June 22, 2022
Foreign actors shooting movies in Thailand will be exempted from paying tax for the next five years in a bid to attract filmmakers to Thailand and boost the country’s soft power.
Deputy government spokesperson Ratchada Thanadirek said the Cabinet approved the move on Tuesday.
Income from foreign filmmakers has increasing significantly, from an average 3.5 billion baht per year during 2017-2020 to 5 billion baht in 2021, she said.
“The government already has a measure to promote movie shooting in Thailand by providing a cash rebate of 20 per cent of what filmmakers spend in Thailand, capped at 75 million baht,” said Ratchada.
“However, in the past foreign actors have had to pay personal income tax from earnings in the country, on top of the tax they already have to pay in their country of origin. This could affect their decision to choose Thailand as a filming destination,” she said.
The government expects the tax-exemption move will help Thailand earn an additional 17.5 billion baht in the next five years from filmmakers, but will lose 71.75 million baht from loss of income tax, Ratchada added.
Source: The Nation