Question 1

When must a business register for Thai VAT?

Accepted Answer

Section 85/1 read with section 81/3 of the Revenue Code requires registration once turnover from VATable sales or services exceeds THB 1.8 million in a year. The application, form PP.01, must be filed within 30 days of crossing the threshold. Voluntary registration below the threshold is available and is often necessary when corporate customers or exports are involved. Certain activities are exempt under section 81, including specified agricultural produce, education and healthcare services. Ask our Thai accounting team to review your position by phone, LINE or email before you file.

Question 2

What is the Thai VAT rate and when is PP.30 due?

Accepted Answer

The statutory rate in section 80 is 10 percent, but a royal decree has reduced it to 7 percent inclusive of local tax, renewed period by period. The monthly return PP.30 is due by the 15th of the following month under section 83, with an additional grace period for internet filing granted by successive Ministry of Finance notifications. A nil return is still required for months with no activity. Late payment attracts a surcharge of 1.5 percent per month. Ask our Thai accounting team to review your position by phone, LINE or email before you file.

Question 3

What must a full-form Thai tax invoice contain?

Accepted Answer

Section 86/4 lists the mandatory particulars: the words tax invoice, the issuer's name, address and taxpayer identification number, the buyer's name and address, a sequential invoice number, the description, type, quantity and value of the goods or services, the VAT amount shown separately, and the date of issue. If any particular is missing the buyer cannot claim the input VAT under section 82/5, which is the single most common finding in a Revenue Department review. Ask our Thai accounting team to review your position by phone, LINE or email before you file.

Question 4

What is the corporate income tax rate in Thailand?

Accepted Answer

The standard rate is 20 percent of net profit. Companies qualifying as SMEs under the relevant royal decree, meaning paid-up capital of no more than THB 5 million on the last day of the accounting period and revenue of no more than THB 30 million for that period, use a banded scale: the first THB 300,000 of net profit is exempt, the band above THB 300,000 up to THB 3 million is taxed at 15 percent, and the excess at 20 percent. BOI-promoted activities may be exempt on the terms of the promotion certificate. Ask our Thai accounting team to review your position by phone, LINE or email before you file.

Question 5

When are PND.50 and PND.51 due?

Accepted Answer

PND.50, the annual corporate return, is due within 150 days of the last day of the accounting period under section 68, filed with audited financial statements. PND.51, the half-year return, is due within two months of the end of the first six months under section 67 bis. Internet filing generally carries an extension under the Ministry of Finance notification in force at the time. Ask our Thai accounting team to review your position by phone, LINE or email before you file.

Question 6

What happens if the half-year profit estimate is too low?

Accepted Answer

Section 67 ter imposes a surcharge of 20 percent of the shortfall where the estimated net profit used for PND.51 is understated by more than 25 percent of actual net profit without reasonable cause. Reasonable cause must be evidenced, for example an unforeseeable event in the second half. Reusing last year's figure without reviewing actual first-half results is the usual reason companies fall into this charge. Ask our Thai accounting team to review your position by phone, LINE or email before you file.

Question 7

How long can Thai tax losses be carried forward?

Accepted Answer

Section 65 ter (12) allows net losses from the previous five accounting periods to be deducted in computing net profit. Losses older than five years lapse. To use the relief, the loss-year financial statements and PND.50 filings must be complete and on record. BOI companies follow specific rules for losses incurred during the exemption period, set out in the promotion certificate. Ask our Thai accounting team to review your position by phone, LINE or email before you file.

Question 8

Who is a Thai tax resident and what does it change?

Accepted Answer

Under section 41 of the Revenue Code, an individual present in Thailand for 180 days or more in a calendar year is a resident. The days need not be consecutive. A resident is taxable on Thai-sourced income and on foreign-sourced income brought into Thailand; a non-resident is taxable on Thai-sourced income only. Departmental Instructions Por 161/2566 and Por 162/2566 provide that foreign income arising from 1 January 2024, while the person was resident, is assessable in the year it is remitted, whichever year that is. Ask our Thai accounting team to review your position by phone, LINE or email before you file.

Question 9

What are the Thai personal income tax rates and filing dates?

Accepted Answer

Net income is taxed on a progressive scale under the schedule to Chapter 3 of the Revenue Code, starting with the first THB 150,000 exempt and rising to 35 percent on net income above THB 5 million. Employment income under section 40(1) attracts a 50 percent expense deduction capped at the statutory/official cap or rate (check the current figure) and a personal allowance of THB 60,000. PND.91 is used for employment income only, PND.90 where other categories are present; both are due by 31 March of the following year under section 56, with an internet-filing extension announced annually. Ask our Thai accounting team to review your position by phone, LINE or email before you file.

