Corporate Income Tax

 

A. Tax on net corporate profits

Rate

(1) Ordinary Company

30%

(2) Small company (paid up capital <5m baht)

- Net profit not exceeding 1m baht

- Net profit over 1m baht but not >3m baht

- Net profit exceeding 3m baht

20%

25%

30%

(3) Company listed on Stock Exchange of Thailand (SET)

- Net profit for first 300m baht

- Net profit for amount exceeding 3m baht

 

25%

30%

(4) Company newly listed on SET

25%

(5) Company newly listed on Market for Alternative Investment (MAI)

20%

(6) Bangkok International Banking Facility (BIBF)

10%

(7) Regional Operating Headquarters (ROH)

10%

Note 1: Tax rate for companies in (3) to (5) apply for five consecutive accounting periods
Note 2: Tax rate for companies in (6) to (7) apply for qualifying income.

 

B. Tax on Gross Receipts

(1) Association and foundation [2% for income under Section 40 (8)]

2% or 10%

(2) Foreign company engaging in international transportation

3%

 

C. Remittance Tax

Foreign company disposing profits out of Thailand

10%

 

D. Foreign company not carrying on business in Thailand receiving income from Thailand

(1) Dividend income
(2) Other types of income apart from dividend

10%
15%

Personal Income Tax(Effective Jan. 1, 2002)

Level of taxable income (baht)

Marginal Tax  Rate

0 - 80,000

exempt

80,001 - 100,000

5%

100,001 - 500,000

10%

500,001 - 1,000,000

20%

1,000,001 - 4,000,000

30%

over 4,000,000

37%

Note: Expatriates working for ROH can elect to be taxed at the rate of 15% for 2 years instead of normal progressive tax rates

Tax on Income from Bank Deposits

 

Rate 

A. For individuals 

 15%

B. For companies 

 1% 

C. For foundations 

 10%

Value Added Tax

Level of taxable income (baht)

Rate

Over 1,200,000

7%

BIBF

 

Rate 

Corporate Income Tax

 

Withholding tax on remittance of interest

 

 

out-out

exempt

 

out-in*

10-15%

Withholding tax on remittance of profits

 

 

out-out

exempt

 

out-in*

exempt

Personal Income Tax

 

Withholding tax on remittance of interest

 

 

out-out

exempt

 

out-in*

10-15%

* Rate Depends on double Taxation Agreements

Withholding Tax

A foreign company or registered partnership not carrying out business in Thailand receiving the following income from or in Thailand:

Rate

A. Remittance of profits

10%