Tax Payment Schedule in Thailand The taxpayer in Thailand should file a Personal Income Tax Return (PIT) and make payment to the Revenue Department within the last day of March of the following tax year. For taxpayers who derive their income as per category (5) – (8) during the first six months of the taxable [...]
For purposes of taxation, anybody who had lived in Thailand for more than 180 days is considered a resident of the country. Thailand residents are required to pay taxes on all income earned within and outside Thailand. Non-residents or those who have stayed in Thailand for less than 180 days per year will only be [...]
On January 8, 2013, the Thai government passed the approval of a mini-package to help alleviate the situation of small and medium enterprises or SMEs which has been affected by the recent passing of a nationwide increase of the minimum wage to Baht 300 per day. Said wage increase which took effect on January 1, [...]
Thailand currently have 22 petrol operators in Phuket providing Phuket’s fuel requirements from Shell, PTT, ESSO, Caltex, Jusco and Bangchak, according to company registrations in Phuket. Petrol operators estimate that Phuket consumes more than a million liters of petrol every day. This is a clear indication of the good business position of local petrol operators [...]
With many foreign nationals falling in love with Thailand’s natural charm and beauty, the government of Thailand encourages foreign direct investment by maintaining an open and market-oriented economy as a means of promoting economic development, employment and technology transfer. Thailand’s agriculture-based economy has transformed into an industry and manufacturing-based economy which is largely influenced by [...]
Thailand, like the other developing countries in the world, has their own taxation laws. It has an extensive withholding tax system applicable to both domestic and international payments. In this system, a payer of income is mandated by law to deduct tax from the types of payments described under the system and remit the amount [...]
Phuket businesses are seemingly in a quandary over the Cabinet’s recent approval of increasing levies on cigarettes and liquor and the Excise Department’s motion to include other businesses as well like beer, wine and automobiles in the government’s drive to intensify revenue generating campaigns. Benja Louichareon, Excise Department director-general was quoted in a report by [...]
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