ARIYA TAX UPDATES : 5-October-2020 Recent Corporate Income Tax Exemption/Exemption tax for Seminar expense, Employee costs, Machine purchase costs etc

ARIYA TAX UPDATES : 5-October-2020 Recent Corporate Income Tax Exemption/Exemption tax for Seminar expense, Employee costs, Machine purchase costs etc

ARIYA TAX UPDATES： 5 – October – 2020

Even though we give it our best shot, it is true that we sometimes miss the target. That’s why implementation of the information keenly requires an advice of the experts, such as us.

Recent Corporate Income Tax exemption

  1. Corporate Income tax exemption for expenses paid for seminar to an employee
  • NEW Royal Decree (No.712)

Corporate income tax exemption at 150% as Expenses paid for a seminar approved by Director-General during1 January 2019 – 31 December 2020(This will be published in Tax news October 2020. Detail conditions will be issued by Director General Notification in the future).

  • Royal Decree(No. 697) /NEW Director-General Notification on income tax (No380)

Corporate income tax exemption at 100% as Expenses such as Seminar expenses, accommodation, and traveling expenses etc paid for a seminar held in Thailand for an employee(The Royal Decree(No.697) published in Tax news July 2020, The director-General Notification (No.380) published in Tax news September 2020).

  • Royal Decree (No.437) / Director-General Notification on income tax (No148)　

From 19 October 2005 onwards, Corporate income tax exemption at 100% as Expenses paid for a seminar at (1) a vocational training center or educational institution established by the government or as specified in a Ministerial Notification of Finance, or (2) a seminar approved by Ministry of Labour for an employee (The Royal Decree (No.437) published in Tax news January 2006, The director-General Notification (No.148) published in Tax news February 2006)

  1. Corporate Income Tax Exemption for Employee Costs
  • NEW Royal Decree (No. 711)

For any company approved targeted industry business, corporate income tax exemption at 50% as employee costs paid to an employee having high skill in the field of Science, Technology, Engineering and/or Mathematics(STEM)(This will be published in Tax news October 2020. Detail conditions will be issued by Director General Notification in the future).

  • Royal Decree（708）/NEW Director-General Notification on income tax (No.382)

For Small Medium Company, corporate income tax exemption at 200 % as employee’s wage at not more than 15,000 Baht paid to employees during April 2020- July 2020. (The Royal Decree (No.708) published in Tax news August 2020, the Director-General Notification (No.382) published in Tax news September 2020).

  1. Corporate Income Tax Exemption for purchase costs of Machinery
  • Royal Decree (No.695)/Director-General Notification (No.378)

Corporate income tax exemption at 150% as purchase expense actually paid for machinery installed during 1 January 2020 – 31 December 2020 (Royal Decree (No.695) published in Tax news July 2020, Director-General Notification (No.378) published in Tax news August 2020).

  1. Corporate Income Tax Exemption for construction expenses caused by addition, change, expansion or improvement of Hotel.
  • Royal Decree(No.698)/NEW Director-General Notification on income tax（No.381）

Corporate income tax exemption at 150% as construction expenses caused by caused by addition, change, expansion or improvement of Hotel, ordered and actually paid during 1 January 2020-31 December 2020. (The Royal Decree(No.698) published in Tax news August 2020, Director-General Notification published in Tax news September 2020)

  1. Corporate Income Tax Exemption for purchase costs of Biodegradable plastic products
  • Royal Decree(No.702)/NEW Director-General Notification on income tax(No.388)

Corporate income tax exemption at 25% as the purchase costs of Biodegradable plastic products actually paid during 1 January 2019 – 31 December 2021.(The Royal Decree (No.708) published in Tax news July 2020, Director-General Notification (No.388) published in Tax news September 2020)

 

 

 

Comments are closed.