Keywords: Mazars, Thailand, Tax, Royal Code, Revenue Department, Penalties, Surcharges, Criminal Fines
10 April 2017
However, the Revenue Department recently issued Board of Taxation Ruling No. 40/2560 which supersedes its view under the 1985 ruling. Under the recent ruling, tax penalties, surcharges, and criminal fines that are non-deductible for corporate income tax purposes include those that are imposed by any tax law. Therefore, if a corporate income taxpayer incurs a penalty, surcharge, or criminal fine that is imposed by a tax law other than the Revenue Code (such as customs law, or excise tax law), it will be non-deductible for corporate income tax purposes under this ruling, as well as under Section 65 ter (6) of the Revenue Code.