The Thai Cabinet in late March 2019 approved three Royal Decrees (as proposed by the Ministry of Finance) cancelling tax incentives previously granted by the Thai Revenue Department under the:
The incentives under these regimes will no longer be available effective 1 June 2019 as corporate income tax incentives, and effective 1 January 2020 as individual income tax incentives. In effect, the previously announced grandfathering of tax incentives under these three regimes will not be allowed.
Thus, assuming that the Royal Decrees implementing these changes are finalized and issued, the following benefits will no longer be available under the three incentive regimes:
All current tax benefits under the regional operating headquarters (2002) regime will also be cancelled; however, there is some uncertainty about the timing.
Read a March 2019 report prepared by the KPMG member firm in Thailand
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