Thailand Accounting Fees Corporate Tax Deduction
Tax Insight | May 2016
On 16 May 2016 Royal Decree (No 607) was gazetted putting into effect the Governments resolution to provide a temporary corporate tax deduction concession for expenditure paid out as accounting fees to students studying accounting at a vocational school or university. This Tax Advantage Insight Article summarizes the prescriptions in Royal Decree (No 607).
The Tax Concession
An exemption from corporate income tax equal to 100% of the amount of expenditure paid out as accounting fees to students studying accounting at a vocational school or university (i.e. a double (200%) corporate income tax deduction for such accounting fees).
For 3 fiscal years beginning on or after 1 January 2016 and before 31 December 2018.
Rules and Conditions
The rules and conditions prescribed in Royal Decree No 607 for this tax concession are that:
If you wish to claim this corporate tax deduction concession, it's important to comply with the Director-General's prescriptions, as a failure to do so will cause the Revenue Department's tax audit officers to disallow the claim.
This Tax Insight Article is general information only. It should not be used to determine any matter without consulting with an experienced Thailand tax advisor.