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.
New Transfer Pricing Regulations
At the Cabinet meeting on 7 May 2015, the Cabinet approved a draft bill to amend the Revenue Code which will add a provision to define the criteria for determining the transfer price between controlled or related entities.
Changes to the Provident Fund
The Cabinet has approved the amendment of the Provident Fund Law, which should come into effect this year. An employee can currently contribute into a provident fund at the same rate matched by the employer.
Stamp Duty Payment
The Revenue Department has issued a Notification of the Director-General of Revenue on Stamp Duty No. 54, effective from 4 April 2015. This Notification expands the scope of dutiable instruments for which duty must be paid by cash, instead of affixing stamps.
Repeal of Tax Exemption
According to Section 42 (14) of the Thai Revenue Code, the share of profits obtained from an ordinary partnership or a non-juristic body of persons, but not including shares of profits received from a mutual fund, will be exempt from Thai personal income tax.
Tax E-filing Deadline Extended
The Revenue Department issued an extension to the deadline for tax e-filing. The incentive provides those who voluntarily registered for e-filing an additional eight days to pay monthly and annual tax liabilities.