Friday , June 21 2024

Thailand introduces tax exemption for foreign actors

Thailand is introducing more tax breaks and other incentives to encourage foreign producers to film in the country, after a South Korean series sparked “Thai fever” with an episode set in Thailand.

Foreign actors appearing in works produced by foreign companies will be exempt from income tax over a period of five years.

The new tax breaks will take effect on Aug 2, The Strait Times quoted deputy government spokesman Trisulee Traisoranakul as saying.

South Korean drama King the Land crew in Thailand. Photo from Im Yoona’s Instagram

South Korean drama “King the Land” crew in Thailand. Photo from Im Yoona’s Instagram

For every 100 million baht (US$2.9 million) foreign filmmakers spend in Thailand, they can get a tax return of 20%.

They will get an additional return of 10% if they hire Thai staff to work in their production crews, promote Thai culture, and shoot in other places than major tourist attractions. The highest amount of tax return a movie can receive is 150 million baht.

After an episode set in Thailand of the Korean series King The Land encouraged people from all over the world to visit the kingdom, Trisulee said.

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