TISA Nears Completion With Two Final Issues
Thailand's Individual Saving Account (TISA) is nearing launch with officials finalizing tax deduction limits and timeline details after scrapping a complicated multiplier system that would have penalized higher earners.
Thai Capital Market Business Council chairman Paibuol Nlintherangkun revealed that the Thailand Individual Saving Account (TISA) project is awaiting final decisions on the tax deduction limit and the program's launch timeline. He emphasized these remaining points are not barriers, but require further discussion to reach clarity.
One confirmed change is the elimination of a multiplier system that would have capped total personal income tax deductions at 800,000 baht, with earners below 1.5 million baht annually claiming 1.3 times the deduction and those above claiming only 0.7 times. "The multiplier issue has been removed by the Finance Ministry because it was too complicated," Nlintherangkun said.
TISA will operate separately from other deduction categories, including insurance premiums and the Provident Fund (PVD), because retirement savings require holders to maintain investments until age 55—incompatible with TISA's individual stock investment feature. Nlintherangkun noted that the Thai ESG mutual fund will likely not be extended once TISA launches, as investors can obtain tax deductions through TISA instead.
