OIC seeks new tax breaks

The Insurance Commission has asked the Finance Ministry to increase tax deductions for three insurance categories to boost the industry’s growth. Regulators recently completed a review of tax incentives offered against premium payments for different types of insurance, said Chantra Purnariksha,the secretary-general of the Office of the Insurance Commission (OIC). The commission will propose that individual tax deductions for life insurance premiums be doubled to up to Bt200,000 per year to encourage long-term saving, she said. OIC seeks new tax breaks (Bangkok Post)