Page 103 - Introduction to Investment Laws in Thailand

CHAPTER 5
TAXATION

Taxation in Thailand is under the governance of the Thailand Revenue
Code 1938 (BE 2481). The revenue code has been updated and revised
every year to ensure that the code reflects Thailand's business and
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economic condition. The last update is in 2021. The revenue code, thus
an important legislation, codifies personal and corporate income tax,
value-added tax. However, the land tax and export import export tax are
based on laws governing land and customs, respectively.

5.1 Corporate Income Tax

Corporations operating in Thailand have to pay tax according to the
revenue code. The list of the section governing corporate income tax are
the following;

- "Section 65 Income, expenses and an accounting period
- Section 65 Bis Conditions in the calculation of net profit
and net loss
- Section 65 Ter Items which shall not be allowed as
expenses in the calculation of net profit
- Section 65 Quarter A government enterprise pay income tax
on behalf of the seller of goods which purchases goods
from a government enterprise
- Section 66 Paying tax in accordance with the provisions in
Corporate Income Tax
- Section 67 Payment of tax in the case of a company
carrying on international transportation business
- Section 67 Bis Filing tax return for the six-month period

131 Revenue Department, 2021,
https://www.rd.go.th/fileadmin/user_upload/kormor/newlaw/p53.pdf

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