Tax deductibility of expenses
The taxable income of a juristic entity is computed by deducting expenses incurred for the sole purpose of business from all revenue generated (business income, dividends, interests, royalties, etc…) in the same accounting period.
However, the deductibility of expenses and allowances must comply with rules prescribed by the Thai Revenue Code:
How to calculate your CIT?
The CIT is calculated on the company net profits, i.e all revenue deducted by allowable expenses, to which the below tax rates apply:
Taxpayer | Tax base | Tax rate (%) |
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small company * |
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Other types of companies |
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How to submit your CIT?
Companies subject to CIT have the obligation to file their half year tax return (PND.51) within 60 days from the last day of the first 6 months of the ongoing accounting period (e.g by August 31st if the accounting period is ending 31st December), and to file their annual tax return (PND.50) within 150 days from the closing date of the previous accounting period (e.g by May 31st if the accounting period is ending 31st December).