Taxes in Thailand
Value Added Tax (VAT)
The “Value Added Tax (‘VAT’) is a tax on the sale of goods or the provision of services. The current rates are 7% and 0% (on export activities for instance) while some exemptions apply to certain activities.
Tax Invoice
A tax invoice is a mandatory document that needs to be issued by sellers of goods and services in order to submit VAT.
Withholding Tax (WHT)
The withholding tax (“WHT”) is a tax deducted at source from the payment of a service invoice. WHT rates depend on the nature of provided services (cf. below detailed rates).
Personal Income Tax (PIT)
The Personal Income Tax (PIT) is a direct tax levied on the income of taxable persons, i.e individuals residing in Thailand more than 180 days in a calendar year, or non-resident earning income in Thailand.
Corporate Income Tax (CIT)
The CIT therefore applies to entities incorporated under Thai law, as well as to foreign entities conducting business in Thailand or receiving income paid from or in Thailand which is subject to CIT under the Thai Revenue Code.
Tax deadlines in Thailand
Monthly TAX deadlines
Monthly
7th
- Personal Income Tax (PND1)
- Offshore VAT (PP36)
- Withholding Tax (PND 3/53/54)
15th
- Withholding Tax (PND 3/53/54) if registered to e-filling
- VAT (PP30)
- Social Security
23rd
- VAT (PP30) if registered to e-filling
Yearly TAX deadlines
Yearly
Feb. 28th
- Annual SSF submission
Mar. 31st
- Annual Personal Income Tax (PND90/91)
Aug. 31st
- Mid-Year Corporate Income Tax (PND51)
May 31st
- Year End Corporate Income Tax (PND50)