Tax Section - Doing Business
You will find here a series of summaries providing an overview of useful tax regulations, processes and tax issues for Doing Business in Thailand.
Reduction in Social Security Fund contributions
On 11 April 2022, a ministerial regulation on the reduction of Social Security Fund contributions was published in the Royal Gazette.
Deduction for the purchase of COVID-19 antigen self-test kits
Under Royal Decree No. 733, a company or legal partnership can claim a tax deduction of 1.5 times (1 time as normal deduction and 0.5 times as an additional deduction) the amount paid for the purchase of COVID-19 antigen self-test kits for its own employees. This tax measure ended on 31 March 2022.
Additional deduction for the purchase of biodegradable plastic products
Under Royal Decree No. 702, a company or legal partnership can claim a tax deduction of 1.25 times (1 time as a normal deduction and 0.25 times as an additional deduction) the amount paid for the purchase of biodegradable plastic products. However, this tax measure ended on 31 December 2021.
Extension of deadline for filing transfer-pricing disclosure form for 2020
On 25 March 2022, the Ministry of Finance issued Notification No. 2 extending the deadline for filing the transfer-pricing disclosure form for 2020.
VAT and personal income tax exemption for trading cryptocurrencies or digital tokens
The rules regarding the taxation of trading cryptocurrencies is becoming clearer with VAT and personal income tax exemptions announced.