CIT and PIT Cuts Maintained
The tax rate for non-SME companies has been temporarily reduced by Royal Decree No. 530 issued by the previous Government from the statutory flat rate of 30% prescribed by the Revenue Code to the temporary rate of 20% which is set to expire at the end of the 2014 accounting period.
Keywords: Mazars, Thailand, Tax, Revenue Code, Royal Decree No. 530, Royal Decree No. 575
08 October 2014
Similarly, the personal income tax is also being reduced by the Royal Decree No. 575 from the statutory progressive rates of 5% - 37% to the temporary rates of 0% - 35% set to expire on 31 December 2014.
On 16 September 2014, the new Cabinet approved two draft royal decrees to extend the reduced rates of corporate and personal income tax for another year.
These two draft decrees will then be presented to the King for signature.