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.
Married Couples Allowance for a Disabled Child
Previously, a married couple living under the same roof were each eligible to claim an allowance of only 30,000 Baht per disabled child in the case where the wife filed a separate tax return for her employment income.
Withholding Tax on Chartered Sea-Going Vessels
The announcement of Royal Decree No. 560 on 29 March 2013 reduced the withholding tax under Section 70 of the Revenue Code from 15% to 1% for the rent of a chartered sea-going vessel.
A Reminder of the NACC’s Requirements
According to the Notification of the National Anti-Corruption Commission (‘NACC’) dated 11 August 2011, private sector entities (including individuals, Thai companies, and foreign companies with a local presence) that enter into procurement or subsidy contracts with government agencies (including state enterprises, public organizations, organizations established under the Constitution of Thailand, or other government units as prescribed by the NACC) are required to file revenue and expense accounts to the Revenue Department together with the filing of annual income tax returns.
Tax Measures to Promote National Sport
To promote and develop sport in Thailand, the government has announced Royal Decree No. 559, which grants a 200% allowance for personal income tax purposes and a 200% deduction for corporate income tax purposes for donations made to the Sport Authority of Thailand, the Provincial Sport Committee, the Provincial Sport Association, the Sport Association of Thailand, the Department of Physical Education or the National Sport Development Fund for procurement of sport equipment, sport training or sport competition.
Jewellery Industry Tax Incentives
To promote Thailand as an international gem and jewellery trading centre, the Thai government has issued new legislation.