On 26 December 2024, the Emergency Decree on Top-up Tax was published in the Royal Gazette to support the collection of a global minimum tax of 15% from large multinational enterprises. The new law is based on the Pillar Two Global Anti-Base Erosion (GloBE) Model Rules.
Easy E-Receipt 2.0 personal tax deduction campaign for 2025 new year
Easy E-Receipt 2.0 personal tax deduction campaign for 2025 new year: To help stimulate Thailand’s economy, on 24 December 2024 the cabinet resolved in principle to approve a personal income tax deduction of up to THB 50,000 for qualifying goods and services purchased from 16 January 2025 to 28 February 2025 supported by electronic tax invoices (e-Tax invoice) or receipts (e-Receipt).
Excise Tax relief for hybrid electric vehicles
Excise Tax relief for hybrid electric vehicles: On 4 December 2024, Thailand’s EV Board approved a revised incentive package to temporarily lower the excise tax rate.
Tax exemptions for digital assets
On 24 September 2024, royal decrees no. 788 and 789 issued under the Revenue Code were published in the Royal Gazette, granting tax exemptions for digital assets.
Cabinet approves extension of 7% VAT rate for another year
On 17 September 2024 the Thai cabinet approved in principle a draft royal decree issued under the Revenue Code to extend the 7% VAT rate to September 30, 2025, for the sale of goods, the provision of services and imports.
Thai Revenue Department rules on companies’ relationship based on common shareholding
Thai Revenue Department rules on company relationships based on common shareholding. Article by Amit Bhalla & Andrew Jackomos of HLB Thailand in ITR.
Incentives Approved to Promote JV Investments in Automotive Parts Sector
Thailand’s Board of Investment (BOI) has approved an incentives package to promote investment in joint ventures between Thai and foreign companies to manufacture automotive parts
Improved tax incentives for investment in Thai ESG Funds approved by cabinet
On 30 July 2024 the Thai cabinet approved in principle a Draft Ministerial Regulation proposed by the Ministry of Finance to improve the personal income tax incentives for investment in Thai ESG funds.
Cabinet Approves Tax measures to promote the return of Thai nationals working abroad
On 30 July 2024, the Thai Cabinet approved tax measures proposed by the Ministry of Finance to support Thai nationals working abroad to return to work in the country.
Two-pillar framework: how is Thailand gearing up?
Amit Bhalla and Urika Solano of HLB Thailand provides an update on Thailand’s progress towards implementation of BEPS 2.0 and explains why governmental agencies and multinational enterprises should undertake comprehensive reassessments
