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.
Change in ID Used for Tax Filing
The Revenue Department has announced that a company must use its Corporate ID from 1 February 2012 onwards. Therefore, a newly incorporated company does not have to request for a Tax ID.
Signboard Tax in Thailand
This tax may be imposed at various rates per square meter (depending on the language) on any signs or billboards which display a name, trademark or product for the purpose of advertising or providing information on businesses.
Another Flood Relief Measure for Individuals
On 4 January 2012, the Cabinet approved another flood relief measure for individuals affected by floods during 25 July 2011 to 31 December 2011. This tax deduction will apply to repairs and maintenance of immovable properties and vehicles.
Depreciation Allowance for Energy Saving Assets
The Thai Revenue Department has announced that energy saving assets will receive an additional 25% depreciation allowance (i.e. 125% depreciation on the acquisition cost). This is granted as a tax deduction for the computation of both personal and corporate income tax.
Donations that Cannot be Deducted from Income Tax
An additional income tax deduction of 50% (over and above the 100% deduction previously allowed) will now be granted to any person that donates money or goods to any company, juristic partnership or juristic person who acts as an agent for the distribution of donated goods and money to victims of natural disasters during the period 1 September 2011 to 31 December 2011.