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Retained

  • Statutory Tax Rate 20
  • Surtax Based on Taxable Income 0
  • Surtax Based on Statutory Tax 0
  • Surtax Deductible from Taxable Income 0
  • Statutory Tax Deductable 0
  • Effective Tax Rate 20

Statutory Tax Rate

The standard corporate income tax rate was reduced from 30% to 23% for the year ended 31 December 2012 and to 20% from 1 January 2013. The 20% corporate income tax rate was originally intended to apply for years 2013 and 2014, but has been extended to 2015 as well.
Special rates apply for small and medium-sized enterprises (SME) with paid up capital of less than THB 5 million and with sales and services income less than THB 30 million in any accounting period. An exemption from corporate income tax applies on the first THB 300,000 of net profit, and a reduced rate of 15% applies on net profit above THB 300,000 up to THB 3 million. Net profit over THB 3 million is subject to the standard rate of 20%. The top rate threshold for qualifying SMEs was increased from THB 1 million to THB 3 million from 1 January 2015, and the exemption threshold was increased from THB 150,000 to THB 300,000 from 1 January 2013.
On 8 September 2015, the Thai Cabinet approved a temporary cut in the corporate tax rate to 10% for qualifying SMEs for two consecutive tax periods: the period starting 1 January 2015 and the period ending 31 December 2016. Income up to THB 300,000 remains exempt as per the standard SME regime.