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 tax deduction for the purchase of antigen test kits
On 14 September 2021, the Cabinet approved a draft Royal Decree under the Revenue Code relating to tax measures to support the purchase of COVID-19 test kits (antigen test kits), as proposed by the Ministry of Finance.
Extension of the reduced VAT rate
Currently, the VAT rate is reduced from the normal rate of 10% to 7%. This reduction was set to expire after 30 September 2021, unless another law was passed extending the reduced VAT rate.
Waiver or reduction of tax penalties
In addition to the extension of the tax filing deadlines to mitigate the impact of COVID-19, the Ministry of Finance also announced on 24 August 2021 that it would waive or reduce tax penalties.
Tax filing deadline extensions - August 2021
On 23 August 2021, the Thai government issued three notifications extending the deadlines for filing several types of tax returns electronically.
Update on VAT registration of e-services
On 16 August 2021, the Revenue Department issued Notification of the Director-General of the Revenue Department on Value-added Tax (No. 241) (“Notification No. 241”) which specifies rules, procedures and conditions for filing a VAT registration application and notifying authorities of changes in VAT registration for non-resident electronic service providers and electronic platform operators.