Keywords: Mazars, Thailand, Tax, Royal Decree, PIT, VAT, Stamp duty, Tax benefits
20 September 2017
We also noted that the tax benefits under these laws do not include the transfer of an unregistered partnership or a body of persons.
However, in August 2017, the Thai government issued Royal Decree No. 644, which extends the scope of tax benefits to include the transfer of an unregistered partnership or a body of persons. Thus, under this recent law, subject to certain conditions, there will be an exemption from personal income tax, value-added tax, specific business tax, and stamp duty on the transfer of an individual’s, unregistered partnership, or a body of persons’ property to a company or legal partnership registered under Thai law, the execution of an instrument related to such a transfer, and the sale of goods by an individual, unregistered partnership, or a body of person to such a company or legal partnership.