Legal Entities Exempt from Corporate Income Tax
Other legal entities, besides those mentioned above, and specifically those established under Thai law, such as ministries, departments, government agencies, and cooperatives, are not subject to corporate income tax.
However, there are certain types of legal entities that would otherwise be liable for corporate income tax under the Revenue Code but are exempted under various legal provisions, including:
- Companies or Partnerships:
- Limited Companies:
- Limited Companies and Other Entities:
- Companies or Partnerships in Countries with Double Taxation Agreements:
Entities that are bound by agreements between the Thai government and foreign governments related to economic or technical cooperation agreements.
Companies that are exempt from corporate income tax under the Investment Promotion Act.
Limited companies or other legal entities with the same status as limited companies, whether established under Thai or foreign law, that are exempt from corporate income tax under the Petroleum Income Tax Act.
Companies or partnerships based in countries that have a double taxation agreement with Thailand, according to the terms specified in the agreement.