses and other payments) paid to employees who are covered by social security provisions, for salary paid in the period from 1 April 2020 to 31 July 2020.
