Taxation

State aid measures for struggling taxpayers, including deadline extensions for filing income taxes, a 90% reduction in land and building taxes and a reduced 0.01% fee for property transfers and mortgages, are scheduled to go before the cabinet next week.Prime Minister Prayut Chan-o-cha made an ...

Finance Minister Arkhom Termpittayapaisith has ordered the Excise Department to study the excise tax structure on electric vehicles (EV) to promote industry development and lower the price of EVs.Speaking after visiting the Excise Department on Friday, Mr Arkhom said the government has lowered the excise ...

The cabinet has approved the cut of the tax on land and buildings by 90% of the amount due for the 2020 tax year to relieve people’s burden, Prime Minister Prayut Chan-o-cha said.The cabinet approved on Tuesday a royal decree on the cut as proposed ...

Due to the global crisis caused by the COVID-19 pandemic, the Thai government has implemented a number of important initiatives aimed at supporting the Thai economy and affected industries.As part of these initiatives, the Ministry of Finance of Thailand has enacted several important short term ...

The revenue target for the three tax-collecting agencies this fiscal year is unlikely to be met after the Covid-19 outbreak disrupted business activities.The Revenue Department’s tax collection fell short of its target by 2.2% for the first half of this fiscal year, and the magnitude ...

In March 2019, the Thai government introduced the new Land and Building Tax Act B.E. 2562, which has been in effect since January 1, 2020.The Act obligates individuals, corporate entities, or any beneficiaries of land or buildings, to pay land and building tax. The new ...

The Excise Department has put on hold a process to consider levies on salty food and non-alcoholic beer until the Covid-19 epidemic is under control, its chief says.Given that containing the deadly virus outbreak is the top priority of the Public Health Ministry, which plays ...

Although the land and building tax will be implemented at the beginning of next year, tax filing for the measure will be scheduled for August instead of April because of some uncompleted organic laws, says the Fiscal Policy Office (FPO).The Interior Ministry, which shares responsibility ...

The government has launched a so-called super savings fund (SSF) aimed at encouraging people to invest in long-term mutual funds by offering tax deductions of up to 30 per cent of annual income.The Cabinet approved the Finance Ministry’s proposal on the new tax scheme, Finance ...

The Excise Department will devise a method to refund overpaid taxes to oil exporters in a manner that stems leakages, its chief says.The change in the tax refund practice will use blockchain, which the department plans to adopt by the middle of next year, said ...