Thailand’s Finance Ministry is launching a new savings initiative to help citizens prepare for an ageing population, with tax deductions of up to 800,000 baht under the Thailand Individual Savings Account (TISA) scheme.
Deputy Prime Minister and Finance Minister Ekniti Nitithanprapas revealed that the economic ministerial meeting yesterday, December 8, approved a key measure under the government’s fifth economic pillar, promoting savings and boosting financial security.
Ekniti said the heart of the policy lies in preparing Thais for an ageing society.
“We’ll increase the tax-deductible limit to 800,000 baht without requiring yearly re-approval… Those earning under 1.5 million baht per year can enjoy a 1.3x savings benefit. Around 11.4 million people are expected to benefit from this.”
The new scheme aims to increase household savings and channel more capital into Thailand’s financial markets. It’s not yet confirmed whether the measure will be submitted to the Cabinet tomorrow.
To further attract participation in the market, the government also plans to waive withholding tax on investment gains of up to 200,000 baht, provided the investment is held for more than five years.
Additionally, monthly government savings bonds, known as Savings Plus, will be made available to the public with a low minimum investment of 1,000 baht, providing broader access to stable government-backed securities. Stamp duty on insurance purchases will also be waived.
When asked whether the new round of state welfare card benefits will be ready by tomorrow, Ekniti said the team is still finalising the proposal. Meanwhile, the Half-Half Plus scheme was not discussed in this round of economic talks.
In a similar development by the Finance Ministry, Thailand is set to impose a 10% customs duty on low-cost imports starting January 1, 2027, aiming to protect local SMEs from cheap foreign goods.
The new tax applies to imports valued under 1,500 baht, which are currently duty-free. Finance Minister Ekniti Nithanprapas said the move supports domestic industries hit by rising competition.
The story Thailand unveils 800k tax deductions under TISA plan as seen on Thaiger News.
