Thailand Corporate Tax Filing Computation
Similarly to the corporate tax systems in other countries, corporate tax filings in Thailand are on the basis of deducting allowable expenses from assessable income.
Assessable income is prescribed in the Revenue Code as “all revenue arising from or in consequence of the business being carried on”.
The Revenue Code additionally prescribes for assessable income:
Capital gains income
For deductions, the Revenue Code prescribes:
Specific Rules for Expenses
A summary of the specific rules for expenses is as follows:
Stock on hand
Specific Expenses Not Allowable as Deductions for Tax Purposes
A summary of the specific expenses that are not allowed as deductions for tax purposes is as follows:
Contributions to funds
Expenses attributable to other years
Expenses determined after the end of the financial year
Expenses for damaged assets
Expenses not for the purpose of profit or business
Expenses paid to identified receivers
Gifts and charitable donations
Provisions and reserves
This is a general information Tax Insight Article only. It should not be used to determine any particular matter without consulting with an experienced Thailand tax advisor.