Thailand Corporate Tax Filings Using Foreign Currency
Tax Insight | November 2016
On 29 November 2016, the Thailand Government resolved to approve a drafted Revenue Code Amendment Act for enabling corporate entities to use a foreign (functional) currency for the purpose of computing Thailand corporate income tax.
This Tax Advantage Insight Article summarizes the essence of the proposed new law, as published in the Minutes of the Cabinet Meeting dated 29 November 2016.
Rules for Using a Foreign (Functional) Currency
The Minutes of the Cabinet Meeting also record that the above proposed new law will be effective retroactively for financial years commencing on or after 1 January 2016.
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.