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Tax Identification in Thailand
Section 3 of the Revenue Code states that a taxpayer in Thailand shall obtain and use a taxpayer identification number (TIN). Currently, a taxpayer identification number is issued but the Revenue Department and comprises of 13 digits. For Thai nationals,…
What Are the Duties of a Taxpayer in Thailand?
As a taxpayer in Thailand, there are certain duties to be complied as follows:- Any taxpayer who does not comply with the law will face civil and criminal action. Hence, it’s highly advisable to contact Thai tax experts like MSNA…
Accounting Period of a Company in Thailand
A company must close its accounting period every year. An accounting period shall be 12 months except in the following cases where it may be less than 12 months: On the other hand, an accounting period of more than 12…
Thailand Personal Income Tax – Interest & Dividends
For Thai personal income tax computation, taxpayers may exclude interest and dividends before filing it with the Thai Revenue Department. The following forms of interest income may be excluded from the computation of Thai personal income tax provided that a…
Tax Resident vs Non-tax Resident in Thailand
We got asked a lot of times about the difference between being a tax resident and a non-tax resident in Thailand when filing the Thai personal income tax returns. Taxpayers in Thailand are classified into resident and non-resident. A tax…
Foreign-Sourced Income That Is Not Subject to Thailand Taxes
For filing of Thai personal income tax returns with the Thai Revenue Department, these are the cases where foreign-based income is not subject to Thai taxes. A foreigner is considered a tax resident of Thailand if he/she has stayed in…
Specific Business Tax Criteria on Real Estate in Thailand
For real estate properties in Thailand, the Department of Lands has set its criteria for payment of Specific Business Tax as follows: MSNA group of companies can assist you in property acquisition and taxation matters. Contact MSNA for your tax…
Updated Tax Exemption for Severance Pay
The government has recently issued a Ministerial Regulation to amend the assessable income tax rates that are exempt from being included in the computation of income tax for severance pay received by employees under the Labor Protection Act in consideration…
VAT Refund for an Export Company in Thailand
Recently, we registered a company engaged in export business. They asked us how they can claim back the VAT that they will pay. This is our answer. Once the company is registered in the VAT system and you buy anything, please always…
Thailand Tax Residents With Foreign-Sourced Income
When a foreigner who is a tax resident of Thailand pays tax on his income abroad, the amount of paid tax can be credited against the tax payable in Thailand. This is applicable only if the country has a Double…