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.
Additional deduction for the purchase of antigen test kits
On 8 November 2021, the Government published Royal Decree No. 733 in the Government Gazette which became effective on the following day, regarding an additional deduction for the purchase of antigen test kits. This additional deduction is a tax measure approved by the Cabinet in September 2021 to encourage business operators to participate in the prevention and control of COVID-19.
New e-filing system
The Revenue Department launched a new electronic tax filing and payment system (“the new e-filing system”) starting from 6 October 2021.
Requirements for Country-by-Country Report in Thailand
On 15 October 2021, the Revenue Department published Notification of the Director-General of the Revenue Department on Income Tax No. 408 (“the Notification”), dated 30 September 2021, relating to the requirements for a Country-by-Country Report (“CbCR”).
Information / documents required for the local transfer-pricing file
Under Section 71 ter of the Revenue Code, corporate taxpayers which have related parties, as defined by the Revenue Department, and which have annual turnover of at least THB 200 million, are required to prepare and file a transfer-pricing disclosure form within 150 days of the end of the accounting period. The Revenue Department may send a written notice to corporate taxpayers to submit transfer-pricing documentation (“local file”) up to five years after the date on which the transfer-pricing disclosure form is filed.
Application form for a good or registered exporter
Recently, the Revenue Department announced that it would cancel the existing application form for requesting to be classified as a good exporter (Form SorDor 1) and the existing application form to be classified as a registered exporter (Form SorTor. 1), and would merge those two application forms into a single form to be called, “Application form for being classified as a good exporter or registered exporter” (Form SorOr. 1).