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.
Tax incentives for the sale of gold bars
In November 2017, the Thai government approved draft laws that reduce and exempt taxes for the sale of gold bars under a forward contract.
Corporate income tax exemption on subsidies
Under the laws for enhancing the competitiveness of the country for targeted industries, there are many investment privileges and benefits given to businesses in such industries.
Personal income tax benefits for employees
As set out in our tax article for July 2017, the Thai government issued Royal Decree Number 641 giving personal income tax benefits to an employee (“the Employee”) of a company or legal partnership that conducts business in a targeted industry, and has its place of business (defined as a place that is used in the normal course of business or used for manufacturing goods on a regular basis) in Chachoengsao, Chonburi, or Rayong Provinces.
Tax benefits to register a company
In our tax articles for February and April 2017, we noted that the government issued laws which encourage individuals who conduct business to register a company or legal partnership. Under such laws, subject to certain conditions, there will be an exemption from personal income tax, value-added tax, specific business tax, and stamp duty upon the transfer of an individual’s property to the company or legal partnership registered under Thai law, the execution of an instrument related to such a transfer, and the sale of goods by an individual to such a company or legal partnership.
Tax deduction for the purchase of computer software
In late June 2017, the Thai government approved a draft law which allows a corporate income taxpayer to deduct (in addition to the normal depreciation or deductible amount) the acquisition cost of software.