Thai LawTaxationPrincipal taxesThailand taxes are imposed both at the national and local levels. The principal taxes in Thailand include direct taxes (personal income tax, corporate income tax, petroleum income tax) and indirect taxes (value added tax, specific business tax, customs duty, excise tax, stamp duty, property tax). Tax collections are administered by the Ministry of Finance through three departments: the Customs Department, which is responsible for import and export duties; the Revenue Department, which attends to the collection of income tax, VAT, specific business tax, and stamp duty; and the Excise Department, which collects excise taxes levied on certain specific commodities. Local governing bodies deal with the collection of property and municipal taxes. Source of tax lawThe Revenue Code is the principal tax law in Thailand. The Code governs personal income tax, corporate income tax, value added tax, specific business tax, and stamp duty. The Petroleum Income Tax Act governs taxation of oil and gas concessionaires, and the Customs Act governs tariff on imports and exports. Other laws govern excise tax and property tax. |