Corporate Income Tax in Thailand

Corporate Income Tax is a direct tax imposed on companies who undertake business in Thailand. Companies who operate a business outside of Thailand but derive income from Thailand are also subject to this tax.

Companies in Thailand who are subject to Corporate Income Tax have certain requirements and deadlines that they must meet in order to stay fully compliant with the Thai tax laws.

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How does Corporate Income Tax work in Thailand?

Corporate Income Tax is deducted from the net profits of the company as set out in the Revenue Code of Thailand.

Companies conducting business in Thailand must file their tax returns and submit payment within 150 days from the closing date of their accounting periods.

Companies in Thailand who are subject to Corporate Income Tax on net profits are also required to make a prepayment on their tax. In order to satisfy this requirement, companies are required to estimate their annual net profit and tax liability. Companies must then use this information to make a prepayment, due no later than two months after the first six months of their accounting periods.

Foreign entities who derive income from Thailand but are not conducting any business in the country are subject to a flat tax rate. These companies are required to withhold tax at the time of the payment. They must file the tax return and make the payment to the Revenue Department and within seven days of the following month in which the payment is made.

Pricing

FROM

THB 10,000 *

+ 7% VAT

A few days
(Average time from the moment we receive
all the required information from you)

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All Corporate Income Tax submissions are handled by qualified accountants.

Scope of work

Prepare and file the annual Corporate Income Tax return and payment.
Prepare and file the Corporate Income Tax prepayment return and payment.
Answering questions in relation to the Corporate Income Tax process.
Advise on post payment compliance.

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What is the process for the Corporate Income Tax ?

Be prepared for obtaining your BOI Licence with our comprehensive and free registration checklist.

Prepare & File the Corporate Income Tax Prepayment Return

Our team of experts will calculate the annual net profit and tax liability and then file the annual Corporate Income Tax Return accordingly. Our experts will also submit the payment on your behalf.

TIMELINE

A few days to collect documents from the parties and prepare the application.

Prepare & File the Annual Corporate Income Tax Return

Our experts will prepare and complete all required aspects of the annual Corporate Income Tax Return. Our experts will also submit the payment on your behalf.

TIMELINE

A few days to collect documents from the parties and prepare the application.

Frequently asked questions

What are the Corporate tax rates in Thailand?

A BOI Company gets to enjoy a number of attractive benefits over a traditional Thai Limited Company but this comes with additional scrutiny from official authorities. The key differences are highlighted below:

TAX PAYER	TAXPAYER	TAX BASE
Small company (paid-up capital	Net Profit between THB 300,000 & THB 3 million Net profit over THB 3 million	15%
Companies listed in the Stock Exchange of Thailand (SET)	Net profit	20%
Companies newly listed in the SET	Net profit	20%
Companies newly listed in the Market for Alternative Investment (MAI)	Net profit	20%
Banks deriving profits from International Banking Facilities (IBF)	Net profit	10%
Foreign company engaging in international transportation	Gross receipts	3%
Foreign companies not carrying on business in Thailand but receiving dividends from Thailand	Gross receipts	10%
Foreign companies not carrying on business in Thailand but receiving other types of income apart from dividends from Thailand	Gross receipts	15%
Foreign companies disposing profit out of Thailand	Amount disposed	10%
Profitable association and foundation	Gross receipts	2% or 10%

Who is considered as a taxable person in Thailand?

The following entities have a duty of paying corporate income tax:

A company or juristic partnership incorporated under Thai law
A company or juristic partnership incorporated under foreign laws that:
– Conducts business in Thailand
– Has an employee, an agent or a go-between whose purpose is to engage in business in Thailand and derive income or profits in Thailand.
– Does not conduct business in Thailand, but receives assessable income earned in Thailand.
– Distributes profit from conducting business in Thailand to other countries.
A business operating in a commercial or profitable manner by a foreign government, organisation or any other juristic person established under a foreign law.
Incorporated and unincorporated joint ventures.
A foundation or association who generates revenue.
A juristic person who is considered as a company or juristic partnership by the Government

Are there any Tax incentives in Thailand?

The Board of Investment (BOI) offers tax incentives for certain activities. The relevant activities are as follows:

Agriculture and agricultural products
Chemicals, paper and plastics
Electronic industry and electrical appliances
Light industry
Mining, ceramics and basic metals
Metal products, machinery and transportation equipment
Services and public utilities
Technology development and innovation

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Corporate Income Tax in Thailand