Question 10

Which withholding tax rates apply most often?

Accepted Answer

Under Departmental Order Tor Por 4/2528 as amended, a corporate payer withholds 3 percent on general services and hire of work, 3 percent on professional fees, 5 percent on immovable property rent, 2 percent on advertising, and 1 percent on non-public transport. Salary is withheld on the annualised progressive basis under section 50(1). These rates are set by departmental order and change, so confirm the current version before configuring an accounting system. Ask our Thai accounting team to review your position by phone, LINE or email before you file.

Question 11

What is the difference between PND.3 and PND.53?

Accepted Answer

PND.3 remits tax withheld from individual payees; PND.53 covers juristic-person payees. Both are due by the 7th of the month following payment under section 52, with an internet-filing extension under the notification in force. Payments of certain income to recipients abroad use PND.54, where a double tax agreement may reduce the rate if the treaty conditions and documentation are satisfied. Ask our Thai accounting team to review your position by phone, LINE or email before you file.

Question 12

What are the Thai social security contribution rules?

Accepted Answer

Under the Social Security Act B.E. 2533, an employer with one or more employees must register within 30 days of hiring. Section 33 contributions are ordinarily 5 percent from the employee and 5 percent from the employer, computed on a monthly wage ceiling of THB 17,500, maximum THB 875 per person per side from 1 January 2026 to 31 December 2028; check temporary reductions. Contributions are not registration fees. Contributions and form SPS.1-10 are remitted by the 15th of the following month. Temporary rate reductions have been made by ministerial regulation in the past, so verify the rate for the month being filed. Ask our Thai accounting team to review your position by phone, LINE or email before you file.

Question 13

What does the Accounting Act require of a Thai company?

Accepted Answer

The Accounting Act B.E. 2543 requires registered partnerships, limited companies and public companies to keep accounts from the date of registration, to deliver supporting documents to the bookkeeper, and to close the accounts and prepare financial statements at least once a year. Those statements must be audited and reported on by a licensed CPA, except where a ministerial regulation exempts small registered partnerships meeting the capital, asset and revenue tests. Records must be kept for at least five years under section 14. Ask our Thai accounting team to review your position by phone, LINE or email before you file.

Question 14

When must financial statements be filed with the DBD?

Accepted Answer

A limited company must hold its annual general meeting to approve the financial statements within four months of the financial year end under the Civil and Commercial Code, and file the approved statements with the Department of Business Development within one month of that approval. Registered partnerships file within five months of the closing date. Filing is done through DBD e-Filing, and the shareholder list, form BorOrJor.5, must be submitted within 14 days of the meeting. Ask our Thai accounting team to review your position by phone, LINE or email before you file.

Question 15

Does a dormant Thai company still need an audit?

Accepted Answer

Yes. The obligation under the Accounting Act attaches to the company's legal status, not to whether it traded. A dormant company must still prepare financial statements, have them audited and reported on by a licensed CPA, file them with the DBD, and submit PND.50 to the Revenue Department. Leaving a dormant company unfiled accumulates penalties on both the DBD and Revenue Department sides and complicates any later sale or lending. Ask our Thai accounting team to review your position by phone, LINE or email before you file.

Question 16

What should a company prepare for a Revenue Department audit?

Accepted Answer

An examination normally opens with a letter of invitation or a summons under section 19 or section 23 of the Revenue Code naming the periods and issues. Assemble the financial statements and working papers, general ledger, input and output VAT reports, tax invoices, the underlying contracts, bank evidence of payment and counterparty identification documents. Answer in writing and keep copies of every statement recorded. If you disagree with an assessment, an appeal to the Board of Appeals must be lodged within 30 days of receiving the assessment notice under section 30. Ask our Thai accounting team to review your position by phone, LINE or email before you file.

Licensed Notary Public Attorneys 6 registered

Mr. Jiraphan

Mr. Jirasak

Mr. Patipan

Mr. Warawut

Mr. Wiwat

Miss Anutree

Thai Accounting & Tax Knowledge Hub — VAT · Corporate Tax · Personal Tax · Withholding · Payroll · Audit

Quick answer

Topic clusters

Frequently asked questions — 16

Official sources

Related services

Not sure which service you need? Read the guides