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.
Corporate income tax exemption from government projects
On 24 January 2022, the Cabinet approved a royal decree to provide corporate income tax exemptions for a company or legal partnership for benefits received from government projects to mitigate the impact of COVID-19, as follows:
Additional tax deduction for SMEs to acquire a computer program
Under Royal Decree No. 725, small and medium enterprises (“SMEs”) are allowed to deduct a greater amount of expenses incurred for acquiring a computer program for corporate income tax purposes than normal. However, the rules, procedures, and conditions prescribed by the Director-General of the Revenue Department must be complied with.
Extension of filing deadline for country-by-country report
Under Notification of the Director-General of the Revenue Department on Income Tax No. 408 (“Notification No. 408”) dated 30 September 2021, multinational enterprises (“MNE”) required to submit a country-by-country report (“CbCR”) in Thailand must file the CbCR together with the annual corporate income tax return (Form PND 50) within 150 days of the end of the accounting period.
Additional deduction for the employment of ex-convicts
On 8 November 2021, the Government published Royal Decree No. 726 in the Government Gazette to extend the period for tax benefits provided for the employment of ex-convicts, which ended on 31 December 2020, for another year to continue promoting and supporting companies or legal partnerships that employ ex-convicts for a period of time.
Additional tax deduction for SMEs to use a computer program
To encourage small and medium enterprises (“SMEs”) to use legally registered computer software in their business operations, the Government published Royal Decree No. 725 in the Government Gazette on 8 November 2021. Royal Decree No. 725 allows SMEs to deduct a greater amount of expenses incurred for acquiring a computer program for its corporate income tax purposes.