On 17 Feb 2017, Ministerial Regulation No 325 (BE 2560) was gazetted, putting into effect the Government's resolution to provide a complete exemption from income tax for athletes receiving gifts for competing at sports events.

Following the enacting of Revenue Code Amendment Act (No 40) applying from 01 Feb 2016, Section 42 (28) of the Revenue Code exempts from income tax:

• Gifts received at ceremonies or on occasions according to tradition by a person who's not an ascendant, descendant or spouse but only for such gifts received not exceeding 10 million baht in a tax year.

And therefore, for the amount of gifts an athlete receives in excess of 10 million baht, the athlete is subject to income tax on such amount.

But as it's tradition for Thailand public and private companies and individuals to provide gifts to athletes who compete at The Olympic Games, Asian Games and other world sports events, and bring fame and honor to the country, Ministerial Regulation No 325 (BE 2560) has been issued to also exempt from tax, amounts received by athletes in excess of 10 million baht.

Tax Exemptions for Athletes

Following the enacting of Ministerial Regulation No 325, athletes are entitled to complete exemption from income tax on the gifts they receive, as follows:

For the amount of gifts received up to 10 million baht in a year		Exemption from income tax under Revenue Code Section 42 (28)
For the amount of gifts received in excess of 10 million baht in a year		Exemption from income tax under Ministerial Regulation No 325

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