Corporate Income Tax

Rate

A. Tax on net corporate profits

(1) Ordinary company

30%

(2) Small company (paid up capital <5m baht)          

- Net profit over 1 baht but not > 150,000 baht

Exempt

- Net profit over 150,001 baht but not > 1 m baht

15%

- Net profit over 1m baht but not > 3m baht

25%

- Net profit exceeding 3m baht                     

30%

(3) Company listed in Stock Exchange of Thailand (SET)

- Net profit for first 300m baht

25%

- Net profit for the amount exceeding 300m baht

30%

(4)1 Company listed in Market for Alternative Investment (MAI)

- Net profit for first 20m baht

20%

- Net profit for the amount exceeding 20m baht

30%

(5)2 Company newly listed in Stock Exchange of Thailand (SET)

- Net profit for first 3 accounting periods

25%

- Net profit after first 3 accounting periods

30%

(6)2 Company newly listed in Market for Alternative Investment (MAI)

- Net profit for first 3 accounting periods

20%

- Net profit after first 3 accounting periods

30%

(7) Regional Operating Headquarters (ROH)

10%

(8) Bank deriving profits from International Banking Facilities (IBF)

10%

B. Tax on gross receipts

(1) Association and foundation

- For income under Section 40 (8)

2%

- Otherwise

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 but receiving income from Thailand

(1) Dividends

10%

(2) Interests    

15%

(3) Professional fees

15%

(4) Rents from hiring property

15%

(5) Royalties from goodwill, copyright and other rights

15%

(6) Service fees

15%

Personal Income Tax

Level of taxable income (baht)

Rate

                  1- 150,000

exempt

      150,001 - 500,000

10%

   500,001 - 1,000,000

20%

1,000,001 - 4,000,000

30%

          Over 4,000,000

37%

Withholding Tax from Bank Deposits          

Rate

A. For individuals

15%

B. For companies   

   1%

C. For foundations    

10%

Value Added Tax

Rate

Level of taxable income

Over 1,800,000 baht

  7%

Deposit or loan of foreign currency provided solely for overseas lending  

Corporate Income Tax

Foreign company not carrying business in Thailand

Exempt

Foreign bank, including branch or representative office in Thailand

Exempt

Personal Income Tax

Foreigner with overseas domicile

Exempt

Double Taxation Agreements exist with the following countries:

Armenia, Australia, Austria, Bahrain, Bangladesh, Belgium, Bulgaria, Canada, China, Cyprus, Czech Republic, Denmark, Finland, France, Germany, Hong Kong, Hungary, India, Indonesia, Israel, Italy, Japan, Korea, Kuwait, Laos, Luxembourg, Malaysia, Mauritius, Nepal, the Netherlands, New Zealand, Norway, Oman, Pakistan, the Philippines, Poland, Romania, Seychelles, Singapore, Slovenia, South Africa, Spain, Sri Lanka, Sweden, Switzerland, Turkey, Ukraine, United Arab Emirates, United Kingdom of Great Britain and Northern Ireland, United States, Uzbekistan, and Vietnam

Product

Tax Rate

Petroleum products

Gasoline

Unleaded Gasoline

7.00 baht per liter

Gasoline except Unleaded Gasoline

7.00 baht per liter

Gasohol E10

6.30 baht per liter

Gasohol E20

5.60 baht per liter

Gasohol E85

1.05 baht per liter

Kerosene

Kerosene and similar lighting oils      

3.055 baht per liter

Fuel for jet aircraft

Used for international jet aircraft

3.00 baht per liter

Used for domestic jet aircraft

0.20 baht per liter

Used for others

exempt

Diesel

Diesel with sulphur over 0.35% in weight

5.31 baht per liter

Diesel with sulphur not over 0.35% in weight

5.31 baht per liter

Diesel with Methyl ester of fat not over 4% in weight (Biodiesel)

5.04 baht per liter

Liquefied petroleum gas (LPG), propane gas and similar gas

LPG, liquid propane and similar gas

2.17 baht per kg

Natural gas liquid (NGL) and similar gas

NGL and similar gas

3.15 baht per kg

Furnace oil and similar oil

Furnace oil and similar oil

5%

Mixed Bitumen products used as fuel

Mixed Bitumen products used as fuel

12%

Hydrocarbon solvent

Hydrocarbon solvent according to dept. regulations

30%

Non-alcoholic beverages

Soda

25%

Other soft drinks

20%

Electrical appliances

Air-conditioners, capacity not over 72,000 BTU/hr

15%

Chandeliers with lead crystal 

15%

Glasses and Glassware           

Lead crystal products

15%

Motor vehicles

Passenger cars not over 2,000cc

30%

Passenger cars over 2,000cc but not over2,500 cc

35%

Passenger cars over 2,500 but not over 3,000cc

40%

Passenger cars over 3,000cc

50%

Pickup Passenger Vehicles (PPV) not over 3,250cc

20%

Pickup with double cap not over 3,250cc

12%

Produced or adapted from pick-up cars not over 3,250cc

3%

Hybrid electric vehicles not over 3,000cc

10%

Electric powered vehicles

10%

Fuel cell powered vehicles

10%

Eco cars with gasoline engine not over 1,300cc

17%

Eco cars with diesel engine not over 1,400cc

17%

Energy substitute (Ethanol not less than 20%) vehicles not over 2,000cc

25%

Energy substitute (Ethanol not less than 20%) vehicles over 2,000cc but not over 2,500cc

30%

Energy substitute (Ethanol not less than 20%) vehicles over 2,500cc but not over 3,000cc

35%

Energy substitute (Ethanol not less than 20%) vehicles over 3,000cc

50%

Natural gas vehicles

20%

Tricycles and cars produced by using motor of motorcycle not over 250cc

5%

Pickups or cars designed for loading contained characteristic specified by the Director-General in the Ministry of the Finance not over 3,250cc

3%

Motorcycles

Two-stroke engine

  5%

Four-stroke engine

3%

Ozone depleting substances (e.g. halogen of hydrocarbons)

30%

Entertainment

Horse racing

20%

Golf

10%

Nightclub and discotheque

10%

Sauna and massage

10%

Telephone service

Baseline services

0%

Cellular phone service

0%

Fermented Liquors

Beer

60%

Wine or sparkling wine

60%

Local fermented liquor

25%

Others from beer, wine, or local fermented liquor

25%

Distilled Spirits

White spirit

50%

Compound spirit

50%

Special blended spirit

50%

Special Spirits

Brandy

48%

Whisky

50%

Others

50%

Absolute Alcohol

Used in industry

2%

Used in medicine

0.1%

Others from industry and medicine

10%

Tobacco

Shredded tobacco

0.1%

Cigarettes

80%

Cigars

10%

Other rolled tobacco

0.1%

Blended shredded tobacco

10%

Chewing tobacco

0.1%

Playing cards

Playing cards

30 Baht/100 cards

Other cards

2 Baht/100 cards

Other

Perfume

15%

Wool carpet

20%

Transformed marble and granite

exempt

Yachts

exempt

Batteries

10%