On 16 June, Mr. Prasert Chanruangthong, Minister of Education, revealed after the Cabinet meeting that the Cabinet approved a measure to extend the tax benefits for those donating money or assets to educational institutions. This initiative, proposed by the Ministry of Education in cooperation with the Ministry of Finance, aims to promote continuous support for education. The measure was previously enforced under the Royal Decree issued pursuant to the Revenue Code Exemption (No. 768) B.E. 2566 (2023), allowing donors who contribute via the Revenue Department’s electronic donation system (e-Donation) to deduct twice the amount of their actual donation from their taxable income or expenses. This measure was set to expire on 31 December 2024.
Mr. Prasert added that the Cabinet approved extending this measure for another three years, retroactive from 1 January 2025 to 31 December 2027, to encourage both the public and private sectors to support education. Donors will continue to enjoy tax deductions or expense deductions equal to twice the value of their donated money or assets. However, when combined with other special deductions or expenses allowed by law, the total must not exceed 10 percent of net income after expenses and other deductions for individuals, or 10 percent of net profit before charitable or public benefit expenses for juristic persons, according to criteria set forth in the Revenue Code.
The Minister of Education also stated his belief that this measure will encourage those with goodwill to participate in supporting educational development, reduce the financial burden on the government, and benefit educational institutions and the country’s education system in the long term.
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