Corporate Income Tax in Thailand
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.
Tax Payer Tax Base Rate
1. Companies not appearing below Fiscal profit 20%
2. Small companies with a paid-up capital not exceeding Fiscal profit not exceeding 0.3m Baht Exempt
THB 5M Baht and income less than THB 30M
Fiscal profit over THB 0.3M and less than THB 3M 15%
Fiscal profit more than THB 3M 20%
3. Foreign companies not leading activities in Thailand Gross dividends 10%
but receiving dividends
4. Foreign companies not leading activities in Thailand Gross receipts 15%
and receiving incomes other than dividends
5. Foreign company remitting profit out of Thailand Amount remitted 10%
6. Regional Operating Headquarters (ROH) Net profit 10%
7. BOI Licensed companies Net profit 0%
Forms and submission
For limited companies and partnerships carrying on business in Thailand, forms and submission requirements are
Form Submission deadline Fine for late submission
Within 7 days After 7 days
PND 50 Annual tax return Within 150 days from the last day of the accounting period 2,000 baht 4,000 baht
e.g. for year ended 31 December 2016 submit on
or before 30 May 2017
PND 51 Half year tax return Within 2 months from the last day of the first 6 months 1,000 baht 2,000 baht
of the accounting period
e.g. for year ending 31 December 2017 submit on
or before 31 August 2017
Half-year tax is a prepayment calculated from the tax payable on the forecast net profit for the year. The prepaid tax is creditable against the full-year tax liability.
The Revenue Department has announced that companies registered for e-filing have an extra eight days to file the CIT returns after the normal deadline. This incentive will run until 31 January 2019.
Surcharge for late submission
There is also a surcharge of 1.5 percent of the tax payable per month for late submission of the annual tax return.
Underpayment of half-year tax can result in a surcharge of 20 percent of the tax that has been underpaid.
For more information click==: Revenue department website