Thailand Business

Corporate tax in Thailand is payable depending on the status of the company. Some companies that have BOI incentives pay no taxes and recieve a tax holiday of 3-8 years at a time. There are different ways to pay taxes for normal companies.

Corporate tax in Thailand is paid twice a year. The first tax period is 2 months after the first 6 months of the companies accounting period. The second payment is due at year end within 150 days of the accounting period ending. The Thai government has different incentives for businesses depending on their status. As stated if it is a BOI company you could obtain a tax holiday for your investment into the Thai economy. There are other incentives that helps with the startup process and running of the company. These include exception on customs duties when importing machinery to commence production. It could also be a reduction only however there are import duty incentives depending on the status of the company. Office computers as an example recive up to 40% reduction in import duties as well as other machinery. If you are going to do R&D the cost of 'importing' research staff obtains you up to 200% in refunds for the cost of recruitment and salary. Best yet you get a 150% deduction for any staff training.

The corporate tax rates in Thailand is very progressive and runs from 5% to as high as 37% of profit which is still much lower than most countries. Investing in Thailand has been made easier over the years and the incentives which the government puts in places from time to time to spur the economy has always been most welcoming of foreign businesses. In short - Thaialdn is open for business. If you need advice on personal income tax in Thailand or corporate income tax in Thailand speak to us online on our main website, via our tollfree US and UK telephone numbers or simply consult any of our tax attorneys located across Thailand for first class advice. Speak to us now!