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SCB HOME LOANS
Grant consent
to disclosure of your home mortgage interest payments
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For more convenient personal income tax filing, let SCB submit a certificate of your home mortgage interest payments to the Revenue Department in advance to save you time with document preparation.
On December 24, 2020, a notification of the Director-General of the Revenue Department regarding personal income tax (PIT) with amendments on criteria and procedure for PIT deduction was released. Highlights regarding home mortgage interest payments are as follows
Borrower’s duty to declare their PIT deduction entitlement
| Mortgage contract effective date | Borrower’s PIT deduction entitlement | PIT deduction entitlement | |
| Declared | Not Declared | ||
| Before 2021 | / | Allowed without a certificate required | |
| / | Allowed with a certificate required | ||
| From 2021 onward | / | Allowed without a certificate required | |
| X | NOT allowed | ||
| Home mortgage contracts made before January 1, 2021 | Home mortgage contracts made from January 1, 2021 onward |
| It is optional for borrowers to declare their PIT deduction entitlement to a creditor. In the event that a borrower does not wish to do so, they are still entitled to PIT deduction, with proof of home mortgage interest payment (Form LY.02) issued by the creditor. | Borrowers must declare their PIT deduction entitlement to a creditor. Otherwise, they will not be entitled to PIT deduction for any paid home mortgage interest. |
Borrowers shall give their consent to the bank before December 30 of a tax year, so that the bank can submit information about their home mortgage interest paid during the tax year to the Revenue Department. Consent granted by a borrower shall take effect from the consent granting year until they submit a notification letter to cancel or change their consent, following the process and conditions specified by the bank.
Related laws and regulations
- Notification of the Director-General of the Revenue Department on Income Tax (No. 396): Criteria and procedure for deduction of loan interest according to Section 47 (1)(g) of the Revenue Code
- Notification of the Director-General of the Revenue Department on Income Tax (No. 397): Criteria and procedure for tax exemption for income paid as home mortgage interest, according to Clause 2 (53) of the Ministerial Regulation No.126 (B.E.2509) issued in accordance with the provision of the Revenue Code regarding tax exemption
- Notification of the Director-General of the Revenue Department on Income Tax (No. 398): Criteria and procedure for tax exemption for income paid as home mortgage interest, according to Clause 2 (59) of the Ministerial Regulation No.126 (B.E.2509) issued in accordance with the provision of the Revenue Code regarding tax exemption
