On 04 March 2016, Thailand Revenue Code Amendment Act (No 42) was gazetted amending the prescribed rate of income tax for corporate entities in Thailand.

This Insight has been updated for the tax rates amended by RCAA (No 42).

Corporate Income Tax Rates

For Domestic Thailand Corporate Entities

On the total amount of net profit

20%*

For Domestic Thailand Corporate SMEs (1)

On the amt of net profit up to 300,000 Baht		Exemption from tax
On the amt of net profit frm 300,000 to 3,000,000 Baht		15%
On the amt of net profit over 3,000,000 Baht		20%

(1) A corporate entity established under Thai law with paid up capital at the end of its financial year not exceeding 5 million Baht and income for its financial year not exceeding 30 million Baht.

For Foreign Corporate Entities Carrying on Business in Thailand

On the total amount of net profit

20%*

* As amended by Revenue Code Amendment Act (No 42) gazetted on 4 March 2016.

---