Corporate Income Tax Rate Reduction - Mazars - Thailand
Corporate Income Tax Rate Reduction
The corporate income tax rate reductions have been passed into law and come into immediate effect for accounting periods commencing on or after 1 January 2012.
27/01/2012
Keywords: Corporate Income Tax, SMEs, Revenue Department, Thailand
The rates for companies and juristic partnerships are now effective:
- 23% for one accounting period commencing on or after 1 January 2012
- 20% for two accounting periods commencing on or after 1 January 2013
For Small and Medium Enterprises (SMEs) and companies listed on the MAI, the tax rate shall be as follows:
| Tax payer | Net taxable Income (Baht) | Tax rate | Effective Date |
| SMEs* | Not exceeding 150,000 | Exempted |
Accounting period commencing on or after 1 January 2012 |
| 150,000-1,000,000 | 15% |
Accounting period commencing on or after 1 January 2012 |
|
| Over 1,000,000 | 23% |
Accounting period commencing on or after 1 January 2012 |
|
| Over 1,000,000 | 20% |
Accounting periods commencing on or after 1 January 2013 |
|
| Company listed on the MAI | Not exceeding 50,000,000 | 25% |
Accounting periods commencing on or after 1 January 2011 |
| (Excluding the company entitled to tax at 20%) | All income | 23% |
Accounting period commencing on or after 1 January 2012 |
| All income | 20% | Two accounting periods commencing on or after 1 January 2013 |
SMEs* are registered companies or partnerships which have:
- paid-up capital as at the end of accounting period of not more than Baht 5 million; and
- total revenue from sales of goods and rendering of services of not more than Baht 30 million.
Revenue Department announcements:
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