Tax Obligations of Corporate Income Tax Payers in Thailand
Corporate income tax payers include companies or partnerships that are legally registered under the Civil and Commercial Code, as well as other legal entities not registered under the Civil and Commercial Code. These include:
- Companies or Partnerships Registered under Thai Law:
- a. Limited companies
- b. Public limited companies
- c. Limited partnerships
- d. Registered ordinary partnerships
- Companies or Partnerships Registered under Foreign Laws:
- a. The foreign company or partnership conducts business in Thailand (Section 66, paragraph 1 of the Revenue Code).
- b. The foreign company or partnership conducts business both in other locations and in Thailand (Section 66, paragraph 2 of the Revenue Code).
- c. The foreign company or partnership conducts international transport business, including in Thailand (Section 67 of the Revenue Code).
- d. The foreign company or partnership does not operate in Thailand but receives assessable income under Section 40(2), (3), (4), (5), or (6) from or in Thailand (Section 70 of the Revenue Code).
- e. The foreign company or partnership that pays corporate income tax in Thailand under Section 76, paragraph 2, and Section 76 bis of the Revenue Code, has distributed profit or other reserves out of the country (Section 70 bis of the Revenue Code).
- f. The foreign company or partnership does not directly operate in Thailand but has employees, agents, or representatives conducting business in Thailand, resulting in income or profits in Thailand (Section 76 bis of the Revenue Code).
- Entities Operating for Profit:
- a. Foreign governments
- b. Foreign government agencies
- c. Other legal entities established under foreign law
- Joint Ventures:
- a. Company with a company
- b. Company with a legal partnership
- c. Legal partnership with legal partnership
- d. Company and/or legal partnership with an individual
- e. Company and/or legal partnership with a non-legal entity group
- f. Company and/or legal partnership with an ordinary partnership
- g. Company and/or legal partnership with another legal entity
- Foundations or Associations:
- Other Legal Entities:
These entities are liable for corporate income tax in Thailand only if they meet one of the following conditions:
A joint venture refers to a business operation carried out for trade or profit by the following combinations:
Foundations or associations that conduct business and generate income, excluding those declared by the Minister to be public charitable organizations or institutions.
Legal entities designated by the Director-General with the approval of the Minister and announced in the Royal Gazette as companies or partnerships subject to the provisions of the Revenue Code.