Blog
Tax Incentives under the Investment Promotion Act
The Thai BOI grants the promoted activities with tax and non-tax incentives. In order to obtain investment promotion, the BOI applicant must follow the conditions prescribed by the Board of Investment as specified in the BOI promotion certificate in which…
Reimbursement of Expenses From an Overseas Based Company
When an employee of a Thai company incurred expenses for an overseas business trip which can be refunded from the organizers abroad, the Thai company can payback its employee for the expenses incurred and reimbursed it from such overseas based…
Tax Burden on Interests From Profits
In Thailand, individual and corporate investors have different tax rates on interest based on profits from investment in debt instruments. For domestic investors, withholding tax rate for individuals is 15% and they can choose not to include it in their…
Confirmation of Monthly VAT Report
Our monthly accounting and tax services include preparation of the compulsory input VAT and output VAT reports for the clients. We deliver everything as promised within the agreed upon deadline and make sure that the client’s accounts are prepared accurately….
Valuation of Land in Thailand
One of our tax clients asked us on how to revalue the land and houses in Thailand. Normally, land ownership is not possible to foreigners but there are certain ways on how foreigners can own land in Thailand. Our client…
Company in Thailand making payments to Overseas
One of our accounting and tax clients consulted with us regarding a Thai company making payments to its vendors overseas. In response, we explain that when a company in Thailand wants to make payments to overseas, one needs to consider…
Corporate Income Tax Rates in Thailand
One of the questions our clients ask us the most is how much tax rate to use when calculating Corporate Income Tax in Thailand. The corporate income tax rates depends on the amount of capital and its net income during…
Withholding Tax on Software License Orders
One of our accounting and tax clients wants some clarification regarding how withholding taxes in Thailand work particularly the withholding taxes on software license transactions. Question: Could you kindly confirm whether the 3% withholding tax rate applies universally to all…
Submission of Annual Financial Statements in Thailand
In Thailand, businesses are required to submit its audited financial statements annually with the Department of Business Development and the Revenue Department. For the Revenue Department, the audited financial statements must be submitted with the Corporate Income Tax Return (PND….
Deadline for Submission of Corporate Income Tax
Thai and foreign companies doing business in Thailand are required to file their Corporate Income Tax returns (Form PND 50) within 150 days from the closing date of their accounting period. Tax payment must be submitted together with the tax…