Tax
From The Report: Thailand 2016
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This chapter summarizes the Thai tax system, focusing on corporate tax rates, rules and regulations, incentives for investors and other key areas. It also contains a viewpoint from Andrew Jackomos and Paul Ashburn, Senior Partners, BDO Advisory.

Articles from this Chapter

Overview

Playing percentages: A brief summary of the Thai taxation system
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The major taxes imposed in Thailand are: Corporate income tax: Thai-incorporated entities are generally subject to tax on their worldwide income, while foreign-incorporated companies are subject to tax on income derived from carrying on business in Thailand or on certain categories of income paid from Thailand; Petroleum income tax: petroleum (including natural gas) operations are subject to petroleum income tax; Personal income tax: individuals are subject to tax on Thai-sourced income. Tax…

Analysis

By the book: A more detailed rundown of the rules and regulations
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The main body of tax law in Thailand is the Revenue Code. Taxes under the Revenue Code are primarily collected under a self-assessment system, whereby taxpayers take responsibility for correctly filing their tax returns and paying taxes. The Revenue Department administers the Revenue Code and enforces compliance with the law through regular tax audits. Taxpayers can ask the Revenue Department for a ruling to clarify the Department’s viewpoint in advance of a tax audit. Corporate Income Tax Companies…

Viewpoint

Laws of attraction: Andrew Jackomos and Paul Ashburn, Senior Partners, BDO Advisory, on tax reforms and incentives affecting investors
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Several key initiatives have been introduced in the past year to promote the development and growth of Thailand’s economy. Attractive tax incentives are offered to investors that partake in these initiatives and should play a significant role in their success. The current government has also been very active in reviewing proposals for overhauling the current tax legislation as part of a long-term plan for tax reform. Reform Thailand has responded to the challenge to compete for investment and…