Thailand New Start-Up Business Tax Structures
Update | February 2017
On 13 Feb 2017, Royal Decree (No 637) was gazetted, extending the 5 years corporate income tax exemption for New Stat-Up Businesses under Royal Decree (No 602) for New Start-Up Businesses incorporated between 01 January 2017 and 31 December 2017. This guide has been updated for the extended period prescribed in Royal Decree (No 637).
New Start-Up Business Tax Structure
A New Start-Up business tax structure is a Thailand company or juristic partnership that:
* As prescribed in Royal Decree (No 602) issued on 18 April 2016.
** As prescribed in Royal Decree (No 637) issued on 12 February 2017.
Targeted Industry Business Types
The Targeted Industry Business Types are businesses that operate within the Government-promoted 10 targeted industries, as follows:
A New Start-Up business that complies with all of the rules, procedures and conditions is entitled to the following tax concession under Royal Decrees (No 602) and (No 637):
Rules, Procedures and Conditions
A New Start-Up business that wishes to claim the above tax concession shall:
As a company claiming a tax concession in Thailand, it is likely that a New Start-Up will be rigorously investigated by the Thailand Revenue Department's tax audit officers, and if the tax audit officers should find any one of the rules, procedures and conditions has not been fully complied with, the New Start-Up business could lose its entitlement to the concession and be required to pay back-taxes at the normal rates of tax plus penalty and surcharge.
This Tax Insight is general information only. It should not be used to determine any particular matter without consulting with an experienced Thailand tax advisor.