Taxpayers will likely be able to deduct more expenses if they have a second child born next year, according to the Revenue Department.
The second-child tax break aims to encourage people to have more children as Thailand is fast becoming an ageing society, says Revenue Department director-general Prasong Poontaneat. (Bangkok Post file photo)
Director-general Prasong Poontaneat said his department had already submitted the proposal to the Finance Ministry for consideration.
Under the measure, parents can deduct an additional 30,000 baht in expenses for the second child on top of the 30,000 baht they already get for the first child.
They may deduct incurred prenatal care and child delivery expenses but not more than 60,000 baht.
All in all, they will get a tax break up to 120,000 baht for the two children.
The measure aims to encourage people to have more children as Thailand is fast becoming an ageing society where 40 million of the 70 million people are more than 60 years old while 25 million are of the working age.