Corporate Income Tax In Thailand

Unfortunately, even in Thailand one has to pay taxes, but happily not at the high rates prevailing in your home country. Corporate Income Tax in Thailand is a direct tax levied on a juristic company or partnership which is established under Thai or foreign law, and which carries on business in Thailand, or derives certain types of income from Thailand.

The term “Juristic company or partnership” (hereafter referred to as ‘company’) applies to all limited companies, limited partnerships and registered ordinary partnerships incorporated under Thai or foreign law, as well as associations and foundations that produce revenue.

Any joint venture and any trading or profit-seeking activity carried on by a foreign government or its agency, or by any other juristic body incorporated under a foreign law is also included under the term.

Corporate Income Tax Thailand

Overview of Tax in Thailand:

The tax categories liable to pay tax to The Revenue Department of the Ministry of Finance are:

  • Corporate income tax
  • Value Added Taxes (or Specific Business Taxes)
  • Stamp duty
  • Personal income tax

Thai Corporate Tax

  • This is levied on the gross profits of your company in accordance with the Revenue Code of Thailand
  • Every return must be accompanied by audited financial statement
  • 50% of the estimated annual income tax must be paid by the end of the eighth month
  • Failure to pay the estimated (or, 50% of estimated?) will result in a fine which amounts to 20% of the deficit.

Contact us for all the advice that you will need to understand and comply with the tax environment in Thailand.

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