tax
- Business News
Thailand charges ahead with tax breaks for hybrid vehicles
Tax incentives for the manufacturing of plug-in hybrid vehicles (PHEVs) in Thailand are being proposed, with implementation anticipated from 2026 pending approval, as announced by Deputy Finance Minister Paopoom Rojanasakul. The proposal, which aims to link tax rates to a vehicle’s battery charge travel range, will be presented to the Cabinet by April. To boost PHEV adoption, the government is…
- Thailand News
Luxury car executive busted for 160m baht tax dodge
A 48 year old executive of a luxury car import company was apprehended in Ayutthaya for allegedly evading taxes amounting to 160 million baht. The car executive, Chakri, claims his identity was wrongly used, suggesting someone registered the company using his personal information without his knowledge. Yesterday, February 5, Police Colonel Tatsapoom Jaruprat, acting commander of the Economic Crime Suppression Division…
- Business News
Government extends excise tax cut for entertainment venues to boost tourism
The government has decided to extend the current excise tax reduction for entertainment venues, such as pubs, bars, nightclubs, and cocktail lounges, for another year to bolster tourism. This decision was announced by Deputy Finance Minister Paopoom Rojanasakul following a Cabinet meeting held yesterday, December 24. The extension will see the excise tax rate decrease from 10% to 5% of…
- Thailand News
Thailand launches tax rebate scheme with 50,000 baht cap
The Thai government has introduced the easy e-receipts initiative, allowing eligible purchases to be deducted from personal income tax. Deputy Finance Minister Julapun Amornvivat confirmed the Cabinet’s approval of the scheme, which is set to roll out from January 16 to February 28 next year. The deductions will be applicable for the 2026 tax filing period. Participants in this programme…
- Business News
Revenue department sees 2.1% rise in revenue collection
Collection by the Revenue Department has shown a notable increase in the first two months of fiscal 2025, with a 2.1% year-on-year growth. The surge is largely credited to initiatives aimed at integrating individuals outside the tax system into compliance, along with intensified measures against tax evasion. Director General Pinsai Suraswadi reported that in October, the department successfully collected 146…
- Business News
Excise Department to reassess retail prices for higher tax revenue
The Excise Department is set to reassess the recommended retail prices that form the foundation for calculating excise taxes. This revision comes as many products’ current prices are estimated to be 5% to 10% below the actual selling prices. According to Bangkok Post, a source from the department indicated that setting recommended retail prices too low results in reduced revenue…
- Thailand News
Thailand cuts car taxes to boost electric vehicle production
Thailand’s National Electric Vehicle Policy Committee has approved a revamped car tax structure to bolster the production of hybrid vehicles and transition from internal combustion engines to electric power. Chaired by Prime Minister Paetongtarn Shinawatra, the committee aims to position Thailand as a leading hub for electric vehicle (EV) and electric motorcycle production in Southeast Asia. Narit Therdsteerasukdi, the Secretary-General…
- Business News
Thailand proposes VAT hike, cuts income tax to boost economy
Finance Minister Pichai Chunhavajira has proposed a shift in Thailand’s tax strategy to bolster state revenue and enhance the nation’s economic standing. The plan includes raising the value-added tax (VAT) while reducing corporate and personal income tax rates. This approach aims to drive national development, increase competitiveness, and address domestic disparities. The Organisation for Economic Co-operation and Development recently set…
- Thailand Travel
How to renew your road tax in Thailand
Navigating the process of renewing road tax in Thailand might seem daunting at first, especially if you’re unfamiliar with the local procedures. Yet, staying on top of this crucial task ensures your vehicle remains legally compliant and contributes to the upkeep of Thailand’s road infrastructure. With the right preparation, you can tackle language barriers and unfamiliar procedures with ease. Whether…
- Automotive
Why are cars so expensive in Thailand?
