
How to calculate WHT?
Withholding tax rates applicable to Thai resident companies:
Rate charges
Rental | 5% |
Service rental fee | 3% |
Shipping cost (*) | 1% |
Advertising costs | 2% |
Non-life insurance premium | 1% |
Professional fees | 3% |
Royalty | 3% |
interest | 3% |
Dividend | 10% |
Prize money | 5% |
water bill, electric bill | No Deduction |
public transport / air ticket / air ticket | No Deduction |
NOTE:
(*) not available for public transport
Example of WHT calculation:
Service fee | Together | Tax Rates | Tax | All | withholding tax rate | Including withholding tax | Paid to distributors |
---|---|---|---|---|---|---|---|
Rentals | 100,000 | Exclude | – | 100,000 | 5% | 5,000 | 95,000 |
Accounting Fee | 10,000 | 7% | 700 | 10,700 | 3% | 300 | 10,400 |
Air tickets | 20,000 | 0% | – | 20,000 | 0% | – | 20,000 |
Withholding tax filing
Withholding income tax must be filed with the Revenue Department by the 7th day of every month for the previous month’s payment. For example, the withholding tax deducted from the payment made on the 15th of December must be filed with the Revenue Department. by January 7
However, if a registered company submits an electronic form to the Revenue Department You will be able to extend the time for another 8 days to file your tax return. is by the 15th day of the month
Criminal fines and penalties for late filing
- Fines: 1.5%/month of the tax due amount.
- Penalties: 100 THB within the first 7 days / 200 THB after 7 days.
What is a Withholding Tax Certificate?
The WHT constitutes a prepayment of the vendor Corporate Income Tax, that is why the payer deducting the WHT shall provide a withholding tax certificate to the vendor in order to justify the deduction to the Revenue Department.
Such WHT certificates are needed for your monthly WHT submissions which Plizz will prepare as follows:
PND 1 Form: Withholding Tax Return – Employees (for taxes withheld from employees) |
PND 53 Form: Withholding Tax Return – Companies (for taxes withheld from vendors who are juristic persons) |
PND 3 Form: Withholding Tax Return – Individual (for taxes withheld from vendors who are not juristic persons). |