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.
Deposit and Transfer Transactions Reporting
On 20 March 2019, the Government published the Act to Amend the Revenue Code (No. 48), 2562 B.E., in the Government Gazette. This Act became effective on 21 March 2019.
New land and building tax act in 2019
On 12 March 2019, the Land and Building Tax Act, 2562 B.E., was published in the Government Gazette, and became effective on the following day. However, tax collection for land and buildings under this Act will come into effect on 1 January 2020. This Act replaces the current House and Land Tax and Land Development Tax.
New Tax Amnesty
On 25 March 2019, the Government published the Act to Waive Tax Penalties and Surcharges and Criminal Liability to Support Tax-related Operations under the Revenue Code, 2562 B.E., in the Government Gazette. This Act became effective on 26 March 2019.
Tax Incentives for ROH, IHQ, and ITC Cancelled
The Thai Revenue Department previously confirmed that entities currently operating under the Regional Operating Headquarters (ROH), International Headquarters (IHQ), and International Trading Centre (ITC) regimes would, in principle, be allowed to continue to do so, and to receive incentives already granted, until they are set to expire, unless they decided to switch to the new regime known as an International Business Centre (IBC).
No cheques for personal income tax refunds
As set out in Revenue Department Newsletter no. 15/2019 on 2 January 2019, for taxpayers who file personal income tax returns electronically (through www.rd.go.th or the Smart Tax application) and claim a tax refund for 2018, the Revenue Department will send the tax refund to the taxpayer’s PromptPay account electronically, and will no longer issue cheques.