Corporate Income Tax

Corporate Income Tax

Corporate Income Tax is tax due by Partnerships and Limited Companies carrying on business on the Thai territory or generating incomes from activities performed in Thailand

Organizations liable to Thailand Corporate Income Tax appear hereinafter: Thai partnership or limited companies incorporated under Thai laws. Foreign Companies which: Are deemed to carry on business on the Thai territory; Carry on business in Thailand; Do not carry on business on the Thai territory but generating certain types of income from Thailand such as dividends, rents, service fees, interests or professional fees. Taxable profits are based on the sum of all revenues less deductible expenses during the fiscal year:

Corporate Income Tax in Thailand

Deductible Expenses:

Ordinary and necessary expenses with special the rates appearing hereinafter:

  1. Deduction of 200% on equipment invested for the disabled.
  2. Deduction of 200% on Research and Development costs.
  3. Deduction of 200% on training costs.
  • Interests, excluding interests on capital reserves or funds of the company. Taxes except VAT and CIT.
  • Net losses carried forward (5 years).
  • Wear and tear.
  • Donations: no more than 2% of net profits.
  • Bad Debts only if a procedure has been launched to the court of Thailand.
  • Provident fund contributions.
  • Entertainment costs up to 0.3% of gross incomes and not exceeding THB 10M.
  • Annual Asset Depreciation according to authorized rates
TAX PAYERTAX BUYERRATE
Companies not appearing belowFiscal Profit20%
Small companies with a paid-up capital not exceeding THB 5M Baht and income less than THB 30MFiscal profit not exceeding 0.15m BahtExempt
Fiscal profit over THB 0.15M and less than THB 1M15%
Fiscal profit more than THB 1M and less than THB 3M20%
Fiscal profit more than THB 3M20%
Foreign companies not leading activities in Thailand but receiving dividendsGross dividends10%
Foreign companies not leading activities in Thailand and receiving incomes other than dividendsGross receipts15%
Foreign company remitting profit out of ThailandAmount remitted10%
Regional Operating Headquarters (ROH)Net profit10%
BOI Licensed companiesNet profit0%

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