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.
NACC Requires Additional Reporting on Government Procurement Contracts
The National Anti-Corruption Commission (‘NACC’) has issued a notification requiring private sector entities (including individuals, Thai companies, and foreign companies with a local presence) that enter into procurement contracts with government agencies (including state enterprises) to prepare and electronically submit annual revenue and expense accounts to the Revenue Department together with the e-filing of their Corporate Income Tax returns (PND 50).
Ruling on Filing Separate Tax Returns for Husband and Wife
According to the Notification of the Constitution Court published in the Royal Gazette on 11 July 2012, the Constitution Court ruled that Section 57 ter and 57 quarter of the Revenue Code are unconstitutional (Thai Constitution B.E. 2550 (2007)).
Personal Income Tax Exemptions for Capital Gains
The Ministry of Finance has issued Ministerial Regulation No. 290, to exempt personal income tax on capital gains derived from sales of securities listed on an ASEAN stock exchange.
Mazars Thailand Tax Update - Stamp Duty on Credit Service Agreements
On 7 June 2012, a Notification of the Director-General was issued by the Revenue Department to require that providers of personal credit services, which are under supervision by the law governing the control in business affecting safety and peace of the public, pay duty in cash in lieu of affixing stamps on hire purchase agreements and loan agreements made with their customers.
Personal Income Tax Exemption on Dividends
A Royal Decree was issued on 20 June 2012 to grant the right to Thai resident investors, who receive dividends from shares of a foreign listed company and consents the said company to withhold tax at the rate of 10% from such dividends, to exclude such dividends from their annual personal income tax returns.