Income tax rate reduction
The income tax rate is reduced to 23 %, a new rule applies to companies whose accounting business period ends on December 31, 2012 or later. Of 1 January 2013, the rate reduces to 20%. The maximum tax rate till 2012 was 30%.
Progressive tax rate for small and medium-sized enterprises remains without changes as for the taxation of income up to 150 million Baht (0%) and of income up to 1 million Baht (15%). Reminding that the company is considered as small or medium-sized business, if it meets the following requirements
1. Authorized capital is not more than 5,000,000 Baht;
2. Income for the accounting period is less than 30 million Baht (additional requirement is due to innovation).