New SME tax rates

In September 2015, the government approved a measure proposed by the Ministry of Finance to support small and medium enterprises (SMEs) by applying the following corporate income tax rates to SMEs.

Keywords: Mazars, Thailand, Tax, Revenue Department, PND 50, SMEs, Ministry of Finance

22 April 2016

Net taxable profit (in Thai baht) Current tax rate Proposed tax rate
Less than 300,000 0% 0%
From 300,000 to 3 million 15% 10%
More than 3 million 20% 10%

The proposed tax rates would apply for two consecutive accounting periods, commencing on or after 1 January 2015. Currently, this proposal has not been passed into law. However, the Revenue Department has changed the corporate income rate on the tax return form (PND 50) on the internet in respect of these reduced tax rates. Therefore, we believe that the reduced rates will become law, and a taxpayer that is an SME may apply these reduced tax rates for its 2015 tax year.

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