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Tax

You will find here a series of summaries providing an overview of useful tax regulations, processes and tax issues for Doing Business in Thailand.

New Tax Amnesty

On 25 March 2019, the Government published the Act to Waive Tax Penalties and Surcharges and Criminal Liability to Support Tax-related Operations under the Revenue Code, 2562 B.E., in the Government Gazette. This Act became effective on 26 March 2019.

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Tax Incentives for ROH, IHQ, and ITC Cancelled

The Thai Revenue Department previously confirmed that entities currently operating under the Regional Operating Headquarters (ROH), International Headquarters (IHQ), and International Trading Centre (ITC) regimes would, in principle, be allowed to continue to do so, and to receive incentives already granted, until they are set to expire, unless they decided to switch to the new regime known as an International Business Centre (IBC).

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No cheques for personal income tax refunds

As set out in Revenue Department Newsletter no. 15/2019 on 2 January 2019, for taxpayers who file personal income tax returns electronically (through www.rd.go.th or the Smart Tax application) and claim a tax refund for 2018, the Revenue Department will send the tax refund to the taxpayer’s PromptPay account electronically, and will no longer issue cheques.

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Tax Return e-Filing Deadline Extended Again

The grace period for filing a tax return electronically of 8 days after the normal deadline was set to expire after 31 January 2019, unless another law was passed extending it. On 28 January 2019, the Thai government issued a notification to extend the grace period of 8 days for another two years, from 1 February 2019 to 31 January 2021.

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Update on significant changes to tax incentives

In our tax update for October 2018, we noted that the Cabinet approved four draft Royal Decrees proposed by the Ministry of Finance. On 28 December 2018, those Royal Decrees were published in the Government Gazette.

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