Tax Implication

Under the current ministerial regulations applicable to income tax exemption on contribution moneys and benefits of the GPF members upon their retirement, disability, redress dismissal, and death, the GPF members who receive GPF payment moneys, namely pre-reform compensations, member and employer contributions, post-reform compensations, and appropriate returns thereof, from the earlier mentioned causes of actions are not allowed to include such payments as their earnings for the purpose of their personal income tax calculation for the year.

Each GPF member is also entitled to an annual personal income tax exemption on the contributions paid to the GPF fund for the contribution amount not exceeding Baht 500,000.