Corporate Income tax rate is a tax collected from companies. Its amount is based on the net income companies obtain while exercising their business activity, normally during one business year. The benchmark we use refers to the highest rate for Corporate Income. Revenues from the Corporate Tax Rate are an important source of income for the government of Thailand.

Both residents (people residing in Thailand for a period or periods aggregating more than 180 days per tax year) and non-residents have to apply for a personal income tax ID and file a personal tax return each year.

Value Added Tax (VAT) has been implemented in Thailand since 1992 replacing Business Tax (BT). The VAT is currently imposed at a rate of 7%, with a few exceptions, such as small entrepreneur whose annual turnover is less than 1.8 million baht. A company must register for Value Added Tax if it is expected that its gross income will exceed 1.8 million baht per annum or within 30 days of the date they reach 1,8 million baht in sales (check for possible changes). Companies registered for VAT must file VAT returns and pay tax (if any) to the local district office monthly, within 15 days from the end of the month which the VAT is to be accounted for (source Thailand revenue department).

Each time the Company pays income to a supplier of services or rent to a landlord, it is required to withhold income tax on behalf of the payee at the rates stipulated in the law. A return of such withholding must be filed by the 7th of the month following that in which the payment was made.

We recognize that proper tax planning can result in significant financial benefits for our clients. Our top priority is to minimize tax exposure of an individual or a company by providing Thailand specific tax planning advice and services. It is also imperative to keep clients advised of changes in Thailand’s tax regulations.

Our service provide tax calculation, submission paper and efiling for your company.