by Ingo Siewert | Dec 9, 2024 | Thailand Tax
What is Stamp Duty? Stamp duty is a tax levied on specific legal instruments rather than on transactions or individuals. Under the Revenue Code, an “instrument” refers to any document subject to stamp duty. The regulations governing stamp duty are outlined...
by Ingo Siewert | Nov 8, 2024 | Thailand Tax
Facing a Revenue Department audit can feel daunting, especially if you’re unsure of what to expect. In Thailand, the Revenue Department regularly conducts audits to ensure compliance with tax laws and regulations. While audits are a standard procedure, knowing how to...
by Ingo Siewert | Oct 21, 2024 | Corporate Tax
Understanding VAT in Thailand: What You Need to Know Value Added Tax (VAT) has been a part of Thailand’s tax system since 1992, when it replaced the Business Tax (BT). Essentially, Valuable Added Tax is an indirect tax applied to the value added at each stage of...
by Ingo Siewert | Sep 24, 2024 | Corporate Tax
Withholding tax (WHT) is a form of pre-collected tax that is deducted from certain payments made in Phuket and the rest of Thailand. The purpose of WHT is to collect tax from individuals and businesses before they receive their full payment, ensuring that the...
by Ingo Siewert | Sep 24, 2024 | Personal Tax
Thailand Personal Income Tax (PIT) is a tax levied on individuals’ income derived from various sources, including employment, business, rental income, and interest. The tax rate is progressive, ranging from 5% to 35%, depending on the individual’s taxable income....
