Page 106 - Introduction to Investment Laws in Thailand

days of its profit remittance to its country. 135 Regarding accounting
period, juristic persons have twelve months except in the following cases
where it may be less than twelve months in cases of:

- "a newly incorporated company or juristic partnership may
elect to use the period from its incorporation date to anyone
date as the first accounting period.
- a company or juristic partnership may file a request to the
Director-General of the revenue department to change the last
day of an accounting period. In such a case, the Director-
General shall have the power to approve as he deems
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appropriate."

5.1.2 Tax Ratio and Calculation
The corporate tax of juristic persons is calculated from a net profit on
an accrual basis. Juristic individuals have to be concerned with all revenue
arising from or in consequence of the business carried on in an accounting
period, and deducting of all expenses in accordance with the condition
prescribed by the Revenue Code. The corporate tax ratio is based on table
7 below.
Table 7: Corporate Tax Ratio in Thailand

Taxpayer Tax Base Rate (%)
1. Small company - Net profit from 300,000 not 15%
(A small company refers to exceeding 3 million baht
any company with paid-up
capital less than 5 million
baht at the end of each
accounting period)

135 Revenue Code section 70 and 70 bis ; (Por Ngo Dor 51-ภ.ง.ด. 54)
https://www.rd.go.th/fileadmin/tax_pdf/cit/CIT54_260257.pdf
136 Revenue Department Thailand, 2021, Corporate Tax,
https://www.rd.go.th/english/6044.html

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