TO cope with the growing aging population, the Thai Cabinet today (Jan. 16, 2018) agreed to double the amount of tax deduction for parents who have a second child, Sanook.com reported.
Effective from Jan 1, 2018 to 31 Jan 2020, parents who have a new baby can deduct 60,000 baht from their annual income before paying their income tax. The current deduction amount is 30,000 baht.
According to the government, the number of elderly people in Thailand will increase to around 30 percent of the total population in 2036.
Top: A heavily pregnant woman. Photo: Sanook.com
By Songpol Kaopatumtip