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.
Personal Income Tax Deductions For Flood Victims
With the announcement of Ministerial Regulation No. 288, individual taxpayers affected by the floods are now entitled to claim personal income tax deductions of up to Baht 100,000.
Tax Incentive Scheme Announced by the BOI
The Board of Investment (‘BOI’) has announced an additional tax incentive scheme for new investment projects in the flood affected areas. This is expected to encourage both new and existing investors to continue to investment in BOI promoted industrial estates or zones in Pathum Thani and Ayutthaya.
Thai Revenue Department Allows Electronic Invoicing
The Thai Revenue Department has recently issued a departmental regulation which allows approved VAT registrants to raise and send tax electronic invoices and receipts to their customers for whole or partial sale of goods or provision of services. Therefore, there will be no requirement to print out and deliver those documents in hard copy.
Mazars Thailand Tax Update - Personal Income Tax Returns
Any person having assessable income in the year 2011 must file a PND 90 or PND 91.
The submission can be done online via the Revenue Department’s website or in paper to any Area Revenue Office.
The submission can be done online via the Revenue Department’s website or in paper to any Area Revenue Office.
Changes in Regional Operating Headquarter Rules
One of the drawbacks of the second Regional Operating Headquarter (‘ROH’) regime announced in 2010 was that if the company was unable to meet the specified conditions in any particular year, the Revenue Department would retrospectively cancel the tax privileges from year 1. Some of these criteria included maintaining a minimum level of operating expenses and/or capital expenditure per year as well as maintaining a minimum level of skilled workers in the company.