Due date for filing of corporate income tax form for the accounting year ended 31 December 2013
Private company, public company, juristic partnership, foundation and association or any other legal entity with accounting period ended 31 December 2013 are required to file the annual corporate incom tax (Por Ngor Dor 50, Por Ngor Dor 52, Por Ngor Dor 55) on this Friday, 30th May 2014 (within 150 days from the accounting period ending date). For online filing, the due date will be extended for 8 days, and since it falls on a government holiday, the last day for online filing is on Monday, 9th June 2014.
Please make sure that you file the tax forms correctly and accurately. Contact MSNA for your Thailand accounting and tax questions.
Proposed extension of reduction of VAT and Corporate Income Tax Rate
The Director-General of the Revenue Department has recently proposed some tax measures to the Minister of Finance. Such measures are as follows:
- Extension of 7% standard rate of VAT for an additional year after the current reduction (from 10%) expires on 30 September 2014;
- Extension of 20% corporate income tax rate for an additional year after the rate expires at the end of the 2014 accounting period.
Once it got approved by the Ministry of Finance, the proposals will be passed to the Cabinet for review.
Contact MSNA for your Thai accounting and tax questions.