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 flash news: Further guidance from the Revenue Department on Foreign Sourced Income
On 20 November 2023, the Revenue Department issued Departmental Instruction no. Paw.162 ("DI Paw. 162"), which provides further guidance that the interpretation under the Departmental Instruction Paw.161/2566 ("DI Paw.161") shall not apply to any foreign-sourced income earned by Thai tax residents before 1 January 2024.
Q&A published on foreign-sourced income
Following the issuance of the Revenue Departmental instruction number Paw. 161/2566 ("DI. Paw. 161") in September 2023, the Revenue Department published on its website this month a Q&A concerning the concept, conditions and clarification of tax treatments on foreign-sourced income under the Revenue Code.
Reduced VAT rate of 7% is extended for another year
Royal Decree No. 780, published in the Royal Gazette on 16 September 2023, extends the application of the reduced VAT rate of 7% for another year.
Thai personal income withholding tax to be filed in 2024
To enhance Thailand's Digital Tax Ecosystem, the Revenue Department issued the Notification of the Director-General No. 438, dated 21 September 2024 (BE 2566), to rule that from 2024 onwards, Thai personal income withholding tax return filings (Form PND1 and Form PND1 Gor) must be done via the Revenue Department's e-Filing system, e-Withholding Tax and Withholding Tax Service System-SVS).
Thailand Tax – Foreign-sourced income to become taxable from 2024
On 15 September 2023, the Revenue Departmental instruction number Paw. 161/2566 (“DI. Paw. 161”) was issued, which provides a new interpretation of the personal income tax treatment of foreign-sourced income derived by a Thai individual tax resident under the Revenue Code (the "Code").