Moreover, using big data technology to analyse tax payments should discourage owners and family-owned operators from calling for lower personal income tax payments, the source said. There are 400,000 corporate taxpayers, of which 300,000 are small and medium-sized enterprises (SMEs) with annual revenue of up to 30 million baht. Under the scheme, registered SMEs with annual sales of up to 500 million baht are exempt from backdated tax scrutiny. Those with registered capital not exceeding 5 million baht and revenue not exceeding 30 million baht for the 2015 accounting year had no tax burden for the 2016 accounting year. SMEs are exempt from corporate tax for net profits of up to 300,000 baht, but they pay 15% tax for net profits of 300,001 to 3 million baht and 20% for net profits of more than 3 million baht.

Source: Bangkok Post December 05, 2017 00:22 UTC