Tax deductible for energy-saving machines/materials in Thailand

BANGKOK, April 4 (TNA) - In an attempt to promote energy saving in Thailand, the Thai Ministry of Finance's Revenue Department has exempted personal and corporate income taxes up to a maximum of 25 per cent of total money spent on buying machines or spare parts or materials or tools which help conserve energy. The department’s deputy director-general, Jitmanee Suwannapool, said on Tuesday that the tax waiver covers machines and parts operated and materials or tools used from January 1, 2011 to December 31, 2012 and they are to be certified by the Ministry of Energy's Department of Alternative Energy Development and Efficiency. Jitmanee acknowledged that depreciation costs for the machines and materials or tools could be deductible not less than five years, starting from the day the machines or tools were first used. (TNA)