Taxes in Thailand are governed by the Revenue Code, which follows the concept of a self-assessment system. The Revenue Department of the Ministry of Finance is responsible for administering taxes, which are imposed on regional and national levels.
Direct taxes
- Corporate income tax;
- Personal income tax; and
- Petroleum tax.
Indirect taxes
- Value-added tax;
- Specific business tax; and
- Land and building tax.
Value-added tax
The value-added tax (VAT) rate is currently at seven percent until September 30, 2023, as part of the government’s efforts to boost the economy post-COVID-19. The normal VAT rate was 10 percent rate.
Source: aseanbriefing.com
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