Corporate Income Tax is a direct tax imposed juristic companies or partnerships doing business in Thailand or those that do not do business in Thailand but getting certain types of income from Thailand.
Who are liable for Corporate Income Tax?
The taxable person are as follow:-
- A company or juristic partnership incorporated under Thai law:
- Limited company
- Public company limited
- Limited partnership
- Registered partnership
- A company or juristic partnership incorporated under foreign laws:
- a company or juristic partnership incorporated under foreign laws and carrying on business in Thailand
- a company or juristic partnership incorporated under foreign laws and carrying on business in other places including Thailand
- a company or juristic partnership incorporated under foreign laws and carrying on business in other places including Thailand, in case of carriage of goods or passengers
- a company or juristic partnership incorporated under foreign laws which has an employee, an agent or a go-between for carrying on business in Thailand and as a result receives income or profits in Thailand
- a company or juristic partnership incorporated under foreign laws and not carrying on business in Thailand but receiving assessable income under Section 40(2)(3)(4)(5) or (6) which is paid from or in Thailand
- A business operating in a commercial or profitable manner by a foreign government, organization of a foreign government or any other juristic person established under a foreign law.
- Joint venture
- A foundation or association carrying on revenue generating business, but does not include the foundation or association as prescribed by the Minister in accordance with Section 47 (7) (b) under Revenue Code
MSNA group of companies can assist in accounting & tax, audit and filing of the audited financial statements and corporate income tax returns with the Department of Business Development and Revenue Department. We can also help in registering the company with online tax filing system.