-Dividends paid by a limited company, registered under Thai law, to another Thai limited company or to a company registered under the law governing the Stock Exchange of Thailand may be exempt from corporate income tax, if the holding of the shares in the payer company is in compliance with conditions prescribed in the Revenue Code.
- A reduction or exemption from tax may be granted to juristic entities in accordance with tax treaties between Thailand and foreign countries.
- A corporate income tax exemption for a period of 3 to 8 years may be granted to promoted businesses under the Investment Promotion Act.
In addition, dividends, fees for goodwill, copyright or other rights received from the promoted businesses may also be exempt from income tax in the hands of the recipient. Regarding Deductible Expenses and Allowance:
Generally, expenses incurred exclusively for the purpose of generating income or for the purpose of business, are tax deductible. However, the deduction of some expenses and allowances must comply with the rules prescribed in the Revenue Code.
For additional information access the 2013 DELOITTE tax guide on Thailand.
|Thailand||East Asia & Pacific||United States||Germany|
|Number of Payments of Taxes per Year||22.0||25.0||11.0||9.0|
|Time Taken For Administrative Formalities (Hours)||264.0||209.0||175.0||207.0|
|Total Share of Taxes (% of Profit)||37.6||34.5||46.7||46.8|
Source: Doing Business - Last Available Data.
|Individual income tax||Progressive rate from 0 to 35%|
|From THB 0 to 150,000||0%|
|From THB 150,001 to 300,000||5%|
|From THB 300,001 to 500,000||10%|
|From THB 500,001 to 750,000||15%|
|From THB 750,001 to 1,000,000||20%|
|From THB 1,000,001 to 2,000,000||25%|
|From THB 2,000,001 to 4,000,000||30%|
Some deductions are also in place and are detailed on the Revenue Department web site.
|Type of property and law||Validity||International Agreements Signed|
Patent Act (No.3) B.E.2542 (1999)
Patent Cooperation Treaty (PCT)
Trademark Act B.E. 2534 (1991)
|10 years renewable|
Patent Act B.E. 2522 (1979), as amended by Patent Act (No. 2) B.E. 2535 (1992) and Patent Act (No. 3) B.E. 2542 (1999)
Berne convention For the Protection of Literary and Artistic Works
Patent Act BE 2522
Banks are open between 9.30am to 3.30pm, Monday to Friday. Foreign exchange counters are generally open between 7.00am to 8.00pm. Banks in department stores follow the opening hours of the stores which are usually 10.00am to 8.00pm. In some limited locations there are currency converting machines which convert foreign bank notes. These are open 24 hours.
Government offices are usually open between 8.30am to midday and 1.00pm to 4.30pm, Monday to Friday.
|New Year's Day||1 January|
|Makha Bucha Day||February|
|Chakri Day||6 April|
|Songkran Days||13-15 April (12-16-17 in some areas)|
|Labor Day||1 May|
|Coronation Day||5 May|
|Ploughing Day||9 May|
|Visakha Bucha Day||May|
|Asarnha Bucha Day||July|
|Buddhist Lent Day||July|
|H.M. The Queen's Birthday||12 August|
|Chulalongkorn Memorial Day||23 October|
|H.M. The King's Birthday||5 December|
|Constitution Day||10 December|
|New Year'sEve||31 December|
|Labor Day||1 May|
|H. M. The Queen's Birthday||12 August|
|H. M. The King's Birthday||5 December|
|Constitution day||10 December|
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Last Updates: December 2014