The Revenue Department has recently set the condition for a Specific Business Tax exemption on certain businesses. Under the Royal Decree no. 571, such conditions are as follows:

On Employees Loan

– Interests from loans to employees by policy of a provident fund or other similar funds which give loan to employees for the company or registered ordinary partnership.

On Inter-company Loan

– Inter-company loans between companies not carrying on business of commercial banks, finance companies including payment for bills of exchange issued by or deposits made to financial institutions under the law on the financial institution in return for normal interest rate.

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