The Revenue Department of Thailand announced an opportunity for SMEs to re-submit correct tax returns without penalty and surcharge, that covers outstanding corporate income tax, value added tax, specific business tax, withholding tax, and stamp duty.
The law shall come into force on 26th March 2019. Taxpayers must register on the Revenue Department’s website from 1st April 2019 – 30th June 2019 and must continue to use e-filing for at least 1 year.
The characteristics of qualified taxpayers are following:
- Being businesses whose income are not exceeding 500 million Baht for the accounting period which is a twelve month period ending before or on 30th September 2018;
- Filing P.N.D.50 for the accounting period ending before or on 30th September 2018 by 25th March 2019;
- Not being recorded as having issued or used false tax invoices for the cases that the Revenue Department has brought before the police under criminal law by 25th March 2019.
