Thailand Offers New Tax Amnesty Scheme

New Tax Amnesty Scheme offered by Thai Government

The Thai Government — under its Emergency Decree on the Collection of Tax under the Revenue Code B.E. 2558 (2015) and Royal Decree No. 595 — is offering qualifying companies and juristic partnerships a range of new tax rate reductions and exemptions, including:

– Exemption from tax inspections, investigations, assessments, and orders to pay taxes/duties; and
– Exemption from criminal charges that relate to income earned during the accounting period before 1 January 2016.

The new law, which became effective on 1 January 2016, requires the following criteria to be met:

A. SPECIAL EXEMPTION FROM TAX INSPECTIONS will be applied to any company or juristic partnership whose income from the previous accounting/tax period does not exceed THB 500 Million and that registers with the Revenue Department during the period 15 January to 15 March 2016.B. EXEMPTION OR REDUCTION OF CORPORATE INCOME TAX will be applied to any company or juristic partnership that qualifies under the Emergency Decree, which has a paid-up capital not exceeding THB 5 Million and whose total income for the year 2015 does not exceed THB 30 Million.

Other conditions apply that include: to file relevant tax returns; to pay corporate income tax, VAT, specific business tax and stamp duty (if any); as well as to prepare accurate accounting information, all as from 2016.

Registration for such reductions and exemptions with the Revenue Department is required by 15 March 2016. All companies and juristic partnerships that meet the above criteria are strongly advised to apply.

For more information, contact Mr. Andreas C. Richter at:


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