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.
Stamp Duty Payment
The Revenue Department has issued a Notification of the Director-General of Revenue on Stamp Duty No. 54, effective from 4 April 2015. This Notification expands the scope of dutiable instruments for which duty must be paid by cash, instead of affixing stamps.
Repeal of Tax Exemption
According to Section 42 (14) of the Thai Revenue Code, the share of profits obtained from an ordinary partnership or a non-juristic body of persons, but not including shares of profits received from a mutual fund, will be exempt from Thai personal income tax.
Tax E-filing Deadline Extended
The Revenue Department issued an extension to the deadline for tax e-filing. The incentive provides those who voluntarily registered for e-filing an additional eight days to pay monthly and annual tax liabilities.
Tax Incentives on Personal Travel Costs
The Revenue Department has announced Ministerial Regulation No. 305, dated 15 December 2014, which allows a personal income tax payer to deduct expenses paid to Thai tourist industry service providers, tour guides and hotels, against his or her income. The deductible amount is capped at THB 15,000.
New Year Need Not Be Taxing
New year is a time for giving but all companies need to consider the potential tax impact of those employee gifts and new year parties. In this article Mazars addresses the Personal Income Tax, Corporate Income Tax and VAT implications of a variety of typical new year expenditure.