Direct Taxes

Direct taxes levied by the Revenue Department include;
- Corporate Income Tax
- Branch (of a foreign company) profit remittance tax, and
- Personal Income Tax.

Indirect Taxes

Indirect taxes are;
- Value Added Tax (VAT)
- Customs duties
- Excise tax.

Related tax laws

The Thai Revenue Code governs corporate and personal income taxes, branch profit remittance tax and value added tax. Customs Act regulates customs duties and Excise Act governs the excise tax.

Administration

Thai taxation generally follows a self-assessment system. Taxpayers have the duty to declare their income and pay the related tax to the Revenue Department. Tax declared and payment are regarded as correct and complete unless subsequently found by the tax auditor from the Revenue Department to be otherwise.

Apart from the duty to pay taxes, companies are also required to withhold tax on certain payments they make to outside parties. The taxes withheld have to be remitted to the Revenue Department within 7th day of the month next to the month in which the payments are made.

Disclaimer

Any statements concerning taxation are based upon our understanding of current taxation laws and practices in Thailand which are subject to change. While every effort has been made to offer information that is current, correct and clearly expressed the publisher is not responsible for the results of actions taken on the basis of information contained in this summary, nor for any errors or omissions. Readers are encouraged to seek professional advice concerning specific matters before making any decision.