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Tax Rates and Double Taxation Agreements

Tax Rates and Double Taxation Agreements

Tax Rates

Tax Rate

Corporate Income Tax

A. Tax on net corporate profits

1. Ordinary company

- For the accounting period starting on or after the 1st January 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 1st 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 - 5,000,000

30%

More than 5,000,001

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, Cambodia, 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, Kuwait, 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, Tajkistan, Turkey, Ukraine, United Arab Emirates, United States of America, Uzbekistan and Vietnam


Source : Revenue Department, as of September 2021 :  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

6.500 baht per liter

 

Gasoline other than unleaded gasoline

6.500 baht per liter

 

Gasohol E10

5.850 baht per liter

 

Gasohol E20

5.200 baht per liter

 

Gasohol E85

0.975 baht per liter

 

Kerosene and similar lighting oil

 

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

4.726 baht per liter

 

Fuel oil for jet plane

 

Fuel oil for a jet airplane that is not aircraft

4.726 baht per liter

 

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

4.726 baht per liter

 

Product

 

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

Exempted

 

Diesel and other similar types of oil

 

Diesel with sulphuric content exceeding 0.005% by weight

6.44 baht per liter

 

Diesel with sulphuric content not exceeding 0.005% by weight

6.44 baht per liter

 

Diesel with Methyl Esters biodiesel containing fatty acid not exceeding 4%

6.44 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

5.99 baht per liter

 

Natural gas liquid (NGL) and similar products

 

NGL and similar products

5.85 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

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 3,000 cc and CO2 emission not exceeding 150 g/km (2)

25%

 

With cylindrical volume not exceeding 3,000 cc and CO2 emission exceeding 150 g/km but not exceeding 200 g/km

30%

 

With cylindrical volume not exceeding 3,000 cc and CO2 emission exceeding 200 g/km

35%

 

With cylindrical volume exceeding 3,000 cc

40%

 

Pick-up passenger vehicle (PPV)

 

With cylindrical volume not exceeding 3,250 cc and CO2 emission not exceeding 200 g/km

20%

 

With cylindrical volume not exceeding 3,250 cc and CO2 emission exceeding 200 g/km

25%

 

With cylindrical volume exceeding 3,250 cc

40%

 

Pick-up passenger vehicle (PPV) with Hybrid Electric Vehicle

 

With cylindrical volume not exceeding 3,250 cc and CO2 emission not exceeding 175 g/km

18%

Passenger car (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

2.5%

 

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

40%

 

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 with seating not exceeding 10 seats

 

- Hybrid electric vehicle

 

With cylindrical volume not exceeding 3,000 cc and CO2 emission not exceeding 100 g/km

8%

 

With cylindrical volume not exceeding 3,000 cc and CO2 emission exceeding 100 g/km but not exceeding 150 g/km

16%

 

With cylindrical volume not exceeding 3,000 cc and CO2 emission exceeding 150 g/km but not exceeding 200 g/km

21%

 

With cylindrical volume not exceeding 3,000 cc and CO2 emission exceeding 200 g/km

26%

 

With cylindrical volume exceeding 3,000 cc

40%

 

Electric powered vehicle

8%

 

Fuel cell powered vehicle

8%

 

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

 

Gasoline engine with cylindrical volume not exceeding 1,300 cc

14%

 

Diesel engine with cylindrical volume not exceeding 1,400 cc

14%

 

- 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 85% ethanol mix with gasoline available generally petrol stations

With cylindrical volume not exceeding 3,000 cc and CO2 emission not exceeding 100 g/km

4%

 

With cylindrical volume not exceeding 3,000 cc and CO2 emission exceeding 150 g/km

8%

 

With cylindrical volume not exceeding 3,000 cc and CO2 emission exceeding 200 g/km but not exceeding 200 g/km 

10.5%

 

With cylindrical volume exceeding 3,000 cc and CO 2 emission exceeding 200 g/km

13%

 

- Being capable of operating on natural gas

 

With cylindrical volume not exceeding 3,000 cc and CO2 emission not exceeding 150 g/km

20%

 

With cylindrical volume not exceeding 3,000 cc and CO2 emission exceeding 150 g/km but not exceeding 200 g/km

25%

 

With cylindrical volume not exceeding 3,000 cc and CO2 emission exceeding 200 g/km

30%

 

With cylindrical volume exceeding 3,000 cc

40%

 

Boat

 

Yacht and boat used for leisure purpose

Exempted

 

Motorcycles

 

Electric motorcycles

1%

 

CO2 emission not exceeding 50 g/km

3%

 

CO2 emission exceeding 90 g/km but not exceeding 90 g/km

5%

 

CO2 emission exceeding 90 g/km but not exceeding 130 g/km

9%

 

CO2 emission exceeding 130 g/km

18%

Perfume and Cosmetics

 

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

8%

 

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

Exempted

 

Marble and granite

Exempted

 

Batteries

8%

 

Golf Course

 

Membership fee

10%

 

Course usage fee

10%

 

Other incomes

Exempted

 

Note: (1) In accordance with the rules and conditions specified by the Director-General.

(2) In accordance with the rules, conditions, and characteristics specified by the Director-General.

(3) Vehicles must be complied with the Active Safety Standards as prescribed by the Director-General.

Source : Excise Department, as of January 2023 :  lawelcs.excise.go.th

Last Updated: January 31st, 2023

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