Questions: Does financial aid in cash or kind given by the Company to flood victim employees treated as taxable income of the employees?
Answer: No, if it is given for the purpose of flood damage compensation and if the amount does not exceed the value of the damage pursuant to Clause 3 (2) of Royal Decree No. 527.
Questions: Are items donated by individuals to public charity organisations, intermediary agents, or government units to help flood victims qualified for person income tax deduction?
Answer: Section 47(7) of the Revenue Code, Section 5 (1) of Royal Decree No. 527 and Clause 2(70) of Ministerial Regulation No. 126 provides that the amount of personal income tax exemption or deduction in respect of donations shall be equal to the amount so donated provided that such amount and other donations under Section 47(7) of the Revenue Code in aggregate shall not exceed ten percent of the assessable income after all allowances and deductions.