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.