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.

The Government's Resolution

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 is not an ascendant, descendant or a spouse, for such gifts received not exceeding 10 million baht in a tax year.
  

Pursuant to this law therefore, gifts received by athletes in excess of 10 million baht are subject to income tax.

But as it is tradition for Thailand public and private companies and persons 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.

The Tax Exemptions for Athletes

From 1 February 2016, for athletes who bring fame and honor to the country the income tax burden is relieved 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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