New SME tax rates proposed
Keywords: Mazars, Thailand, Tax, SMEs, Ministry of Finance
6 October 2015
During the meeting, the following new corporate income tax rates for SMEs were proposed:
Net taxable profit (in Thai baht) | Current tax rate | Proposed tax rate |
Less than 300,000 | 0% | 0% |
From 300,000 to 3 million | 15% | 10% |
More than 3 million | 20% | 10% |
The proposed tax rates would apply for two consecutive accounting periods, commencing on or after 1 January 2015.
Please note that at the time of writing the reduced tax rates are currently still a proposal and have not yet been passed into law.