A new law excludes high ranking royals from Thailand’s inheritance tax, even though a portion of royal expenses comes out of the National Budget.
On 25 January 2017, the Royal Gazette published a law titled, “Financial Ministerial Regulation On Persons Classified for Inheritance Tax Exemption”. This law was retroactively enacted from 1 February 2016, the first day the 2015 Inheritance Tax Act was officially enforced, reported Khaosod English.
The regulation states that “persons who receive royal business expenses from the National Annual Budget and persons who receive annual royal family money whose title is His and Her Royal Highness (Prince and Princess) and upward” shall be exempt from inheritance tax.
(Read full story at Khaosod English.)
The previous version of this story contained inaccuracies. The regulation does not extend to royal servants. Prachatai apologises to Khaosod and readers
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