Cars in Thailand come with hefty price tags, leaving many people wondering why they’re so expensive. The rising cost of both new and used cars in Thailand can be confusing, but by looking into the factors behind these prices, we can uncover a complex combination of taxes, import duties, and market forces that contribute to the overall expense of car…
- Phuket News
Phuket’s new tourism tax won’t affect foreign residents or workers
Phuket’s Ministry of Tourism and Sports (MoTS) has confirmed that the upcoming tourism tax, expected to be implemented early next year, will not impact foreigners who reside or work in Thailand. A MoTS Phuket official clarified that the proposed tax has not yet been presented to the Cabinet for approval. “We should wait for any further information because now the…
- Thailand News
Three arrested in Bangkok for 28 million baht tax evasion
Three company directors were arrested for tax evasion by issuing fake invoices and evading VAT, causing over 28 million baht in damages to the Revenue Department. The arrests, which took place yesterday, October 21, were conducted by the Economic Crime Suppression Division (ECD). Police Major General Phutthidet Boonkrapue ordered the operation, with Police Colonel Chatchawan Chuchaiyarit, Police Lieutenant Colonel Watit…
- Business News
Tax exemption for corporate insurance payouts amid flood recovery
The Cabinet has sanctioned a tax exemption for corporate income derived from insurance payouts for policyholders impacted by this year’s floods. Government spokesman Jirayu Houngsub announced after the Cabinet meeting that companies in flood-affected areas with insurance coverage against floods will have their insurance payouts exempted from income tax, as per the Finance Ministry’s directive. For business operators needing loans…
- Thailand News
Thailand to explore new tax system for ageing population
Thailand must urgently adjust its tax structure and increase tax participation to address future expenses related to its ageing population, according to Deputy Finance Minister Julapun Amornvivat. The Finance Ministry is exploring a negative income tax (NIT) system to assist individuals with incomes below a government-set threshold. Julapun clarified that the goal is to ensure residents can sustain their livelihoods,…
- Business News
Driving change: Thai tax breaks on cars for the elderly, disabled
The Excise Department is set to introduce a new ministerial regulation to waive taxes on cars designed specifically for the elderly or people with disabilities. This regulation would reduce the current excise tax rate of 25 to 40% on such vehicles. Ekniti Nitithanprapas, director-general of the department, explained that vehicles with over 10 seats, such as passenger vans, are currently…
- Business News
Thailand to introduce carbon tax to curb emissions this year
Thailand is set to implement a carbon tax this year, Deputy Finance Minister Paopoom Rojanasakul announced at the Road to Net Zero 2024: The Extraordinary Green event. The Finance Ministry plans to propose the carbon tax measure to the Cabinet for approval soon, with the goal of rolling it out in the coming months. Paopoom explained that this measure aims to…
- Politics News
Thaksin’s taxing plan to tackle poverty in Thailand
Thaksin Shinawatra is making more waves to shake up Thailand’s social, economic and political scene. His latest pitch? A negative income tax (NIT) to shake up Thailand’s tax system. This isn’t the first time NIT has been floated in Thailand. Over a decade ago, the Finance Ministry’s Fiscal Policy Office (FPO) proposed something similar, and it was included in the…
- Thailand News
Nonthaburi noodle vendor investigated for gold purchase taxes
A noodle vendor in Nonthaburi announced plans to purchase an additional 100 baht of gold jewellery, despite already owning over 40 baht of gold. This revelation sparked discussions on social media about the profitability of his business amidst an economic slowdown and rising gold prices. The owner of Hong Te Noodle, Rangsan Suwannason or Cake, located in front of Krisada…
- Business News
PM Srettha orders Temu to comply with Thai tax laws
Prime Minister Srettha Thavisin directed the Revenue Department and the Ministry of Digital Economy and Society (DES) to ensure the new Chinese online retailer Temu adheres to Thai regulations and meets tax obligations. The directive aims to address concerns from local industries about the potential influx of inexpensive Chinese products affecting Thai manufacturers. The introduction of Temu, a Chinese e-commerce…
- Business News
Tax relief planned for businesses after minimum wage hike
The Finance Ministry is poised to introduce measures to support businesses impacted by the recent increase in the minimum wage. The ministry confirmed that the wage hike must be paired with tax measures to lessen the burden on businesses, following precedents set by past wage increases. Deputy Finance Minister Julapun Amornvivat stated that the goal of the minimum wage increase…
