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Newsletter:

Corporate income tax (CIT) measures

10 May 2023

  1. Exemption from income tax and VAT for persons and companies donating money or property to the government from 6th March 2022 until 31st December 2023 to support COVID-19 related measures.
  2. Tax exemption for proceeds from sale of property with buy-back option.
  3. CIT and VAT exemption for importing goods used for treatment, diagnosis, or COVID-19 prevention for donation to specified organizations from 1 April 2022 to 31 December 2023.
  4. Extension of the tax measures to support the e-tax systems for three (3) years from 1 January 2023 to 31 December 2025, to promote the continuous use of the e-tax invoice, e-receipt, and e-withholding tax systems. In addition, the Cabinet also approved further reduction of WHT rate from 2% to 1% for certain types of payment through e-withholding tax system from 1 January 2023 and 31 December 2025. These income payments are: 
  • Service income from performance of services (e.g., commission)
  • Goodwill and copyright
  • Property rental, except boat rental.
  • Income derived from liberal professions, contract of work, hire of work included prizes received from competitions, lucky draws, or others of a similar nature.
  • Income paid to actors and actresses who are residents of Thailand

KEY CONTACTS

Pakamon Charubhakti , Partner
Pakamon Charubhakti
Partner
BDO Thailand - Bangkok Office - Asoke
Ishan Shah, Director
Ishan Shah
Director
BDO Thailand - Bangkok Office - Asoke

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