Thailand Exempts 923 Fishing Boats From 167 Million Baht Tax
Thailand's Cabinet has approved tax exemptions totaling 167 million baht for 923 fishing boat owners participating in an unlicensed vessel removal program, allowing them to retain full compensation as capital for new livelihoods.
Deputy Government Spokesperson Lalida Perisivivattana announced that the Cabinet has approved a draft royal decree to exempt personal and corporate income tax on compensation payments from the Department of Fisheries to fishing boat owners participating in the unlicensed vessel removal program for sustainable marine resource management in 2025 and 2026. The tax exemption totaling 167 million baht—comprising 160 million in personal income tax and 7 million in corporate income tax—will allow affected fishers to use the full compensation as capital for new livelihoods and improved living standards without tax deductions at year-end. The Cabinet approved the latest phase of the boat removal program on March 3, 2025, allocating 1,622.6 million baht in compensation for 923 vessels: 877 boats to be dismantled, 1 vessel to be repurposed as a café, hotel, or library, and 45 boats to be converted for other commercial uses, with payments distributed in two installments through 2026. The measure follows the same tax principles applied to previous government boat removal phases and is intended to balance support for affected fishing communities with marine conservation and sustainable fishing promotion, with relevant agencies tasked to monitor outcomes continuously.
