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Thailand plans tax incentives for green initiatives

31st May 2024

Thailand’s government is preparing a number of tax incentives to boost the low-carbon economy.

Speaking at the Bangkok Post’s Greening the Future: ESG Leadership in the Sustainability Revolutionconference, finance minister Pichai Chunhavajira (pictured above) said the government intended to promote the use of alternative energy and the reduction of energy consumption by allowing tax deductions from the purchase and installation of solar PV panels. Expenses incurred in improving energy efficiency would also be deductible.

Such measures could be a significant incentive to asset owners seeking to boost their sustainability. 

There are also plans to give tax breaks for calculating a business’s carbon footprint and, in the long term, plans for a carbon tax. 

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