What Are The Corporate Tax Obligations For Companies In Thailand?

If you are keen in doing business in Thailand, you need to visit a top accounting service firm based in Thailand. Setting up business in Thailand is relatively easy as compared to many other Asian nations in the region. The corporate income tax is paid by almost any company that is set up under the company act or the partnership law of the country. The businesses are subjected to taxes on all sources of income that originate both from within and outside of the country.

Doing business in Thailand
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1 – Corporate income taxes are imposed of all the profits that limited companies, joint ventures and limited liability partnerships accrue in a financial year. Many foundations and financial service companies, foreign subsidiaries of multinational corporations also pay the corporate income tax in Thailand. As a taxpayer in Thailand, you should remember the following things:

2 – As a corporate tax payer, you should be able to post returns with the government on your income after having issued an audited financial statement. There are set regulations that need to be followed in Thailand.

3 – You also have to pay about 50 per cent of the annual income tax after the end of the 8th month. You can be fined about 20 per cent of the deficit if you fail to pay the taxes on your income over a year.

4 – However, dividends may get some exemptions. A Thai company may remain exempt from the taxation on any dividend it receives and there should hold at least 25 per cent of the total shares in the paying company. Thai companies that are listed on the Thailand Stock Exchange, are not liable to pay taxes on any dividends they receive from affiliates and parent companies, if they comply with certain laws.

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