Thailand: Decree on corporate tax reduction options for SMEs released
On 31 October 2017, Royal Decree (No 647) was published allowing small and medium-sized enterprises (SMEs) to claim a double (200%) corporate tax deduction allowance for expenditure paid out for purchasing or hiring computer software programs
See MoreThailand: New tax, legal requirements for representative offices of foreign companies
According to new Thai rule, a foreign company’s representative office in Thailand is no longer obliged to obtain a foreign business license from the Department of Business Development. Though, the representative office is still subject to other
See MoreDTA between Thailand and Cambodia signed
On 7 September 2017, the Double Taxation Agreement (DTA) between Cambodia and Thailand was signed for the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on income, in Phnom
See MoreThailand: Consultation process of the draft Transfer Pricing rules
The Revenue Department of Thailand is requesting public comments with respect to the Draft Transfer Pricing Rules which were approved by the Thai Cabinet on May 2015. The comments are to be provided by 7 July 2017. Recently, the draft measures were
See MoreThailand Joins the Inclusive Framework on BEPS
Thailand has become the 98th jurisdiction to join the Inclusive Framework (IF) on BEPS and will participate at the next plenary session of the IF with the same rights as the all other IF members, which will take place on 21/22. June 2017 in
See MoreProtocol of DTA between Bahrain and Thailand signed
Bahrain and Thailand has signed an amending protocol of Double Taxation Agreement (DTA) for the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on income in Manama on 25 April
See MoreThailand- new tax on e-commerce to be introduced in April 2017
The Revenue Department of Thailand is planning to enforce a new law to tax cross-border e-commerce transactions by April 2017. Currently, a foreign operator which carries on e-commerce business but does not enter Thailand or does not have any
See MoreThailand- Royal Decree on deduction for depreciable assets
The government of Thailand approved the amendment of Royal Decree No. 604 on 24 January 2017, which was gazetted on 21 April 2016. The amendment permits a 50% additional corporate tax deduction on the expenditure acquired on additions, alterations,
See MoreIMF report comments on fiscal policy of Thailand
On 28 March 2016 the IMF issued a report following discussions in Thailand under Article IV of the IMF’s articles of agreement. The economy of Thailand recovered in 2015 following a slowdown and output reached 2.8%. The recovery is expected to
See MoreThailand-Program for tax audit protection for SME taxpayers
The government of Thailand recently released an emergency decree providing a “tax audit exemption program” which has become effective and available to taxpayers beginning in 2016. According to the program, any kind of tax examination, inquiry,
See MoreThailand-Tax incentives for targeted industries
The Deputy Prime Minister of Thailand announced on 4 January 2016 some further tax incentives for targeted industries. According to the announcement 10% to 15% income tax exemption will be provided for professionals working in targeted
See MoreThailand- Corporate tax rate of 20% becomes permanent
The Royal Cabinet of Thailand ruled on 13 October 2015 that the corporate income tax rate will be permanently kept at 20% effective from 1 January 2016. Previously the rate was reduced to 23% from 30% for the tax year 2012 and temporarily to 20% for
See MoreThailand: Tax incentives for international headquarters
To promote the location of headquarters in Thailand the Board of Investment has introduced a new program. According to the program there will be relief from corporate income tax (0% on non-Thai source income from services, royalties, and dividends,
See MoreThailand: New corporate tax rate limits and incentives for SMEs
The Cabinet of Thailand approved certain corporate tax rate limits for small and medium-sized enterprises (SMEs) on 8 September 2015. The corporate tax rate limits are as follows: Annual net profit (THB) Current tax rate (%) Approved tax rate
See MoreThailand-Tax incentive for the expenditures of research and development (R&D) of technology and innovation
The cabinet of Thailand has passed a tax incentive for the expenditures occurred in the R&D sector of technology and innovation. The tax incentive has become effective as from 1 January 2015 to 31 December 2019. Accordingly a tax deduction of up
See MoreDTA between Singapore and Thailand signed
An Income Tax Treaty between Singapore and Thailand (2015) was signed on 11 June 2015. Once the treaty is in force and takes effect, this new treaty will replace the Singapore - Thailand Income Tax Treaty of
See MoreThailand: Draft Act contains new transfer pricing provisions
The Cabinet of Thailand approved a draft Act on Revenue Code Amendment on 7 May 2015. If enacted the Act would introduce specific transfer pricing provisions into the Revenue Code and also would amend the tax law of Thailand to apply transfer
See MoreThailand: IMF comments on economic and fiscal position
On 7 May 2015 the International Monetary Fund (IMF) issued a staff report resulting from consultations with officials in Thailand under Article IV of the IMF's articles of agreement. Thailand’s growth rate has fallen behind those of its
See More