Legal Requirement
3. LEGAL & POLITICAL
Legal Requirement in a Host Country.
THAILAND
Thailand officially the Kingdom of Thailand formerly known as Siam is a country located at the centre of the Indochina peninsula in Southeast Asia. It is bordered to the north by Burma and Laos, to the east by Laos and Cambodia, to the south by the Gulf of Thailand and Malaysia, and to the west by the Andaman Sea and the southern extremity of Burma. Its maritime boundaries include Vietnam in the Gulf of Thailand to the southeast, and Indonesia and India in the Andaman Sea to the southwest.
* TAXATION IN THE THAILAND all taxes imposed on total income or on elements of income including taxes on gains from the alienation of movable or immovable property, taxes on the total amount of wages or salaries paid by enterprises
Personal income tax An individual is regarded as a tax resident if he/she resides in Thailand at one or more time for an aggregate period of 180 days or more in any tax year.Corporate income taxCorporate Income Tax (CIT) is a direct tax levied on a juristic company or partnership carrying on business in Thailand or not carrying on business in Thailand but deriving certain types of income from Thailand. | | | |
Value added tax
Value Added Tax (VAT) is an indirect tax imposed on the consumption of goods and services. VAT is imposed on the value added of each stage of production and distribution of goods or services.
Specific business tax Specific Business Tax (SBT) is another kind of indirect tax introduced in 1992 to replace Business Tax. Certain businesses that are excluded from VAT will instead be subject to SBT.
Petroleum income tax
Petroleum Income Tax (PT) is a direct tax, levied annually (for each accounting period of 12 months duration) on net profit of a “petroleum taxpayer”, who is carrying out the business of petroleum exploration and production. It is also levied on the disposal of profits outside of Thailand. The rules and regulations
Legal Requirement in a Host Country.
THAILAND
Thailand officially the Kingdom of Thailand formerly known as Siam is a country located at the centre of the Indochina peninsula in Southeast Asia. It is bordered to the north by Burma and Laos, to the east by Laos and Cambodia, to the south by the Gulf of Thailand and Malaysia, and to the west by the Andaman Sea and the southern extremity of Burma. Its maritime boundaries include Vietnam in the Gulf of Thailand to the southeast, and Indonesia and India in the Andaman Sea to the southwest.
* TAXATION IN THE THAILAND all taxes imposed on total income or on elements of income including taxes on gains from the alienation of movable or immovable property, taxes on the total amount of wages or salaries paid by enterprises
Personal income tax An individual is regarded as a tax resident if he/she resides in Thailand at one or more time for an aggregate period of 180 days or more in any tax year.Corporate income taxCorporate Income Tax (CIT) is a direct tax levied on a juristic company or partnership carrying on business in Thailand or not carrying on business in Thailand but deriving certain types of income from Thailand. | | | |
Value added tax
Value Added Tax (VAT) is an indirect tax imposed on the consumption of goods and services. VAT is imposed on the value added of each stage of production and distribution of goods or services.
Specific business tax Specific Business Tax (SBT) is another kind of indirect tax introduced in 1992 to replace Business Tax. Certain businesses that are excluded from VAT will instead be subject to SBT.
Petroleum income tax
Petroleum Income Tax (PT) is a direct tax, levied annually (for each accounting period of 12 months duration) on net profit of a “petroleum taxpayer”, who is carrying out the business of petroleum exploration and production. It is also levied on the disposal of profits outside of Thailand. The rules and regulations