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.
Value added tax imposed on e-services
On 9 June 2020, the Cabinet approved a draft act amending the Revenue Code to impose VAT on foreign-based operators that provide services to customers not registered for VAT in Thailand through an electronic media or digital platform.
Deadline for submitting transfer-pricing disclosure form extended
In order to encourage companies that must submit a transfer-pricing disclosure form to do so electronically, the Minister of Finance issued a notification announcing the extension of the deadline for electronic submission by another 8 days.
Reduction of land and building tax by 90% for 2020
On 10 June 2020, a Royal Decree on reducing taxes on certain types of land and buildings was published in the Government Gazette and became effective on the following day. The purpose of the reduction is to alleviate tax burdens on people and entrepreneurs affected by the COVID-19 outbreak.
New Tax Filing Extension Deadlines
On 12 May 2020, the Thai government announced new deadlines for filing tax returns and making tax payments.
Corporate income tax refunds via Prompt Pay
On 28 April 2020, it was announced that the Revenue Department will provide corporate income tax refunds via the Prompt Pay system from 1 May 2020. This is another way for taxpayers to request a refund in addition to receiving cheques or wire transfers.