THAILAND Law and Practice Contributed by: Olaf Duensing, Jerrold Kippen and Weeraya Kippen, Duensing Kippen, Ltd.
Land does not depreciate. Deductions on rental income are applicable and actual expenses may be deducted in the case of houses, buildings or other constructions. If the property is let by the owner, a standard deduction of 30% is allowed as expenses. Rental income tax recipients have the option to define the taxable income by sufficiently doc - umenting their actual rental income-related expenses. If these expenses are higher than the standard 30% deduction, are reasonable and sufficiently document - ed, then such deduction can be effected.
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