Corporate 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.
The corporate income tax rate in Thailand is 20% on net profit however, the rates vary depending on types of taxpayers. For example, there is no corporate income tax for a small company under 300,000 Baht of profit, and 15% tax from 300,000 baht not exceeding 3 millions baht. A small company refers to any company with paid-up capital less than 5 million baht at the end of each accounting period
Once a year when your accounts are audited, filing your Corporate Income Tax to the Revenue Department is an obligation. A certain number of rules have to be respected to deduct all your expenses and therefore lower your Corporate Income Tax liability.