According to the Revenue Department, a taxpayer who resides in Thailand and receives dividends from a juristic company or partnership registered in Thailand is entitled to a tax credit of 3/7 of the amount of dividends received. In computing his assessable income, the taxpayer should gross up his dividends by the amount of the tax credit received. The amount of tax credit is creditable against his personal income tax liability of the same year.

Moreover, a taxpayer who resides in Thailand and receives dividends or shares of profits from a Thai registered company or a mutual fund whose tax has been withheld at source at the rate of 10% may choose to exclude such dividends from his assessable income when calculating his Personal Income Tax. However, in doing so, the taxpayer will be unable to claim any refund or credit as explained in the above paragraph.

Thai personal income tax returns must be filed within 31st March of the year following the year in which the income was received. Contact MSNA for computation and filing of your PIT returns before the due date and further consultation on Thai taxation.