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Summary Of The Withholding Tax Reduction According To The Ministerial Regulation No. 361 B.E. 2563 (2020)

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Summary Of The Withholding Tax Reduction According To The Ministerial Regulation No. 361 B.E. 2563 (2020)

In the case of payment of income to a juristic company, partnership or individual, not including foundations or associations announced in the Government Gazette as public charitable organizations, withholding tax shall be reduced as follows for the income stated in the table below:

  • Reduced to 1.5% between 1 April 2020 – 30 September 2020; and
  • Reduced to 2% between 1 October 2020 – 31 December 2021 for the following income
Type of income under the withholding tax reduction measure Individual person Juristic person
Section 40 (2) of the Thai Revenue Code (“RC”). – X
Section 40 (3) of the RC – specifically for goodwill, royalties or other rights. – X
Section 40 (6) (liberal profession) and Section 40 (7) (contract of work whereby the contractor provides essential materials besides tools) of the RC X X
Section 40 (8) of the RC – specifically for hire of work, remuneration of a prize, discount or any other benefits related to a sales promotion and other services but not including income from public entertainment, advertisement fees, premiums for non-life insurance, transportation, hotel service, restaurant service and premium for life insurance. X X

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