- Business News
Jet fuel tax relief losing altitude, says deputy finance minister
The Finance Ministry appears unlikely to extend the jet fuel excise tax reduction, which was initially introduced during the Covid-19 pandemic, stated Deputy Finance Minister Julapun Amornvivat. Julapun addressed a recent proposal by a group of budget airlines seeking further reductions in the jet fuel excise tax. He remarked that such requests are not of immediate importance. Julapun highlighted that…
- Business News
Thai hotels seek tax breaks for renovations and EV charger installs
Operators of Thai hotels are advocating for tax deductions or subsidies to support renovation investments, especially those focused on green energy initiatives. The Tourism Authority of Thailand (TAT) also urged hotels in second-tier cities to install electric vehicle (EV) chargers to cater to the increasing number of travellers using EVs. The Thai Hotels Association (THA) is set to meet with…
- Business News
Local governments digging deep into land tax challenges
Local governments face a significant challenge in evaluating underutilised land plots to determine the appropriate tax burden under the land and building tax, according to finance permanent secretary Lavaron Sangsnit. Lavaron noted that the tax law, effective for five years, is currently under review for potential amendments. A key issue under scrutiny is the enforcement and interpretation of land utilisation.…
- Business News
New tax deductions approved to boost secondary city tourism
The Cabinet yesterday approved measures aimed at boosting tourism in secondary cities during the low season. Deputy Finance Minister Paopoom Rojanasakul announced that the new measures target both companies holding seminars and individuals travelling for leisure. Companies can now deduct expenses from corporate income tax for seminar rooms, accommodation, transport, and other related costs for domestic seminars held for employees,…
- Business News
Thailand to introduce carbon tax by 2025, oil tax burden unchanged
The Excise Department plans to introduce a carbon tax by 2025, with the overall oil tax burden expected to remain unchanged. This move aims to align with the Global Warming Act, which is set to be enacted in 2025. According to the Director-General of the Excise Department, Ekniti Nitithanprapas, the department has examined global practices for implementing a carbon tax…
- Thailand News
Taxing times: Tourism Minister stands firm with 300 baht tourist tax
In a recent press conference, Thailand’s new Tourism and Sports Minister, Sermsak Pongpanich, hinted at the impending introduction of a tourist tax, known as the Kha Yeap Pan Din, translating to a landing fee. Although no specific timeline was provided for its implementation, the newly-appointed minister emphasised the unlikelihood of abandoning the proposed tax. Sermsak, formerly the Culture Minister, assumed…
- Thailand News
DSI shifts gears, catches Thai man for swerving luxury car taxes
Department of Special Investigation (DSI) officers arrested a Thai man yesterday for evading 42 million baht in taxes on the import of nine luxury cars. The DSI arrested the suspect, Chettha, at his accommodation, Uthong Mansion, in the Wang Thonglang district of Bangkok yesterday, May 29. Chettha is charged under Section 243 of the Customs Act for importing goods to…
- Thailand News
Land and building tax revenue to hit 43 billion baht this year
The Finance Ministry anticipates the land and building tax collection to reach 43 billion baht this year, marking an increase of 8 billion from the previous year due to the discontinuation of the tax discount. Finance Permanent Secretary Lavaron Sangsnit, speaking at a property seminar on the fifth anniversary of the tax’s implementation, revealed that the ministry is currently reviewing…
- Business News
Thai hotels urge reform of unfair land and building tax rates
Hotels are calling for a revision of the property tax calculation based on land appraisal prices and business income to address the uneven recovery within the hospitality industry. President of the Thai Hotels Association (THA) Thienprasit Chaiyapatranun highlighted that the land and building tax remains a significant challenge for hotel operators. This year, the full rate is set to be…
- Business News
MNEs taxed to curb profit sharing, 12 billion baht revenue expected
The Revenue Department anticipates the implementation of draft legislation aimed at taxing multinational enterprises (MNEs) to curb profit shifting to low-tax jurisdictions by 2025. This move is expected to enhance tax revenue by 12 billion baht annually. Director-General Kulaya Tantitemit revealed that the draft legislation incorporates the Top-up Tax Act, which aligns with the Organisation for Economic Co-operation and Development’s…
