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 measures for companies impacted by the global minimum tax announced by the Board of Investment of Thailand (“BOI”)
The BOI has announced new measures to ensure that Thailand complies with the Global Minimum Tax introduced by the Organization for Economic Co-operation and Development (“OECD”) while still being attractive for inbound investment.
Extension of tax deduction for investing in an electronic tax system
Royal Decree No. 766, published in the Royal Gazette on 1 June 2023, extends the double tax deduction that corporate taxpayers can claim for investments in e-tax systems to 31 December 2025.
Thailand on implementing Global Minimum Tax Rules under OECD's BEPS 2.0 Pillar Two
As part of updating its tax laws to comply with the inclusive framework on Base Erosion and Profit Shifting (BEPS) developed by the Organization for Economic Co-operation and Development (OECD), Thailand announced a plan to implement Global Minimum Tax rules, targeting large multinational enterprises (MNEs) with a total consolidated group revenue above EUR 750 million.
Reduction in tax on land and buildings
As part of the Thai government’s efforts to reduce the tax burden and to support economic recovery, Royal Decree on the Reduction in Tax on Certain Types of Land and Buildings (No. 3), 2566 B.E. (2023) (“the Royal Decree”) was published in the Government Gazette on 19 March 2023 and became effective on 20 March 2023.
Thailand to start the automatic exchange of information this year
The Emergency Act on the Exchange of Information, 2566 B.E. (“the Act”), was published in the Royal Gazette on 30 March 2023.