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.
Tax filing deadline extensions - April 2021
On 28 January 2021, the government extended the deadlines for filing returns for and paying personal income tax, withholding tax, and value-added tax. In addition, on 30 April 2021, the deadlines for filing returns for and paying corporate income tax were extended.
Reduction of land and building tax by 90% for 2021
On 26 January 2021, the Cabinet approved a draft Royal Decree on reducing taxes on certain types of land and buildings. The purpose of the reduction is to alleviate the tax burden on people and entrepreneurs affected by the COVID-19 outbreak.
Extension of the grace period for filing a tax return electronically
The grace period for filing a tax return electronically of 8 days after the normal deadline was set to expire after 31 January 2021, unless another law was passed extending it. On 15 January 2021, the Revenue Department announced that the grace period of 8 days will be extended for another three years, from 1 February 2021 to 31 January 2024.
Additional deduction for an investment in new machinery
In June 2020, the Government issued Royal Decree No. 695 to allow a company or legal partnership to claim a corporate income tax deduction of 2.5 times (1 time as a normal deduction of depreciation and 1.5 times as an additional deduction) for investments made in new machinery between 1 January 2020 and 31 December 2020 under the rules, procedures, and conditions specified by the Director-General of the Revenue Department.
Tax measures to support the electronic tax system
On 12 January 2021, the Cabinet approved a draft Royal Decree and draft Ministerial Regulation on tax measures to support the electronic tax system.