BrokerTH
If you’re trying to maximize tax deductions through Thai investment funds in 2026, you have three main tools: Thai ESG (the regular one), Thai ESGX (the newer one launched in 2025), and SSF (Super Savings Fund). Each works differently. Used together, they can deliver substantial tax savings. Used in the wrong combination, they leave money on the table.
The headline limits
Thai ESG: up to 30% of assessable income, max ฿300,000 per year through 31 December 2026, then dropping to ฿100,000 from 2027 onwards. 5-year holding period.
Thai ESGX (regular, post-2025 IPO): up to 30% of assessable income, max ฿300,000 per year. Separate bucket from Thai ESG — both can be claimed. 5-year holding period.
SSF (Super Savings Fund): up to 30% of assessable income, max ฿200,000 per year. Combined with RMF and other retirement-bucket products up to ฿500,000 total. 10-year holding period.
Stacked together for someone with high enough income, that’s ฿800,000 in tax deductions in 2026 (Thai ESG + Thai ESGX + SSF together). With the LTF-to-Thai-ESGX switch from 2025 still in effect, the same person could be claiming an additional ฿50,000 from the switch path through 2029.
Where the money actually goes
Thai ESG: invests at least 80% of NAV in Thai sustainable assets with SET ESG ratings. Heavy in petrochemicals, telcos, banks that pass ESG screens. Conservative, dividend-oriented mix.
Thai ESGX: similar mandate but with 80% in sustainability-related Thai assets and at least 65% specifically in equities. Slightly more equity-heavy than regular Thai ESG. Includes digital sustainability tokens in eligible assets (forward-looking).
SSF: open mandate — can invest in Thai equities, foreign equities, bonds, or mixed. Multiple sub-categories. Choice depends on what you want. Most SSF flows have gone to mixed and foreign equity funds, providing diversification beyond Thai-only exposure.
Holding periods and exit penalties
Thai ESG and Thai ESGX both require 5 years from investment date. If you sell early, you owe back the tax deduction plus 1.5% monthly surcharge from the Revenue Department, capped at the tax savings amount.
SSF requires 10 years. Much longer lock-up. Designed as a retirement vehicle. Early withdrawal penalties are similar in mechanic but the time horizon makes them more impactful.
Which one to prioritize
If your tax bracket is 25%+ and you have the disposable income, the order generally goes:
First, RMF (not covered here but worth mentioning) — it’s part of the ฿500,000 retirement bucket alongside SSF.
Second, SSF — uses the same ฿500,000 retirement bucket but has shorter holding period (10 years) than RMF (until age 55 with 5-year minimum).
Third, Thai ESG — separate bucket, ฿300,000 cap, 5-year lock.
Fourth, Thai ESGX — another separate bucket, ฿300,000 cap, 5-year lock.
The first two share the retirement deduction limit (฿500,000 combined). The latter two stack independently. For someone with ฿2 million+ in assessable income, all four can be maxed for ~฿1.1 million in combined deductions.
Practical scenarios
Young professional, ฿1 million income, 25% bracket: max RMF/SSF combined (฿200,000-300,000), add Thai ESG (฿200,000). Total deduction ~฿500,000, tax savings ~฿125,000. Stop there — adding Thai ESGX requires income to use the deduction properly.
Mid-career, ฿2 million income, 30% bracket: max all four buckets where possible. Total deduction up to ~฿900,000, tax savings ~฿270,000. The ROI on the lock-up cost is meaningful at this income level.
High earner, ฿5 million+ income, 35% bracket: max all four. The retirement bucket ceiling caps RMF+SSF combined at ฿500,000, but Thai ESG and Thai ESGX add another ฿600,000 in deductions. Tax savings ~฿385,000 annually. Substantial.
What to actually buy
Within each category, the choice of fund matters. For Thai ESG and Thai ESGX, major AMCs (SCB, Bualuang, Krungsri, K-Asset, MFC) offer similar products with similar mandates. Fees range from 1-1.5% per year. Pick based on the AMC you already have a relationship with and the specific sub-fund’s holdings — some are more concentrated in dividend stocks, others in growth.
For SSF, the choice is wider. Mixed equity-bond SSFs are popular for risk-averse investors. Foreign equity SSFs (US, Japan, global) provide diversification. Thai equity SSFs concentrate on domestic exposure. Decide based on the role you want this allocation to play in your broader portfolio.
