Corporate income tax refunds through Prompt Pay

On 28 April 2020, it was announced that the Revenue Department will provide corporate income tax refunds via the Prompt Pay system from 1 May 2020. This is another way for taxpayers to request a refund in addition to receiving cheques or wire transfers.

Keywords: Mazars, Thailand, Corporate Income Tax, Refund, Prompt Pay, Royal Department, e-payment

30 April 2020

This tax refund method can be used by a corporate taxpayer which meets the following qualifications:

1. It is a legal entity which has registered for Prompt Pay.

2. It has a tax refund due of less than THB 100 million.

3. It has not changed its corporate status.

For corporate taxpayers that meet all of these conditions, the Revenue Department will consider making a tax refund to the company’s bank account linked to its 13-digit corporate registration number.

For other corporate taxpayers which do not meet these conditions, the Revenue Department will still provide tax refunds by cheque or wire transfer. The goal is for all corporate income tax refunds to be made eventually through Prompt Pay rather than by cheque or wire transfer, to support the national e-payment policy.