Corporate Income Tax

Most companies in Thailand will have to pay corporate income tax, however there are some special exemptions. Corporate Income Tax (CIT) is the tax paid on company profits. Companies earning under 3 million baht in net profit are subject to 15% whereas companies earning more than this are taxed at 20%. For new businesses under 300,000 baht income per year, no CIT is collected. Different company types will have different tax requirements.

Corporate Income Tax Requirements

%

Small companies (with paid-up capital of less than THB 5 million at the end of each accounting year): Taken from net profits.
Companies listed on the Stock Exchange of Thailand (SET)
Companies that have recently been listed on the Stock Exchange of Thailand: Taken from net profits.
Companies newly listed on the Market for Alternative Investment (MAI): Taken from net profits.

%

Small companies (those with paid-up capital of less than THB 5 million at the end of each accounting year and whose profit does not exceed 3 million baht per year): Taken from net profits.
Foreign companies not conducting business in Thailand but receiving various types of income other than dividends from Thailand: Taken off gross receipts.

%

Banks earning profits from International Banking Facilities (IBF): Taken from net profits.
Foreign companies repatriating profits from Thailand: Taken from gross receipts.
Foreign companies not conducting business in Thailand but receiving dividends from Thai sources: Taken from amount deposited.

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Our Corporate Income Tax Services

Attori Law specialize in comprehensive accounting services tailored to meet the unique needs of businesses navigating corporate income tax (CIT) regulations in Thailand. Our expert team ensures that you take full advantage of available tax incentives, such as exemptions and reductions for BOI-promoted companies, while maintaining compliance with all legal requirements.

As a BOI-promoted company ourselves, we leverage our firsthand experience to help you navigate CIT regulations effectively and maximize your tax benefits.

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Board of Investors (BOI) Listed Companies

BOI-promoted companies in Thailand can receive corporate income tax exemptions ranging from 3 to 15 years, based on their business type and investment. Following this exemption period, they may benefit from a reduced corporate income tax rate, typically set at 50% of the standard rate for a specified duration. Additional incentives include exemptions from import duties on machinery and raw materials, as well as other investment promotion benefits. To maintain these advantages, BOI companies must adhere to the conditions outlined in their promotion certificates, including specified investment levels and operational timelines. Here are some key industries that often benefit from tax exemptions:

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Manufacturing:

High-tech or value-added industries, including electronics, machinery, and automotive parts.

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Renewable Energies:

Projects focused on renewable energy sources, such as solar, wind, and bioenergy.

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Research and Development:

Companies engaged in R&D activities.

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Health and Pharmaceutical:

Investments in healthcare services, pharmaceuticals, and biotechnology development and research.

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Logistics and Transportation:

Industries related to logistics and infrastructure development, particularly those enhancing trade and investment.

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Tourism and Hospitality:

Projects that promote tourism development, including hotels and resorts in targeted areas.

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Digital Economy:

Companies involved in information technology, software development, and e-commerce.

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Agriculture and Food Processing:

Investments aimed at improving agricultural productivity and food safety.

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Corporate Income Tax