Thailand-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 MoreThailand: IMF reports on preliminary findings
The IMF has completed a mission to Thailand from 15 to 29 January 2015 to hold discussions in connection with the Article IV Consultation. The IMF is expecting Thailand to continue a gradual economic recovery in 2015 and growth is estimated at 3.5%.
See MoreFuture of the ASEAN Economic Community Discussed in Thailand
The “AEC+3 Summit and Expo” convened in Bangkok on 3 November 2014. The event aimed to encourage Thailand’s businesses to invest more in the other countries of the Association of South East Asian Nations (ASEAN) and to promote Thailand as an
See MoreThailand: Reduces tax rate for 2015
The cabinet of Thailand has approved a royal decree reducing corporate and personal income tax for the year 2015. The reduced tax rate for companies having net profit over THB1m (USD31,000) will be 20% for the year 2015 which was 23% in the tax year
See MoreThailand-Proposal on changes to VAT rate during 2014 and 2015
The government of Thailand has announced a proposal according to which if approved the value added tax rate would be reduced from 7% to 6.3% between 1 October 2014 and 30 September 2015. On the other hand an additional new, local sales tax rate of
See MoreThailand Government agrees to keep 7% VAT rate for one more year
The government of Thailand has announced to keep the country’s VAT rate on 7% for one more year. The Previous Thai governments had planned to raise the VAT to 10% but now this has been postponed for one more
See MoreThailand may face VAT rate increase
The VAT rate in Thailand may need to be increased from 7 percent to 10 percent as the economic growth slows down. The 7 percent rate was intended as a temporary measure but has continued for some time. The measure had been extended by a government
See MoreThailand: Tax Revenue deficit
Ongoing political unrest in Thailand could lead to a fall in tax collection and missed targets, according to the Fiscal Policy Office. Collections in the opening months of 2014 have however risen a little above the predicted amounts. The Fiscal
See MoreEstonia – Six new DTA in effect
From 1 January 2014, six new Double Tax Treaties (DTA) were added to Estonia’s income tax treaty network. The treaties are with Bahrain, Thailand, Cyprus, Mexico, Turkmenistan, and
See MoreDTA between Thailand and Ireland
The governments of Thailand and Ireland signed a double taxation agreement on 4 November 2013. In Thailand the agreement will apply to income tax and petroleum income tax and in Ireland the agreement will apply to income tax, corporation tax and
See MoreThailand- Plans to Delay FATCA Deadline by Six Months
Thailand will postpone its deadline to become compliant with the U.S. Foreign Account Tax Compliance Act by six months, which is to June 2014. Thailand had hoped to be FACTA-compliant by 31 December but gridlock in Washington and Thailand’s own
See More