Thailand Tax Updates - 24 January 2017

Thailand Tax Updates - 24 January 2017

Personal Income Tax Season for 2016



Personal Income Tax Season for 2016

It’s time to start preparing your 2016 personal income tax filing. There are things to consider and new items you should be aware of for your 2016 personal income tax filing. In 2016, in order to promote and encourage domestic spending, the Government issued a number of notifications to provide special tax allowances, they include:

  • Food, dining, accommodation and travelling with a package tour in Thailand during the Songkran festival, 9 to 17 April 2016 for actual amount paid (including VAT) but not exceeding THB 15,000.
  • Purchases of any OTOP products made during the period of 1 to 31 August 2016 for actual amount paid (including VAT) not exceeding THB 15,000. The products must be registered by the Community Development Department and sold by a VAT registrant. 
  • Accommodation and/or tour package in Thailand during 1 January 2016 to 31 December 2016 for actual amount paid (including VAT) but not exceeding THB 15,000 during January to December 2016 and additional allowance up to THB15,000 (including VAT) for spending during the month of December 2016. Therefore the total allowance cannot exceed THB 30,000.
  • Goods and services, excluding alcoholic drinks, tobacco, fuel for vehicle, automobile, motorcycle, ship and accommodation, in Thailand during 14 to 31 December 2016 for actual amount paid (including VAT) but not exceeding THB 15,000.It is important to have official tax invoices for proof of purchases and spending in order to take advantage of these special tax allowances since the tax officers will request this. With the above special tax allowances granted for 2016, you may be entitled to a tax refund. You should ensure that you have completed a separate section on the tax refund for tax refund request when filing tax return, otherwise you will need to submit a separate tax refund application. 

For 2016, the Revenue Department is encouraging Thai taxpayers to request that the tax refund be transferred directly into your bank account held in Thailand since this will expedite the process. To do so, you need to register for “PromptPay” at specific banks in Thailand with your 13-digit Thai tax ID number.    

The right tax form must be used. If you earn exclusive employment income, use 2559 PND.91 (2016 PND.91). If you earn other income including employment income, use form 2559 PND.90 (2016 PND.90). For employment income earned from a regional headquarter, international headquarter or international trading company in Thailand which provides reduced tax rates, use form 2559 PND.95 (2016 PND.95).  Since the Revenue Department has the authority to conduct a tax audit for a period of 2 years (which may be extended to a period of 5 years from the date of filing the tax return in certain instances), we recommend that a copy of your tax return and all supporting documentation should be retained for this period.

There are two ways to file your tax return and it determines the due date. Paper-based manual filing is due by no later than Friday, 31 March 2017 whilst electronic filing is due no later than Monday, 10 April 2017.

Get ahead and start gathering all your data and supporting documents for a smooth tax season.

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