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Articles
Summary of three Tax Measures from the Ministry Of Finance to Remedy Impact from COVID-19
Due to the worsening economic situation in Thailand from the effects of the COVID-19 outbreak, the Ministry of Finance issued tax measures on 31 March 2020 in order to remedy tax burdens on taxpayers, as follows:
1.Extension of the tax filing and tax remittance period of withholding tax, VAT, special business tax and stamp duty
The Ministry Regulation – regarding the extension of the tax filing and tax remittance period for the taxpayer who has a duty to remit withholding tax, corporate income tax, VAT, special business tax and stamp duty) – has extended the tax filing and tax remittance period for the entrepreneur that closes its place of business under the Government order; and the entrepreneur whose place of business is located in a shutdown/closure area, as per the following details:
Detail | Current Period | Extension Period | |
---|---|---|---|
Paper Submission | Internet Submission | ||
1. Withholding tax (P.N.D. 1, 2 , 3, 53, 54) | |||
· March 2563 | 7 April 2563 | 15 April 2563 | 15 May 2563 |
· April 2563 | 7 May 2563 | 15 May 2563 | 15 May 2563 |
2. VAT (P.P. 30, 36) and special business tax* (P.T. 40) | |||
· March 2020 | 15 April 2020 | 23 April 2020 | 23 May 2020 |
· April 2020 | 15 May 2020 | 23 May 2020 | 23 May 2020 |
3. Stamp duty (Aor. Sor. 4, 4 Gor, 4 Kor) | 1 April – 15 May 2020 | 15 May 2020 |
* Not including special business tax for sale of an immovable property in a commercial or profitable manner in accordance with Section 91/2 (6) of the Revenue Code.
1. Extension of the tax filing and tax payment period of corporate income tax
The Ministry Regulation – regarding the extension of the tax filing and tax payment period of corporate income tax in accordance with the Revenue Code (No. 2) – has extended the tax filing, tax payment and report submission period to a company or juristic partnership but does not include a securities company registered on the Stock Exchange of Thailand, as follows:
Corporate income tax (P.N.D. 50, 51 , 54) | Current Period | Extension Period* |
---|---|---|
· Submission under Section 68, 69 and 71 Ter Paragraph 1 | April, May, June, July and August 2020 | 31 August 2020 |
* In case the due date of internet filing is between 24 – 31 August 2020, the extension shall be extended for eight days from such due date. | ||
· Submission under Section 67 Bis | April, May, June, July, August and September 2563 | 30 September 2563 |
* In case the due date of internet filing is between 23 – 30 September 2020, the extension shall be extended for eight days from such due date. |
1. Extension of the tax filing and tax payment period of personal income tax
The Ministry Regulation – regarding the extension of the tax filing and tax payment period of personal income tax for the assessable income of the tax year 2020 (B.E. 2563) (No. 2) – has extended the tax filing, tax payment and report submission via internet period to an individual person, as follows:
Personal income tax (P.N.D. 90, 91, 95) | Current Period | Extension Period | |
---|---|---|---|
Paper Submission | Internet Submission | ||
· Submission under Section 56, 57 Quarter | 31 March 2020 | 8 April 2020 | 31 August 2020 |
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