Tax Section - Doing Business
You will find here a series of summaries providing an overview of useful tax regulations, processes and tax issues for Doing Business in Thailand.
“Shop Dee Mee Kuen” tax rebate scheme
In an effort to boost domestic consumption at the start of the new year and to promote e-tax systems for businesses registered for VAT, the Thai government has provided a personal income tax deduction of up to THB 40,000 for the domestic purchase of goods and services from 1 January 2023 to 15 February 2023.
Royal Decree on VAT exemption for data hosting services
Royal Decree No. 759 was published in the Government Gazette on 8 November 2022. It provides an exemption from VAT for data centres which provide the following services:
Tax implications of New Year’s gifts and events
At this time of year, many companies tend to host New Year’s parties for their employees. Companies should keep in mind the following tax issues related to New Year’s parties and New Year’s gifts given to employees.
Claiming tax deductions for SSF and RMF investments
Taxpayers who would like to claim personal income tax deductions for investments in Super Saving Funds (“SSF”) or Retirement Mutual Funds (“RMF”) made from 1 January 2022 onwards must file a claim for a tax deduction with the asset management company by 31 December 2022. If taxpayers do not do this, they will not be allowed to claim a tax deduction for such investments.
Filing past due tax returns through the Revenue Department’s e-filing system
On 27 September 2022, the Revenue Department announced that, from 29 September 2022 onwards, taxpayers can file past due tax returns and pay tax through the Revenue Department’s e-filing system.