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Corporate Income Tax in Thailand

You Focus on Earning Profits, Let Us Do The Tax Filing

corporate income tax in thailand

Let us handle your Corporate Income Tax Obligations in Thailand

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  • To remain in compliance with the tax obligations, companies that are subject to Corporate Income Tax in Thailand must adhere to certain conditions and deadlines.

    Why you need us to file your Corporate Income Tax in Thailand?
  • Access Services of Thai Certified Public Accountants
  • Avail best-in-class Tax Audit Services in Thailand
  • We stay updated on latest Thai Statutory Audit Standards
  • Working Knowledge of International Revenue Standards
  • Practical Expertise in Double Tax Treaties
  • On-time Filing to Save you from Late Fines and Penalties
  • We Comply Strictly with Thai Accounting & Audit Standards
  • We extend tax filing support to both Thai and Foreign Businesses


Both Thai and international businesses operating in Thailand are required to submit Form CIT 50 tax returns and make tax payments within 150 days of the end of their accounting periods.

Rely on Konrad Legal Company Limited to handle the Corporate Income Tax filing for your company in Thailand, and don’t hesitate to get in touch with us for guidance anytime you need it.

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What is a Thai Corporate Income Tax (CIT) in Thailand?

Corporate Income Tax in Thailand is a direct tax imposed on a juristic company/partnership, conducting business in Thailand or not, but deriving some income from the country.

Juristic Companies/Partnership for Corporate Income Tax Purposes in Thailand under Thai Law

  • Limited Companies
  • Joint Ventures
  • Registered Ordinary and Limited Liability Partnerships
  • Foundations and Associations
  • Foreign Corporations earning from Thailand Sources

What to Include and Exclude when Calculating CIT Tax

  • CIT is computed from the company’s net profit.
  • Revenues from or in consequence of the company operating business in an accounting period is taken into account while deducting all expenses in relation to the condition stated by the Revenue Code.
  • One-half of dividends received from Thai companies by Thai companies are likely to be excluded from the taxable income. Nevertheless, the full amount may be excluded if the recipient is listed in the Stock Exchange of Thailand, else own minimum of 25% of the company’s capital interest.
  • Deductible Expenses in calculating CIT are;
  1. Ordinary and important expenses such as, 200% deduction of Research and Development expense and 200% deduction of job training expense, etc.
  2. Taxes, other than Corporate Income Tax and Value Added Tax given to the government.
  3. Wear and tear.
  4. Provident fund contributions.
  5. Entertainment expenses reaching up to 0.3%.
  6. Bad debts.
  7. Interest, except the interest on the company’s capital reserves.
  8. Donations of up to 2% of the net profits.
  • Deductible Expenses from Net Profits;
  1. Reserves.
  2. Funds, except PF.
  3. Service fee.
  4. Personal gifts and donations for charitable purpose.
  5. Fine or surcharge.
  6. Part of the shareholder’s salary.
  7. Remuneration for assets that a company/juristic partnership own.
  8. Value of assets except devalued assets that are subject to 65 Bis, etc.

Juristic Companies/Partnership for Corporate Income Tax Purposes under Foreign Law in Thailand

  • Doing business in Thailand
  • Conducting business in other places and Thailand
  • Doing business in other places and Thailand, in case of carriage of passengers and goods
  • Has an agent, an employee or a go-between for doing business in Thailand while receiving income and profits in the country
  • Not doing business in Thailand but receiving income from or in the country under Section 40 (2) (3) (4) (5) or (6)
  • Joint Venture
  • Carrying out business in a commercial or a profitable manner by the foreign government, juristic person under a foreign law or organization of a foreign government
  • An association operating a revenue generating business without including the association as confirmed by the Minister complying with Section 47 (7) (b) under the Revenue Code

Three Things to Consider for Corporate Income Tax Filing

  • Return should be followed by the audited financial statement.
  • 20% of the deficit would be fined to the taxpayer on failing to pay the tax
  • 50% of the estimated income tax must be paid by the end of the 8th month

File a Tax Return or Payment

  • File tax returns in accordance with Form CIT 50 within 150 days from the ending date of the accounting periods.
  • Tax payments need to be submitted along with tax returns. Firms disposing funds out of Thailand must pay tax on the sum disposed within 7 days from the date of disposal (Form CIT 54).
  • Company subject to Corporate Income Tax in Thailand should repay tax (Form CIT 51). Annual net profits alongside tax liability should be estimated to pay half of the tax within two months after the first six months of the accounting period.
  • A foreign company that is not operating any business in Thailand is subject to file a flat tax rate and the payer should withhold tax at source while making the payment. Form CIT 54 must be filed to pay the Revenue Department.

Frequently Asked Questions

Apparently, the CIT rate in Thailand is 20% although this might vary based on the types of taxpayers.

A small company will have a paid-up capital of less than five million baht at the end of the accounting period.

The Government agencies withhold tax at the rate of 1% on all kinds of income paid to the companies.

Presently, Thailand has signed tax treaty agreements with forty-nine countries, including Cyprus, Canada, China, New Zealand and Uzbekistan and much more.

The VAT is typically imposed on goods and services imported in Thailand.

It is charged on the net profit at the rate of fifty percent after allowing deductions.

Yes. This type of tax is imposed on companies like finance, pawnshops, real estate and banking, whose value added is quite difficult to define.

CONTACT US

KONRAD LEGAL COMPANY LIMITED

2 Pacific Place Building, 12th Floor,
Unit 1209, No.142, Sukhumvit Road,
Klongtoey, Bangkok 10110

Phone: +66 2626-0277

officer@konradlegal.com
info@konradlegal.com

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