| 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% |
| B.
Remittance of dividends |
10% |
| C.
Remittance of interest |
15% |
| D.
Royalties from goodwill, copyright and other rights |
15% |
| E.
Rentals from hiring property |
15% |
|
Structure
of Import Tariffs
|
Tax
Rates |
A. Basic raw
materials, necessary raw
materials,
and materials subjected to special treatment |
1% |
| B. Primary
goods and machinery |
1-10% |
| C. Intermediate
goods |
5% |
| D. Final
goods |
10% |
| E. Commodities
requiring specially
high protection |
>20% |
|
Double
Taxation Agreements exist with the following: |
|
Armenia, Australia, Austria, Bahrein, Bangladesh, Belgium, Bulgaria,
Canada, China, Cyprus, Czech Republic, Denmark, Finland, France,
Germany, Hungary, India, Indonesia, Israel, Italy, Japan, Korea, Laos,
Luxembourg, Malaysia, Mauritius, Nepal, the Netherlands, New Zealand,
Norway, Pakistan, the Philippines, Poland, Romania, Singapore, South
Africa, Spain, Sri Lanka, Sweden, Switzerland, United Arab Emirates,
United Kingdom of Great Britain and Northern Ireland, United States,
Uzbekistan and Vietnam. |
Source: for
tax information: Revenue Department, July 2004 |
|