INCOME TAX

Thailand has approved tax incentives for foreign professionals. According to a National News Bureau of Thailand report on 23 February 2022, foreigners with specialised skills in targeted industries will pay 17% on personal income instead of the current 35%. More

According to an announcement (No. 12 [2021]) issued by the Ministry of Finance and the State Taxation Administration on 2 April, for small and low-profit businesses, enterprise income tax on the portion of annual taxable income not exceeding RMB1 million will be further reduced by half based on the preferential policy specified in Point 2 of an earlier circular (Cai Shui No. 13 [2019]). More

The upper limit of annual taxable income of low-profit enterprises is to be raised from RMB300,000 to RMB500,000. In the case of enterprises with an annual taxable income of RMB500,000 or below, taxable income will be calculated at the reduced rate of 50%, with corporate income tax payable at a rate of 20%. More

The Ministry of Finance and the State Administration of Taxation issued the Circular on Further Expanding the Scope of Enterprise Income Tax Preferential Policy for Low-Profit Small Enterprises (Cai Shui No. 99 [2015]) in September 2015 to help low-profit small businesses play a bigger role in promoting economic development. More