Ministerial Regulation No. 398 (B.E. 2568) introduces a new set of tax incentives approved dated 11 March 2025. A key element of this is the Thai ESGX Fund, a specially designated mutual fund that supports long-term investment in companies that meet Environmental, Social, and Governance (ESG) standards. These tax benefits apply to investments made up to June 30, 2025. To help investors make the most of these opportunities, we provide a clear overview of the savings and investment options that qualify for tax deductions in the 2025 tax year.
Key features of the Thai ESGX Fund
Investment Criteria: The Thai ESGX Fund must invest at least 65% of its NAV in Thai ESG-compliant equities and at least 80% in ESG-related assets overall.
Tax Incentives:
With this regulation launched, Investors should consider their total investments across all eligible funds—including other pensions and existing long-term investment—to maximize annual tax deductions. A summary table is provided below for reference.
| Fund type | Maximum tax-deductible amount | Investment period | Important notes |
| Retirement Funds (Retirement Mutual Fund, Provident Fund Pension Life Insurance) |
Up to THB 500,000 |
Ongoing |
Combined limit across all retirement-related funds |
| Thai ESG Fund | Up to THB 300,000 (Not exceeding 30% of assessable income) |
1 Jan 2024 – 31 Dec 2026 |
Must be held for at least 5 years |
| Thai ESGX Fund (New Investment) | Up to THB 300,000 (Not exceeding 30% of assessable income) |
2 May – 30 June 2025
|
Must be held for at least 5 years |
| Thai ESGX Fund (LTF Conversion) |
THB 300,000 in 2025 |
13 May – 30 June 2025 | Must not sell or switch LTF after 11 Mar 2025 and must convert all existing LTF to Thai ESGX;
Thai ESGX units must be held for at least 5 years |
The Thai ESGX Fund is suitable for investors who have clear objectives in both tax planning and sustainable investing. Key target groups include:
For a deeper discussion on the above, please reach out to your Vialto Partners point of contact, or alternatively:
Jiraporn Chongkamanont
Partner
Natchanond Charoenmechaikul
Senior Manager
Apaporn Trakarnratti
Manager
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Vialto Partners (“Vialto”) refers to wholly owned subsidiaries of CD&R Galaxy UK OpCo Limited as well as the other members of the Vialto Partners global network. The information contained in this document is for general guidance on matters of interest only. Vialto is not responsible for any errors or omissions, or for the results obtained from the use of this information. All information is provided “as is”, with no guarantee of completeness, accuracy, timeliness or of the results obtained from the use of this information, and without warranty of any kind, express or implied, including, but not limited to warranties of performance, merchantability and fitness for a particular purpose. In no event will Vialto, its related entities, or the agents or employees thereof be liable to you or anyone else for any decision made or action taken in reliance on the information in this document or for any consequential, special or similar damages, even if advised of the possibility of such damages.
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