TAX NEWS - JUNE 2010

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Thai Tax: Measures to ease the tax burden announced

Thai government has announced several measures to ease the tax burden on businesses affected by the recent political uprising in Bangkok and other provinces. The measures include:

(1) an extension of the deadline to file audited financial statements to 30 June 2021 for juristic entities (i.e. companies, branches and partnerships) with a head office located in Bangkok, Nontaburi, Samutprakarn or Pathumtani;

(2) allowing taxpayers to submit a request to the Minister of Finance to extend the deadline for filing a tax return and paying corporate income tax, value added tax, specific business tax and stamp duty (the Ministry of Finance will forward the request to the Revenue Department for further consideration);

(3) allowing corporate taxpayers a double deduction for wage-related expenses and expenses for repairing property damaged during the uprising; and

(4) allowing taxpayers to make three-month installment payments of land and building tax without interest and reducing and extending the filing obligations for 2011.
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