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.
Permanent corporate income tax rate of 20%
To enhance the Country's ability to compete in a global economy, the draft Act amending the Revenue Code that permanently reduces the corporate income tax from 30% to 20% has been approved by the Thai National Legislative Assembly.
Tax benefit for first-time home buyers
On 9 February 2016, the Ministry of Finance issued Ministerial Regulation No. 313, which provides details of a tax benefit for first-time home buyers.
Tax Exemption for SMEs
To promote SMEs, the Thai government has issued Royal Decree Number 595 which benefits SMEs in term of corporate income tax. We set below a summary of this law.
Tax Amnesty
To encourage taxpayers to be in good standing, the Thai government has issued the Royal Act for the Exemption and Support of Tax Operations Under the Revenue Code, 2558 B.E., which waives tax audits, investigations, tax assessments, and payment enforcement for all taxes on revenue (corporate income tax, value-added tax, specific business tax, and stamp duty). We set below a summary of this law.
Thai sourced income and residence rules
Thailand will impose personal income tax on income that is derived from Thai sources, regardless of the nationality of recipient of the income, or the jurisdiction in which the payment is made or received. Thailand will also impose personal income tax on a Thai tax resident on his worldwide income.