Author: parinyawatk

DLO’S Tax Newsletter Issue 65 May 2016   Tax Law Update Corporate Income Tax Exemption for Target Industry Business in SMEs Royal Decree (No.602) B.E. 2559 has stipulated that corporate income tax for a juristic person that has income from the sale of goods and services from a Target Industry shall be exempt from such tax for five accounting periods subject to the following conditions: The legal entity must be registered as a juristic person from October 1st 2015 through until December 31st 2016; The juristic person must have paid-up capital not exceeding 5,000,000 Baht and have income from the sale of goods and services not exceeding 30,000,000 Baht in an accounting period; The juristic person must have income from a Target Industry which is not less than 80% of the total income in an accounting period; SMEs that perform […]

DLO’S Tax Newsletter Issue 64 April 2016   Tax Law Update Extending for Filing Tax Return for Juristic Person Registered with Revenue Department The Royal Act of Exemption and Supporting for tax operation under the Revenue Code B.E. 2558 which is to exempt from some processes of tax examination to juristic person registered with Revenue Department according to the Act. In order to help juristic persons with respect to  accounting adjustments (in the accounting period of B.E. 2558), the Minister of Finance has agreed to extend the period of filing a tax return until June 30, 2016 according to the  following conditions: Value Added Tax Return (Por. Phor. 30) (Por. Phor. 36) (Only for additional filing) Witholding Tax Return (Phor. Ngor. Dor. 1, Phor. Ngor. Dor. 2, Phor. Ngor. Dor. 3, Phor. Ngor. Dor. 53 and Phor. Ngor. Dor. 54) […]

DLO’S Tax Newsletter Issue 63 February-March 2016   Tax Law Update Personal Income Tax Rates The National Legislative Assembly has issued Royal Decree (No. 600) B.E. 2559 to hold Personal income tax rates at the following rates for income received in B.E. 2559 (2016): Net Income (Baht) Rate Not exceeding 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 –   4,000,000 30 % 4,000,001 and more 35 %   However, taxpayers should be aware that they will still be entitled to receive an exemption of the first 150,000 Baht in calculating personal income tax due to Royal Decree (No.470) B.E.2551, only in the case of calculating personal income tax under section 48(1) of the Revenue Code. For more details: http://goo.gl/bp0iEr, https://www.dlo.co.th/node/891 and https://www.dlo.co.th/node/894 Tax Benefits […]

DLO’S Tax Newsletter   Issue 62 – January 2016   Tax Law Update Exemption on Examination for SMEs Registered on a Single Account  The National Assembly has issued a Royal Act (the “Act”) that allows companies or partnerships – whose gross incomewas not in excess of 500 million Baht in the past accounting period (calculated over a 12 month period which must have ended prior to or on December 31, 2015) – an exemption from an examination, investigation, assessment or order to pay tax and criminal liability under the Revenue Code.  This exemption applies to companies or partnerships whose gross income arises from an accounting period which has a start date before January 1, 2016 or where the value of the tax base, the revenues or the instrumentoccurred before January 1, 2016. However, this exemption will not apply to companies […]

DLO’S Tax Newsletter   Issue 61 – December 2015   We wish you good health and fortune All ventures thorough and complete All things arise victorious We wish you safe and free from harm Budhima  Kerdsiri –  Author Sam – Translator   Tax Law Update To Specify Income Excluded from Tax Calculations The Ministry of Finance has issued Ministerial Regulation (No.309) B.E. 2558 to stipulate that the share of profits derived from a non–registered ordinary partnership or a non–juristic body of persons, will be exempt for the purposes of income tax calculations: Rent from a co-owned property, where the property was inhertied or gifted. Interest on personal deposits which have been withheld; specifically, where a claim was not filed for the receipt of withholding tax or a tax credit that has been withheld. This Ministerial Regulation will apply for assessable income from […]

DLO’S Tax Newsletter   Issue 60 – November 2015 Tax Law Update To Specify Some Type of Income not to be Included in Tax Calculation The Minister of Finance has issued Ministerial Regulation No. 308 (B.E. 2558) which specifies that the following assessable types of income are not to be included in calculating taxable income: . 1. Benefits that officials receive from their pensions due to them requesting to return to apply their right according to the pension law. 2. Extra monies that the pensioner gains from the Comptroller General’s Department due to them requesting to return to apply for the right according to the pension law. This Ministerial Regulation will apply for assessable income from 2015. For more details, please visit: http://goo.gl/mqZqnX The Explanation of Criteria for filing Por. Ngor. Dor. 2 and Por. Ngor. Dor. 2 Khor. The […]