The government of Thailand has reduced the corporate tax rate from 23% to 20% this year. No further help will be provided to SMEs with revenues up to THB 50 million.
The Cabinet of Thailand has approved a package of tax measures proposed by the Ministry of Finance to provide help to small and medium-sized enterprises.
According to the approved measures, the annual income tax exemption for SMEs will be extended from THB150,000 to THB300,000 in 2013. For SMEs with annual profits between THB300,000 and THB 1million, the corporate tax rate will be 15%. The normal corporate tax rate of 20% would apply for profits above THB 1 million.
