We are selling domestic animal feeds and decided to put up a signboard just outside our shop. Are we liable for any taxes? Please advice.
Yes, in Thailand, owners of signs or billboards, which display a name, trademark or product to promote, advertise or provide information about a business, are subject to the annual signboard tax. The rate of tax varies according to the size of the signboard and the language written on the board.
Owners of signboards are required to file signboard tax return (Phor Phor 1) with the Revenue Department office in your area on or before 31 March of each year and tax must be paid within 15 days from the date of:
- The installation of such taxable signboard after March of each year;
- The changes made to the existing signboard;
- Receipt of an assessment order.
An appeal against the assessment order may be filed within 30 days.
In case of failure to file a tax return, a surcharge at the rate of 10% to 24% of signboard tax payable will be imposed.
Contact MSNA for your Thai accounting and tax questions.