BANGKOK, June 22 (TNA) – The cabinet on Tuesday offered a five-year personal income tax break to the foreign actors who perform in Thailand.
Deputy government spokeswoman Rachada Dhnadirek said the resolution was aimed at attracting foreign film crews to the country and promote the soft power of Thailand.
The government earlier supported foreigners’ movie production by offering cash rebates worth up to 15-20% of their costs in the country. The rebates were limited at 75 million baht. Meanwhile, foreign actors had to pay personal income tax in Thailand and also in their native country. The duplicated taxation could discourage foreign film crews from arriving, Ms Rachada said.
“In the next five years, Thailand should earn 3.5 billion baht annually from foreign movie production in the country. The total income should be about 17.5 billion baht in the five-year period while the state will lose about 71.75 million baht in its revenue from the taxation on foreign actors,” she said. (TNA)