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.
A Reminder of the NACC’s Requirements
According to the Notification of the National Anti-Corruption Commission (‘NACC’) dated 11 August 2011, private sector entities (including individuals, Thai companies, and foreign companies with a local presence) that enter into procurement or subsidy contracts with government agencies (including state enterprises, public organizations, organizations established under the Constitution of Thailand, or other government units as prescribed by the NACC) are required to file revenue and expense accounts to the Revenue Department together with the filing of annual income tax returns.
Tax Measures to Promote National Sport
To promote and develop sport in Thailand, the government has announced Royal Decree No. 559, which grants a 200% allowance for personal income tax purposes and a 200% deduction for corporate income tax purposes for donations made to the Sport Authority of Thailand, the Provincial Sport Committee, the Provincial Sport Association, the Sport Association of Thailand, the Department of Physical Education or the National Sport Development Fund for procurement of sport equipment, sport training or sport competition.
Jewellery Industry Tax Incentives
To promote Thailand as an international gem and jewellery trading centre, the Thai government has issued new legislation.
Changes in Tax Filing Options for Married Couples
As a result of the Emergency Decree Amending the Revenue Code (No. 18), the Revenue Department has amended the existing rules on personal income tax (‘PIT’) pertaining to married couples’ tax filing for the 2012 tax year and subsequent years.
Using the 13 Digit Tax ID Number
The Revenue Department has extended the deadline for full enforcement of the 13 digit tax identification number from the previously announced date of 31 January 2013 to 31 July 2013.