New SME tax rates proposed

During the cabinet meeting on 5 September 2015, the government approved a measure for supporting small and medium enterprises (SMEs), as proposed by the Ministry of Finance.

Keywords: Mazars, Thailand, Tax, SMEs, Ministry of Finance

6 October 2015

During the meeting, the following new corporate income tax rates for SMEs were proposed:

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.

Please note that at the time of writing the reduced tax rates are currently still a proposal and have not yet been passed into law.