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 Measures to Support SMEs
On 9 May 2013 three Royal Decrees were enacted to extend some tax measures launched by the Thai Government to support SMEs* until 31 December 2013.
New VAT Compliance Rules, effective 2014
In an effort to reduce VAT fraud, the Revenue Department has introduced new VAT compliance rules which require a VAT operator to add certain information on tax invoices, debit/credit notes, and VAT records, according to the VAT Notifications 194 – 197.
SMEs Income Tax Exemption Threshold Raised
As a measure to reduce the tax burden and increase financial liquidity for small and medium-sized enterprises (‘SMEs’) affected by the increase in the nationwide minimum daily wage to 300 Baht, which took effect at the beginning of this year, the income tax exemption threshold for SMEs has been raised from 150,000 Baht to 300,000 Baht a year, resulting in new tax bands for SMEs.
Married Couples Allowance for a Disabled Child
Previously, a married couple living under the same roof were each eligible to claim an allowance of only 30,000 Baht per disabled child in the case where the wife filed a separate tax return for her employment income.
Withholding Tax on Chartered Sea-Going Vessels
The announcement of Royal Decree No. 560 on 29 March 2013 reduced the withholding tax under Section 70 of the Revenue Code from 15% to 1% for the rent of a chartered sea-going vessel.