Deductions may be tweaked for LTFs, RMFs | Bangkok Post: business

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Deductions may be tweaked for LTFs, RMFs

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The Revenue Department is poised to revise personal income tax deductions and allowances, saying that tax benefits from mutual fund investments should be adjusted. 

Director-general Suthichai Sangkhamanee said high-income earners now reap excessive benefits from the current structure of deductions and allowances, particularly for long-term equity funds (LTFs) and retirement mutual funds (RMFs).

Individuals can deduct their investments in LTFs of up to 15% of annual income or 500,000 baht, whichever is lower.

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