กำลังโหลดหน้าเว็บไซต์
รอสักครู่น้า
กำลังโหลดหน้าเว็บไซต์
รอสักครู่น้า
Q: Can insurance be used for tax deduction?
A: Yes, purchasing insurance can indeed be used for tax deduction, based on the criteria set by the Revenue Department. However, each type of insurance that qualifies for tax deduction has different criteria.
Q: How much is tax deduction from insurance?
A: Each type of tax-deductible insurance has different criteria. You can find more information about tax-deductible insurance
Q: Can health insurance I purchased for parents be used for tax deduction?
A: Health insurance premiums for parents can be used for tax deduction as paid, but up to 15,000 Baht per year. If the insurance premium is shared with siblings, each person can use it to reduce taxes, with the condition that the premiums are evenly distributed. Additionally, health insurance premiums for parents of the spouse can also be used for tax deduction, provided that the spouse has no income. Conditions are as follows:
- You or one of your parents has been in Thailand for 180 days in that year.
- Father or mother must have annual income of less than 30,000 Baht.
- For health insurance of parents, you/spouse must be a legitimate child.
- It must be health insurance from life insurance companies in Thailand only.
Q: Can parents purchase insurance for children who are minor for tax deduction?
A: No, parents can only exercise their tax deduction right for the specific expenses related to their children as stipulated by the government.
Q: Where can I obtain tax deduction documents for the insurance I purchased?
A: If you purchased tax-deductible insurance, you can download the premium payment certificate from insurance companies. From the tax deduction of 2020 onwards, the taxpayers must declare their intention to allow the companies to submit the data to the Revenue Department.
Health insurance : Purchase insurance for yourself to exercise the tax deduction right up to 25,000 Baht, and up to 100,000 Baht when combined with ordinary life insurance. For health insurance premium for parents, you can exercise the tax deduction right according to the actual payment, up to 15,000 Baht per year.
Annuity insurance : If you do not exercise the tax deduction right for ordinary life insurance, you can use the annuity premium for tax deduction up to 100,000 Baht first, and you can use the premium of annuity insurance for tax deduction in the limit of annuity insurance up to 200,000 Baht.
- Coverage period of the rider must not exceed the coverage period of the life insurance policy that this rider is attached to.
- Premium is eligible for tax deduction. Conditions are as specified by the Revenue Department.
- Underwriting is subject to the Company’s rules.
- Conditions are according to the standards and medical necessity.
- Please study details of coverage, conditions and exclusions before making a decision to purchase insurance.