In Thailand, Thai tax law requires all companies or juristic partnerships to apply corporate income tax. Corporate Income Tax (CIT) is calculated on net profits from their worldwide activities. Those established under a foreign law carrying on business in Thailand are subject to CIT only on the net profits arising from their business activities in Thailand.
Click here for more information and how to calculate the CIT in Thailand.
The company must file an annual CIT return within 150 days after the end of the accounting year. The company must also file and pay a half-year corporate tax return within 2 months.
Like tax paid on a modified-year return, Withholding tax deducted from income during the year is allowed as a tax credit against the tax payable on the annual tax return.
The company can request a refund for overpaid tax within 3 years, and typically, the Revenue Department conducts a tax audit before approving the refund.
Furthermore, the Revenue Department can issue a summons to conduct a tax audit within two to five years after the return is filed. They may also extend this period if there is sufficient documentary evidence or suspicion of tax evasion. Additionally, the Thai Revenue Department has the authority to extend the assessment period to 10 years from the date the tax was due.
Click here for more detail on CIT rate in Thailand.
For more detail , please visit website of the Thai Revenue Department
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