Corporate tax in Thailand
Running a Thai company means monthly withholding, VAT returns, social security, and annual corporate income tax, even when BOI holidays apply to later years. At Thai Visa Centre in Bangkok, we help foreign directors stay lawful on immigration while your accountant handles Revenue Department filings.
Tax non-compliance can block work permit renewals and bank services. Treat accounting as day-one operations, not year-end cleanup. Start with our Tax ID guide.
Corporate income tax on net profits of juristic persons under the Revenue Code.
On most goods and services when turnover exceeds registration threshold.
File within 150 days of accounting year end.
Revenue Department administers corporate and personal tax in Thailand.
Corporate tax system overview
Thailand taxes net profits of juristic persons, including limited companies, registered partnerships, and branches, under the Revenue Code.
| Tax | Filing frequency | Form |
|---|---|---|
| Corporate income tax (CIT) | Annual plus mid-year prepayment | PND.50, PND.51 |
| VAT | Monthly if registered | PP.30 |
| Withholding tax (WHT) | Monthly | PND.1, 2, 3, 53, 54 |
| Social security | Monthly | SSO forms |
| Specific business tax | As applicable | PND.40 |
Registration before first invoice
Tax ID (TIN)
Obtain at registration with the Revenue Department. Required before first invoice or hire.
VAT registration
Mandatory when annual turnover exceeds the current threshold. Verify with your accountant.
Social security employer registration
Register before hiring staff. Required for work permit employer verification.
Accounting system
Maintain double-entry books in Thai or bilingual format from day one.
Annual corporate income tax cycle
Accounting year ends
Close books and prepare financial statements.
Audit if required
Companies meeting size thresholds must appoint an auditor and file audited accounts.
File PND.50
Submit annual corporate tax return within 150 days of year end.
Pay balance CIT
Remit any remaining corporate income tax due after prepayments.
Mid-year prepayment PND.51: two instalments based on estimated annual profit, typically due at end of month 6 and month 11 of the accounting period.
Monthly compliance checklist
- Withhold tax on salaries, service fees, rent, and dividends
- File WHT returns and remit by 7th of following month, or 15th if e-filing
- File VAT PP.30 if registered
- Submit social security contributions
- Issue tax invoices correctly for VAT registered businesses
Penalties accumulate quickly on late WHT and VAT filings.
BOI and ROH reporting: BOI companies file annual progress reports and separate accounting for promoted vs non-promoted activities. ROH entities maintain service fee documentation and transfer pricing files. Tax holidays do not eliminate filing obligations.
Branch and foreign parent issues
Branch offices file corporate income tax on Thailand-source income. Remittance of branch profits abroad may attract additional withholding. Permanent establishment analysis affects foreign parents operating without branch registration.
Companies meeting size thresholds for assets, revenue, or employees must appoint an auditor and file audited accounts with DBD and the Revenue Department. Small companies may use simpler requirements. Confirm annually with your accountant.
Common compliance mistakes
- No VAT registration when turnover threshold exceeded.
- Paying foreign contractors without withholding tax deduction.
- Mixing personal and company expenses without documentation.
- Missing PND.51 prepayment, causing surprise year-end bill plus penalty.
- BOI company earning non-promoted revenue without separate tax tracking.
Frequently asked questions
General answers for foreign directors managing Thai company tax compliance. Confirm specific requirements with the Revenue Department.
Q:Can a foreign director file taxes without Thai language?
A:E-filing and accountants handle Thai forms. The director remains legally responsible for company tax compliance.
Q:What if the company makes a loss?
A:Losses may carry forward subject to Revenue Department rules. Prepayment may still apply based on estimated annual profit.
Q:Does immigration check tax compliance?
A:Work permit renewal increasingly verifies employer tax and social security status. Non-compliance can block renewals.
Q:When should we hire an accountant?
A:Before first hire, first invoice, or first foreign payment, whichever comes first. Retroactive bookkeeping costs more than starting correctly.
Q:Do BOI tax holidays eliminate filing obligations?
A:No. Tax holidays may reduce or zero payment but filing obligations remain. BOI companies also file separate progress reports.
Q:What is PND.51 prepayment?
A:Two mid-year instalments based on estimated annual profit, typically due at end of month 6 and month 11 of the accounting period.
Q:What VAT threshold applies?
A:VAT registration is mandatory when annual turnover exceeds the current threshold. Verify the current amount with the Revenue Department or your accountant.
Q:Where do I register for corporate tax?
A:Companies receive a corporate TIN through the Revenue Department, often linked automatically after DBD registration.