In Thailand, Specific Business Tax (instead of Value Added Tax) applies to certain types of business income transactions. The certain types of transactions and the rates of Specific Business Tax applying to those transactions are as follows:
Income Transaction:
SBT Rate*
Commercial banking businesses
3.30%
Finance, securities and credit foncier businesses
3.30%
Life insurance businesses
2.75%
Pawnbroking businesses
2.75%
Businesses undertaking transactions similar to commercial banking transactions
3.30%
Sales of immovable property transactions undertaken in a commercial manner or for profit
3.30%
Sales of securities on the Thailand stock exchange
Exempt
Securities trading businesses
3.30%
Factoring businesses
3.30%
Commercial banking, finance, securities and credit foncier businesses under Royal Decree (No 469)
0.011%
* Including the local municipality levy, which is 10% of the tax rate prescribed in the Revenue Code
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