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.
Double deduction of expenses for domestic training
In order to stimulate domestic tourism and the Thai economy, on 4 February 2020, the Cabinet approved a measure relating to corporate income tax proposed by the Ministry of Finance.
Extension of deadline for filing annual PIT return
Generally, the deadline for filing annual personal income tax return is 31 March. However, in its meeting on 4 February 2020, the Cabinet approved a measure proposed by the Ministry of Finance to extend the deadline for filing annual personal income tax returns for 2019 from 31 March 2020 to 30 June 2020.
No evidence for an insurance premiums deduction
The Revenue Department provides information on various types of tax allowances from relevant organizations on its “My Tax Account” system, so that taxpayers can search for information on allowances and their tax benefits.
Mutual fund products for long-term savings
On 3 December 2019, the Cabinet approved mutual fund products for long-term savings.
Postponement of land and building tax collection
On 12 March 2019, the Land and Building Tax Act, 2562 B.E. (“the Act”), was published in the Government Gazette. Tax collection for land and buildings under this Act was to begin on 1 January 2020. However, on 11 December 2019, the Ministry of Interior announced that it was postponing the timeline for procedures under the Act.