Tax exemption on health insurance premium

Tax exemption on health insurance premium

From the Revenue Department’s announcement (no. 315) concerning income tax exemption for health insurance premiums, a health insurance premium is an allowable exemption for personal income tax purposes up to a maximum of THB 15,000.

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Tax forms:

Year 2018

WARNING:

  • In order to meet the criteria set in the Director of the Revenue Department announcement (no. 315) concerning income tax exemption for health insurance premiums, customers need to provide their written intention (for tax exemption) and give their consent to MSIG Insurance (Thailand) Public Company Limited to submit and disclose such relevant information to the Department of Revenue a tax exemption certificate can be issued. If the company (MSIG Insurance) does not receive such a letter of intent by December 15th to December 31st of the corresponding tax year, customers’ information will not be sent to Revenue Department and customers will not be eligible for income tax exemption for health insurance premiums in that tax year, in accordance with the criteria set by the Revenue Department.
  • If the insured cancels the policy or endorses it changing the amount of premium exempted from tax, you are required to file an additional tax return to ensure the income tax paid to the Department of Revenue is accurate and complete.
  • For customer convenience regarding Income Tax Exemption on Health Insurance Premiums, the company will automatically pass on your related information to the Revenue Department each year. However, if you do not wish the company to pass on or disclose this information to the Revenue Department; or you need to change the information, please visit the company’s website or contact our Customer Care on 02‑007‑9085 during office hours.