Thailand: Withholding tax rate reduction, tax relief (COVID-19)
Thailand: Withholding tax rate reduction, tax relief
The Ministry of Finance on 27 March 2020 provided guidelines concerning withholding tax relief in response to the coronavirus (COVID-19) pandemic.
The relief measures provide:
- The rate of withholding tax on payments of certain taxable income made from 1 April 2020 to 30 September 2020 will be reduced from 3% to 1.5%.
- The rate of withholding tax on payments of certain taxable income made from 1 October 2020 to 31 December 2021 will be reduced from 3% to 2% if the payment is made via the “e-Withholding Tax system.”
The reduced rates will not apply with regard to payments made to charitable foundations and associations.
Read a March 2020 report prepared by the KPMG member firm in Thailand
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