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 Exemption for Political and Southern Unrest
On 25 October 2013, Royal Decree No. 567 was announced to grant an exemption from personal income tax and corporate income tax on Government compensation received by individuals and companies or juristic partnerships who are the victims, affected or damaged by the political unrest and southern unrest.
PIT Exemption for Cars Replaced after the Floods
On 22 October 2013, Ministerial Regulation No. 300 was announced to grant a personal income tax exemption on Government excise tax rebates received by flood victims for buying a new car to replace a damaged one, following the Cabinet’s resolution on 4 January 2012.
Tax Incentives for Overseas Trade Fairs
Royal Decree No. 569, published in the Royal Gazette on 20 November 2013, allows a double tax deduction for corporate income tax purposes for expenses (i.e. rentals, construction costs, insurance premiums, freight including other costs of transportation of goods and equipment) incurred in participation in a trade fair, a goods exhibition, or an expo, which is held overseas during 1 January 2013 to 31 December 2014 and only for expenses paid during this timeframe.
Tax Ruling on IT Services by an Overseas Company
Company A is incorporated under Thai law and engages in the business of advertising. Company A entered into a service agreement with Company B, which is a company incorporated under Singapore law. Under the terms of the agreement, Company B provided services related to Information Technology such as internet access service, data network service, firewall management and others.
VAT Implications on a Virtual Office
Company A carried on the business of providing virtual office space by renting a floor in a building and dividing this space into several units, then renting each unit to be used as virtual office.