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.
Inheritance Tax Act
The Inheritance Tax Act was formally announced on 5 August 2015. The act will be effective 181 days after the date of the announcement of the act.
Maximum amount of tax deductible LTF and RMF units
On 2 July 2015, the Revenue Department issued announcement number 257-259 to expand the definition of the base amount which is used for determining the maximum amount of LTF or RMF units that a taxpayer can buy which is deductible from his taxable income.
New Excise Tax Rates on Cars
From 1 January 2016 onward, the Excise Department will impose new tax rates on cars computed on the basis of the rate of carbon dioxide emissions, instead of the engine capacity. This will result in higher prices for cars.
New International Headquarters Incentives
The Thai government issued Royal Decree Number 586 in April 2015. This Royal Decree sets out the new International Headquarters (IHQ) incentives, the qualifications for which are less stringent than those under the current Regional Operating Headquarters (ROH) regime. This should make the IHQ incentives attractive to more companies operating in Thailand.
Tax relief on Donations to Nepal
A cash donation to support the relief efforts following the earthquake in Nepal through “Send Thai Hearts to Nepal” (KrungThai Bank account 067-0-10330-6) can be used as a tax allowance for personal income tax.