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.
Extension of withholding tax reduction to promote e-withholding tax system
The Thai government previously reduced the withholding tax (“WHT”) rates from 5% and 3% to 2%, through 31 December 2022.
Extended deadlines for e-filing
In January 2021, the Thai Revenue Department issued a notification allowing taxpayers that file tax returns electronically to submit such returns 8 days after the normal deadline for another 3 years (from 1 February 2021 to 31 January 2024).
Payment of stamp duty for electronic instruments
The Revenue Department issued Notifications of the Director-General on Stamp Duty No. 66 and No. 67 on 1 February 2023 to specify the methods to be used for paying stamp duty on electronic instruments executed from 19 August 2022 to 31 December 2023.
Foreign actors granted exemption from personal income tax for five years
Foreign actors granted exemption from personal income tax and will come into effect approximately six months from that date (early in August 2023), grants foreign actors working on films shot in Thailand an exemption from personal income tax for five years
“Shop Dee Mee Kuen” tax rebate scheme
In an effort to boost domestic consumption at the start of the new year and to promote e-tax systems for businesses registered for VAT, the Thai government has provided a personal income tax deduction of up to THB 40,000 for the domestic purchase of goods and services from 1 January 2023 to 15 February 2023.