The banking sector experienced mixed results in 2017. Although bank loans and asset quality benefitted from the country’s ongoing economic recovery, with operating profits rising as a result, high provisioning costs and preparations for the new accounting standards that take effect in 2020 saw net profits decline for many larger commercial banks....
The banking sector experienced mixed results in 2017. Although bank loans and asset quality benefitted from the country’s ongoing economic recovery – with operating profits rising as a result – high provisioning costs and preparations for the new accounting standards that take effect in 2019 saw net profits decline for many larger commercial banks. The sector is resilient, well capitalised and...
Macroeconomic recovery in Thailand gained momentum in 2017, with GDP growth hitting a five-year high on the back of a positive performance in...
The eight major taxes imposed in Thailand are: Corporate income tax: Thai incorporated entities are generally subject to tax on their worldwide income. Foreign incorporated companies are subject to tax on income derived from carrying on business in Thailand or on certain categories of income paid from Thailand. The standard corporate tax rate...
The main body of tax law in Thailand is the Revenue Code. Taxes listed under the Revenue Code are primarily collected under a self-assessment system of taxation, whereby taxpayers take responsibility for correctly filing their tax returns and paying taxes.
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