Tax deduction rules for investment in Thai ESG Funds to be revised

On 25 June 2024 the Ministry of Finance announced proposed changes to the conditions for personal income tax deductions related to the purchase of investment units in Thai ESG Funds. 

The main changes are:

• The minimum period that the investment units must be held is reduced from 8 years to 5 years.
• The maximum tax deduction allowed in a year is increased from Baht 100,000 to Baht 300,000, but not exceeding 30% of the investor’s assessable income.

The revised conditions are expected to be tabled for approval by the Cabinet in the next 2 weeks. If approved, the changes would be effective from 1 January, 2024.

The proposed changes are part of a package of measures announced to support the Thai stock market. Investment rules for ESG-focused funds will also be eased.

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