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.
Withholding tax on a rental fee under a leasing agreement
Previously, if a company paid a rental fee to another company under a leasing agreement, it was exempt from paying withholding tax on the rental fee, if the following conditions were met.
Double tax deductions for capital expenditure
The Thai government has recently issued Royal Decree Number 604, which allows 200% deduction of capital expenditure and costs incurred for the addition, alteration, extension, or improvement of an asset for corporate income tax purposes.
Stamp Duty
Stamp duties are payable on most documents filed by companies with Government agencies or entities, and on official company documents. This includes transfers of land, leases of immovable properties, stock transfers, debentures, mortgages, life assurance policies, annuities, power of attorney, promissory notes, letters of credit, cheques etc.
New Thai personal income tax structure
During the cabinet meeting on 19 April 2016, the cabinet agreed to the Ministry of Finance’s proposal to revise the Thai personal income tax structure.
New SME tax rates
In September 2015, the government approved a measure proposed by the Ministry of Finance to support small and medium enterprises (SMEs) by applying the following corporate income tax rates to SMEs.