The Government just announced Thailand corporate income tax rate reduction for 2016 and 2017 for SMEs. In order to be eligible for the 2016 and 2017 reduced corporate income tax rates, the SMEs must meet the following conditions:
- Being a company or juristic partnership registered (or in other words, established) before 1 January 2015;
- The paid-up capital on the last day of any accounting period must not exceed THB 5 million; and
- The income from the sale of goods and provision of services must not exceed THB 30 million in any accounting period.
- The SME must register for this corporate income tax reduction on the website of the Thai Revenue Department between 15 January to 15 March 2016.
The following corporate income tax rates apply:
- For the accounting period beginning between 1 January and 31 December 2016 – 0% tax.
- For the accounting period beginning between 1 January and 31 December 2017, – 0% for the net profit of Baht 300,000 and 10% for the amount beyond 300,000
Contact your Thai Accountant at MSNA for any questions on accounting and tax in Thailand.