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Tax Rates and Double Taxation Agreements

Tax Rates


Rate

Corporate Income Tax

A. Tax on net corporate profits

1. Ordinary company

- For the accounting period starting during 1 January 2015 – 31 December 2015

20%

2. Small company (Paid up capital not exceeding 5 million baht and revenue not exceeding 30 million baht)

- Net profit not exceeding 300,000 baht

Exempted

- Net profit over 300,000 baht but not exceeding 3 million baht

15%

- Net profit exceeding 3 million baht

20%

Note: For the accounting periods starting on or after the 1 January 2015

3. Regional Operating Headquarters (ROH)

10%

4. Bank deriving profits from Bangkok International Banking Facilities (BIBF)

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 conducting 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)

Marginal Tax Rate

1 - 150,000

Exempted

150,001 - 300,000

5%

300,001 - 500,000

10%

500,001 - 750,000

15%

750,001 - 1,000,000

20%

1,000,001 - 2,000,000

25%

2,000,001 - 4,000,000

30%

More than 4,000,001

35%

Withholding Tax from Bank Deposits

For individuals

15%

For companies

1%

For foundations

10%

Value Added Tax

Level of taxable income (Baht)

Exempted

Over 1,800,000

7%

Double Taxation Agreements Exist With the Following Countries:

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

Source: Revenue Department, as of July 2016: www.rd.go.th


Excise Tax

  Note: These are only examples, for the full list please visit www.excise.go.th

Product

Tax Rate

Petroleum and petroleum products

Gasoline and similar products

Unleaded gasoline

6.0 baht per liter

Gasoline other than unleaded gasoline

6.0 baht per liter

Gasohol E10

5.4 baht per liter

Gasohol E20

4.8 baht per liter

Gasohol E85

0.9 baht per liter

Kerosene and similar lighting oil

Kerosene and similar lighting oil Fuel oil for a jet airplane that is not aircraft

3.055 baht per liter

Fuel oil for jet plane

Fuel oil for a jet airplane that is not aircraft

23% or 3.00 baht per liter

Fuel oil for jet airplanes for domestic aircraft per regulations, procedures, and conditions as specified by the Director General

1% or 0.20 baht per liter

Diesel and other similar types of oil

Diesel with sulphuric content exceeding 0.005% by weight

5.310 baht per liter

Diesel with sulphuric content not exceeding 0.005% by weight

4.950 baht per liter

Diesel with Methyl Esters biodiesel containing fatty acid not less than 4% as per regulations, procedures and conditions as specified by the Director General

4.250 baht per liter

Natural gas liquid (NGL) and similar products

NGL and similar products

36% or 5.310 baht per liter

NGL and similar products to be used during the refining process at a refinery

Exempted

Liquid petroleum gas (LPG), propane and similar products

LPG and similar products

2.17 baht per kg

Liquid propane and similar products

23% or 2.17 baht per kg

Electrical Appliances

Air-conditioning unit with motor-driven fans and thermostat, with or without a humidity control unit, with a capacity not exceeding 72,000 BTU/ hour

(1) For use in vehicle

Exempted

(2) Others from (1)

Exempted

Automobiles

Passenger car

With cylindrical volume not exceeding 2,000 cc and engine power not exceeding 220 horse power (HP)

30%

With cylindrical volume exceeding 2,000 cc but not exceeding 2,500 cc and engine power not exceeding 220 horse power (HP)

35%

With cylindrical volume exceeding 2,500 cc but not exceeding 3,000 cc and engine power not exceeding 220 horse power (HP)

40%

With cylindrical volume exceeding 3,000 cc or engine power exceeding 220 horse power (HP)

50%

Pick-up passenger vehicle (PPV)

With cylindrical volume not exceeding 3,250 cc

30%

With cylindrical volume exceeding 3,250 cc

50%

Double cab vehicle with specifications as specified by the Ministry of Finance

With cylindrical volume not exceeding 3,250 cc

15%

With cylindrical volume exceeding 3,250 cc

50%

Passenger car with specification as specified by the Ministry of Finance that is made from a pick-up truck or chassis with the windshield of a pick-up truck or modified from a pick-up truck

Manufactured or modified by industrial entrepreneurs with cylindrical volume not exceeding 3,250 cc

3%

Manufactured or modified by industrial entrepreneurs with cylindrical volume exceeding 3,250 cc

50%

Passenger car or public transport vehicle with and seating not exceeding 10 seats

Passenger car or public transport vehicle with seating not exceeding 10 seats used as an ambulance of a government agency, hospital or charitable organization as per terms and conditions and numbers specified by the Ministry of Finance

Exempted

Eco Car

- Hybrid electric vehicle

- With cylindrical volume not exceeding 3,000 cc

10%

- With cylindrical volume exceeding 3,000 cc

50%

Electric powered vehicle

10%

Fuel cell powered vehicle

10%

- Economy car meeting international standards (From 1 October, 2009 onwards)

Gasoline engine with cylindrical volume not exceeding 1,300 cc

17%

Diesel engine with cylindrical volume not exceeding 1,400 cc

17%

- Passenger car or public transport vehicle with seating not exceeding 10 seats using alternative energy with cylindrical volume not exceeding 3,000 cc as specified by the Ministry of Finance

- Using no less than 20% ethanol mix with gasoline available generally petrol stations according to the criteria and conditions set by the Director General

With cylindrical volume not exceeding 3,000 cc and engine power not exceeding 150 horse power (HP)

25%

With cylindrical volume not exceeding 3,000 cc and engine power is between 150 to 200 horse power (HP)

30%

With cylindrical volume not exceeding 3,000 cc and engine power exceeding 200 horse power (HP)

35%

- Being capable of operating on natural gas

- With cylindrical volume not exceeding 3,000 cc and engine power not exceeding 150 horse power (HP)

25%

- With cylindrical volume not exceeding 3,000 cc but and engine power is between 150 to 200 horse power (HP)

30%

- With cylindrical volume not exceeding 3,000 cc and engine power exceeding 200 horse power (HP)

35%

Boat

Yacht and boat used for leisure purpose

Exempted

Motorcycles

With cylindrical volume not exceeding 150 cc.

3%

With cylindrical volume exceeding 150 cc. but not exceeding 500 cc.

5%

With cylindrical volume exceeding 500 cc. but not exceeding 1,000 cc.

10%

With cylindrical volume exceeding 1,000 cc.

20%

Others

Exempted

Perfume and Cosmetics

Essential oil and fragrance essence, excluding of perfume and fragrant essence produced domestically

15%

Essential oil

Exempted

Perfume and fragrant essence that is a local product and produced domestically

Exempted

Other Commodities

Carpet and animal hair floor covering materials

20%

Marble and granite

Exempted

Batteries

10%

Golf Course

Membership fee

10%

Course usage fee

10%

Other incomes

Exempted

Source: Excise Department, as of July 2016: www.excise.go.th

  Last Updated: August 2017