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

Consent required for interest on savings to be tax exempt

On 4 April 2019, the Revenue Department issued Notification of the Director-General of the Revenue Department Regarding Income Tax No. 344 (“the Notification”). The Notification sets out rules, procedures, and conditions for interest from savings accounts being exempt from personal income tax.

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Deposit and Transfer Transactions Reporting

On 20 March 2019, the Government published the Act to Amend the Revenue Code (No. 48), 2562 B.E., in the Government Gazette. This Act became effective on 21 March 2019.

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New Land and Building Tax Act

On 12 March 2019, the Land and Building Tax Act, 2562 B.E., was published in the Government Gazette, and became effective on the following day. However, tax collection for land and buildings under this Act will come into effect on 1 January 2020. This Act replaces the current House and Land Tax and Land Development Tax.

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New Tax Amnesty

On 25 March 2019, the Government published the Act to Waive Tax Penalties and Surcharges and Criminal Liability to Support Tax-related Operations under the Revenue Code, 2562 B.E., in the Government Gazette. This Act became effective on 26 March 2019.

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Tax Incentives for ROH, IHQ, and ITC Cancelled

The Thai Revenue Department previously confirmed that entities currently operating under the Regional Operating Headquarters (ROH), International Headquarters (IHQ), and International Trading Centre (ITC) regimes would, in principle, be allowed to continue to do so, and to receive incentives already granted, until they are set to expire, unless they decided to switch to the new regime known as an International Business Centre (IBC).

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