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.
New SME tax rates proposed
During the cabinet meeting on 5 September 2015, the government approved a measure for supporting small and medium enterprises (SMEs), as proposed by the Ministry of Finance.
Gift Tax
A new regulation on gift tax, as part of personal income tax, was announced on 5 August 2015. The regulation will be effective from 1 February 2016 onwards.
New Provident Fund Act
On 11 August 2015, the new Provident Fund Act (No. 4) 2558 B.E. (2015) was published in the Royal Gazette. The purpose of the new act is to encourage employees to save money.
Inheritance Tax Act
The Inheritance Tax Act was formally announced on 5 August 2015. The act will be effective 181 days after the date of the announcement of the act.
Maximum amount of tax deductible LTF and RMF units
On 2 July 2015, the Revenue Department issued announcement number 257-259 to expand the definition of the base amount which is used for determining the maximum amount of LTF or RMF units that a taxpayer can buy which is deductible from his taxable income.