New COVID-19 relief measures pertaining to tax obligations have been introduced in Thailand. The 2020 personal income tax return (P.N.D. 90 and P.N.D. 91) filing deadline and filing of payments via E-Filing has been extended to 30 June 2021 (originally 8 April 2021). The filing and payment deadline via paper remains the same, i.e., 31 March 2021. And the compulsory social security contribution rates of the employer and insured persons under employment are reduced for the two-month salary cycles from February 2021 to March 2021.
On 26 January 2021, the Thai Cabinet approved several relief measures to aid those who are affected by COVID-19 pandemic. These relief measures include extension of the personal income tax filing deadline1 and reduction of social security contribution rates2.
We highlight below the relief measures.
The Director-General of the Revenue Department’s comments3 indicate that the extension of the tax return deadline to three months will help increase liquidity for people in Thailand and inject approximately THB 10.60 billion into Thailand’s economy.
According to the Secretary-General of the Social Security Office,4 the additional relief measure in respect of social security should ease the financial burdens of 12.92 million insured persons and 485,000 employers. It is expected that this will provide approximately THB 23 billion of cash flow into the Thai economy.
The extension of the personal income tax return filing and tax payment deadlines are granted on submission of tax returns via the Revenue Department’s electronic filing system (E-Filing).
The 2020 personal income tax return (P.N.D. 90 and P.N.D. 91) filing deadline and filing of payments via E-Filing has been extended to 30 June 2021 (originally 8 April 2021). The filing and payment deadline via paper remains the same, i.e., 31 March 2021.
The compulsory social security contribution rates of the employer and insured persons under employment according to Section 33 (compulsory) and Section 39 (voluntary) of the Social Security Act B.E. 2533 (1990) are reduced for the two-month salary cycles from February 2021 to March 2021. The reduced rates will apply to the maximum salary of THB 15,000 on compulsory contributions. The summary of the reduction is as follows:
The ministerial regulation relevant to this issue has been announced.5
1 See (in Thai): news19_2564.pdf (rd.go.th).
3 See (in Thai): news19_2564.pdf (rd.go.th).
5 See (in Thai): T_0025.PDF (soc.go.th).
THB 1 = EUR 0.027
THB 1 = USD 0.033
THB 1 = GBP 0.0235
THB 1 = UD 0.042
The information contained in this newsletter was submitted by the KPMG International member firm in Thailand.
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