In previous years, the supporting document for claiming a tax deduction for investing in mutual funds (SSF and RMF) was an investment certificate issued by the asset management company. However, the rule has been changed this year.

A taxpayer who wishes to claim personal income tax deductions for investments in an SSF or RMF made from 1 January 2022, onwards must give consent to the asset management company to disclose his/her investment information to the Thai Revenue Department. Otherwise, he/she will not be allowed to claim a tax deduction for such investments, whether with or without the investment certificate issued by the asset management company.

Therefore, it is recommended that a taxpayer, who wishes to claim the above-mentioned tax deduction, shall give that consent to the asset management company by the end of the concerned tax year since the asset management company must disclose the investment information of taxpayers to the Thai Revenue Department by the fifteenth day of January of the following year. As such, if you wish to claim that tax deduction for the 2022 tax year, it is advisable that you give that consent to the asset management company by 31 December 2022, since the company must disclose your investment information to the Revenue Department by 15 January 2023. If you are not sure whether you have given that consent to the asset management company already or not, it is recommended that you contact that company to take the necessary action. Once that consent is given to the asset management company, the investment certificate, issued by the asset management company, would no longer be required for claiming the tax deduction.

We, N-Able Group, are a real proficient expert in Thai personal income tax matters, especially for the issues that concerns FOREIGNERS. If you have any further questions or need any assistance in Thai taxation matters, please do not hesitate to contact us through the following channels:

Email address: info@nablecompanies.com

Telephone, WhatsApp, and Line: + 66 95 557 1410