The corporate income tax rate reductions have been passed into law and come into immediate effect for accounting periods commencing on or after 1 January 2012.
Keywords: Corporate Income Tax, SMEs, Revenue Department, Thailand
The rates for companies and juristic partnerships are now effective:
- 23% for one accounting period commencing on or after 1 January 2012
- 20% for two accounting periods commencing on or after 1 January 2013
For Small and Medium Enterprises (SMEs) and companies listed on the MAI, the tax rate shall be as follows:
SMEs* are registered companies or partnerships which have:
- paid-up capital as at the end of accounting period of not more than Baht 5 million; and
- total revenue from sales of goods and rendering of services of not more than Baht 30 million.
Revenue Department announcements: