According to recent reports, Thailand is considering a proposal for new progressive tax rates for small and medium-sized enterprises (SME). The rates proposed rates are:
Reduced rates already apply for SMEs with paid up capital of THB 5 million or less, and annual turnover not exceeding THB 30 million in any accounting period. For qualifying SMEs the first THB 300,000 is exempt, and a reduced rate of 15% applies on profit exceeding THB 300,000 up to THB 3 million (increased from THB 1 million from 1 January 2015). Profits exceeding THB 3 million are subject to the standard rate of 20%. It is not yet clear how the proposed rates would affect the current reduced rates for SMEs, or if certain paid up capital or maximum turnover conditions would apply.
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