Cabinet Allows Tax Break on Software-related Expenses BANGKOK (NNT) – The Cabinet has approved a measure to allow small-and-medium-sized enterprises (SMEs) to use their software or computer program-related expenses as a deductible against corporate income tax due, at the rate of two times the expense in some cases. Revenue Department Director-General Dr Ekniti Nitithanprapas said…
Why pay 7% VAT and what do you get in return BAGKOK (NNT) – Valued Added Tax, or VAT, is a familiar concept among the Thai people but is brought up for debate on an almost annual basis, often becoming a political issue. What are the origins of VAT What is the VAT rate in…
Thailand Widens Fiscal Stimulus With Tax Breaks to Spur Growth Thailand will extend tax incentives to millions of its middle and upper income groups to fire up consumption and counter the nation’s worst economic slump triggered by the coronavirus pandemic. The concession will allow about 3.7 million taxpayers to deduct 30,000 baht ($96) each from…
First-home stimulus measure may have limited impact on Thailand’s housing market The first-home buyers who make less than 25,000 baht per month however will not benefit from this scheme. The Thai government has released a housing stimulus measure which grants personal income tax allowance for buyers of first homes worth up to 5 million baht…
Tax exemption to be clarified for annual interest less than 20,000 baht The banks will have to submit interest income information to the Revenue Department for consideration BANGKOK, 25 April 2019(NNT) – On the requirement for depositors with an interest income of less than 20,000 baht per annum, officials from the Revenue Department, the Thai…
World Bank cuts Thailand’s growth rate projection to 3.8% Growth in developing East Asia and the Pacific (EAP) is projected to soften, while growth rate in Thailand is expected to be slightly lower in 2019 Growth in developing East Asia and the Pacific (EAP) is projected to soften to 6.0 percent in 2019 and 2020,…
Thai Banks to tax savings interest above 20,000 baht BANGKOK, 23 April 2019 (NNT) – The Thai Bankers Association has held a meeting to find a solution to the savings interest tax and to provide maximum convenience to bank customers who might be obliged to divulge their savings account activity to the Revenue Department so…