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.
Corporate income tax exemption for benefits received for government projects
As approved by the Cabinet on 24 January 2022, Royal Decree No. 747 on providing corporate income tax exemptions for a company or legal partnership receiving benefits for government projects in order to mitigate the impact of the COVID-19 outbreak was published in the Royal Gazette on 24 May 2022.
Update on the transfer-pricing disclosure form
In addition to the annual corporate income tax return, the following companies or legal partnerships are also required to file a transfer-pricing disclosure form.
Reduction in Social Security Fund contributions
On 11 April 2022, a ministerial regulation on the reduction of Social Security Fund contributions was published in the Royal Gazette.
Deduction for the purchase of COVID-19 antigen self-test kits
Under Royal Decree No. 733, a company or legal partnership can claim a tax deduction of 1.5 times (1 time as normal deduction and 0.5 times as an additional deduction) the amount paid for the purchase of COVID-19 antigen self-test kits for its own employees. This tax measure ended on 31 March 2022.
Additional deduction for the purchase of biodegradable plastic products
Under Royal Decree No. 702, a company or legal partnership can claim a tax deduction of 1.25 times (1 time as a normal deduction and 0.25 times as an additional deduction) the amount paid for the purchase of biodegradable plastic products. However, this tax measure ended on 31 December 2021.