What is the Thai Customs Department

Tax and duty collection in Thailand dates back to the Sukhothai period and continued throughout the Adyudhaya and Rattanakosin periods.  A new era of Thai Customs commenced in 1874 during the reign of King Rama IV and the “Customs House” …

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Income Tax Reduced for Juristic Entities

On 21 December 2011, the Thai Government announced in Royal Decree (No. 530) B.E. 2554 the following reductions to juristic income taxes: 1.     23% of net profits of the juristic person for the first accounting period which begins on or after …

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Tax Exemption – 2010 Bangkok Unrest

On 18 April 2011, the Revenue Department issued two notifications of relevance to Thailand’s civil unrest in 2010: 1.    Notification of Director-General of Revenue Department Re: Incoming Tax (No. 204) – Regulations, Procedures and Conditions in relation to Tax …

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Reducing tax liabilities by employing the “business transfer” provisions of the Revenue Code

On 18 April 2011 the Revenue Department passed Royal Decree No. 516 allowing for the exemption of VAT, Specific Business Tax and Stamp Duty in connection with a “partial transfer of business” between associated companies. On 27 September 2011, the …

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Recent Developments in 2011

The Revenue Department (RD) has issued a number of notifications over the first half of 2011 covering (i) the application of VAT in the context of exported services and for the partial transfer of business, (ii) the treatment of certain …

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Tax Law

The primary source of tax law in Thailand is the Revenue Code. The four main forms of tax imposed by the Revenue Code are: corporate income taxes; value added taxes (VAT); personal income tax; and stamp duty. Corporate income tax …

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