You will find here a series of summaries providing an overview of useful tax regulations, processes and tax issues for Doing Business in Thailand.

Non-deductible tax penalties, surcharges and fines

Under the Revenue Department’s Board of Taxation Ruling No. 10/2528 issued in 1985, tax penalties, surcharges, and criminal fines that are non-deductible for corporate income tax purposes only include those that are imposed under the Revenue Code.

Measure to encourage individuals

In our tax article for August 2016, we noted that the government had put together a proposal to encourage individuals who conduct business to register a company or legal partnership.

BOI Exemption from Income Tax

Previously, if a company received investment incentives from the Board of Investment of Thailand, where such incentives included an exemption from corporate income tax on profits made by the business for a certain period, the dividends paid out from such profits were exempt from income tax for the recipient, but only if they were paid during the tax holiday.

e-Filing Deadline Extended Again

In October 2016, the Thai Revenue Department issued a notification allowing a taxpayer that files a tax return electronically to submit the return 8 days after the normal deadline, for another two years (until 31 January 2019). We set below a table that summarizes the deadlines for filing tax returns, both on paper and electronically.