Friday, August 22, 2008

Olympic heroes may be spared paying tax

Olympic heroes may be spared paying tax

The Finance Ministry is considering waiving income tax on Thai athletes who receive cash rewards for winning Olympic medals in Beijing, said Finance Minister Surapong Suebwonglee.

He said the proposed tax exemption by the Sports Ministry was aimed at encouraging the medallists who brought honour to the country.

He said the Revenue Department is studying tax laws and related regulations to decide if a tax exemption can be granted.

Mr Surapong said there should not be a problem because Thai athletes who won medals from previous Olympics Games were also given a tax waiver.

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