Corporate income tax exemption from government projects
Keywords: Mazars, Thailand, Tax, COVID-19, Social Security Act, SMEs, Ministry of Labour, Corporate income tax
14 February 2022
- Compensation received under the employer and insurer's compensation programme under Section 33 of the 1990 Social Security Act for businesses affected by government measures in those areas with the highest levels of restrictions and with higher levels of restrictions.
- Subsidies received under the project to promote and maintain the level of employment in SMEs launched by the Department of Employment, Ministry of Labour.
The SME must not claim a deduction for expenses paid from the subsidies under such projects when calculating net profit for corporate income tax purposes for the accounting period in which money has been received under the two aforementioned projects.