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.
Opportunity for homebuyers
The cabinet approved measures to boost investments in immovable property, and is now considering reducing property transfer fees from 2% to 0.01%, and mortgage fees from 1% to 0.01% of the appraised value.
Additional “reasonable excuse” for half-year tax
In September 2015, the Revenue Department issued Departmental Regulation No. 152/2558 (which repeals clause 1 of Departmental Regulation No. 50/2537) regarding a “reasonable excuse” for an insufficient estimate of net profits under Section 67 of the Revenue Code.
New SME tax rates proposed
During the cabinet meeting on 5 September 2015, the government approved a measure for supporting small and medium enterprises (SMEs), as proposed by the Ministry of Finance.
Gift Tax
A new regulation on gift tax, as part of personal income tax, was announced on 5 August 2015. The regulation will be effective from 1 February 2016 onwards.
New Provident Fund Act
On 11 August 2015, the new Provident Fund Act (No. 4) 2558 B.E. (2015) was published in the Royal Gazette. The purpose of the new act is to encourage employees to save money.