New Tax Deduction: Thailand ESG Fund (TESG)

The Thai Ministry’s approval for the establishment of the Thailand ESG Fund (TESG) marks a significant positive development in Thailand. This initiative represents Thailand’s first-ever locally-based sustainable fund, promoting environmental, social, and governance (ESG) principles within the country.

This fund allows for tax deductions of up to 30% of annual income and permits investments of up to 100,000 Baht without a minimum investment period, though investors must hold the fund units for at least 8 years from the purchase date.

Totem Payroll already includes the new tax TESG deduction and it is ready for the December 2023 payroll.

The ability to input contribution to TESG fund is available from the Settings under Employee Details > Payroll > Tax Deductions.

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