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.
Extension of the reduced VAT rate
Currently, the value-added tax (VAT) rate is reduced from the normal rate of 10% to 7%. This reduction was set to expire after 30 September 2019, unless another law was passed extending the reduced VAT rate.
Reminder About Filing Half-Year CIT Returns
The deadline for filing the half-year corporate income tax return (Form PND. 51) and paying half-year income tax is 2 September 2019 for companies or legal partnerships where the fiscal year is the same as the calendar year.
Payment of Stamp Duty for Electronic Instruments
The Thai Revenue Department issued Notification of the Director-General on Stamp Duty No. 58 in June 2019 together with Notification of the Director-General on Stamp Duty No. 59 in July 2019 to specify the methods to be used for paying stamp duty on electronic instruments. Those Notifications took effect on 1 July 2019.
Tax deduction on e-tax system investments
To encourage corporate income taxpayers to develop an electronic tax system, the Revenue Department issued Royal Decree No. 683 to allow additional deduction of expenses paid by corporate income taxpayers for investment in developing such a system. This Royal Decree came into effect on 13 June 2019. We set below a summary of this Royal Decree.
Tax deductions to stimulate the economy
On 15 May 2019, several Ministerial Regulations issued by the Revenue Department were published in the Government Gazette. Those regulations allow personal income tax deductions to stimulate the economy in regard to domestic travel, purchasing educational and sporting equipment and clothing, OTOP (One Tambon One Product) products, e-books, and residential property.