The taxation system raises the revenue from the following taxes:
Corporate income tax;Personal income tax;Withholding tax;Value added tax;Specific business tax;Customs duties; andOther taxes (including excise tax, stamp duty and petroleum income tax).The Ministry of Finance administers the tax collections through three central Government Departments of Revenue; Customs; and Excise. Local Governments levy tax on land (local development tax) and on land with buildings (house and land tax).
Tax RegistrationsEvery individual and corporate entity must register for a Taxpayers Identification Card and in the case of a corporate entity the registration must be within 60 days from the date of received income.

All enterprises having income subject to either VAT or Specific Business Tax are also required to register for such tax at least 15 days prior to the commencement of business.
Corporate Income TaxCorporate entities which are registered under the Thai law, or which are registered under a foreign law and carrying on business in Thailand, are subject to corporate income tax.

Companies and partnerships are taxed on the income earned from sources within and outside Thailand (worldwide income), whereas foreign corporations are taxed only on income derived from sources within Thailand.

International TransportationFor companies or partnerships organized under foreign laws and engaged in the business of international transportation, corporate income tax is imposed in the following manner:

In the case of transport of passengers, tax is paid at the rate of 3% of the fares, fees and any other benefits collectible in Thailand in respect of the transport business, before the deduction of any expenses;In the case of transport of goods, tax is paid at the rate of 3% of the freight, fees and any other benefits collectible (whether in Thailand or elsewhere) in respect of the transportation of goods from Thailand, before the deduction of any expenses.Foundations and AssociationsFoundations and associations are subject to either 2% or 10% income tax, depending on the type of gross revenues, except that membership fees and dues are tax-exempt.

Thailand is a great place to visit. Thailand is place not just full of rich culture but also of eventful incidents.

September 19, 2006 was the date when a coup occurred in Thailand and disrupted the democratic constitutional monarchy. On October 1, 2006, the Gen. Surayud Chulanont was declared the new Prime Minister, along with the swearing of Thailand’s monarch in the post-coup cabinet.However, despite this drastic change, it did not deter the spirit of Thailand or affect the people as such. This was because the change was not physical but constitutional. It also did not have any effect on the tourism coming to see and enjoy the splendor and beauty of Thailand. Around 5 percent of Thai’s GDP is contributed by tourism.In addition to tourists, rice exports also contribute substantially to Thailand’s economy. Every year, Thailand exports around 6.5 million tons of milled rice and is ranked number one in the world in the rice export. Rice is the staple food of the country and 55 percent of the available land area is dedicated to rice cultivation. If you are a food expert, you must have heard of the famous Thai rice served with Thai chicken curry.In addition to rice, other major products that are exported include fish products, rubber, textiles, jewelry, computers and electronic appliances, automobiles, and many more.

Thailand is rich in natural resources as well. Fish, tin, rubber, natural gas, timber, tungsten, tantalum, lead, gypsum, lignite, fluorite and arable land are all considered to be the natural resources of Thailand.