'Tis the season to deduct | Bangkok Post: business

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'Tis the season to deduct

A plethora of investment tools are available for last-minute tax savings

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The New Year countdown is nearing for taxpayers. If you are a salary earner, you can save on tax expenses by deducting tax through various investing tools. 

Income tax generally will be withheld by your company before it pays your salary. You can deduct the typical tax in the whole amount but not exceeding 300,000 baht a year from the long-term fund investment.

Investing in retirement mutual funds (RMFs) and long-term equity funds (LTFs) is a key choice for tax savings. The twin long-term funds require different conditions for investment, said Umapan Charoenying, the first vice-president for consumer financial advice at Kasikornbank.

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