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Thailand to Impose 15% Corporate Tax on Foreign Companies Starting 2025

23 Jan 2025

Thailand to Impose 15% Corporate Tax on Foreign Companies Starting 2025

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According to Thai media reports, Deputy Finance Minister Julapan has disclosed details about the "Additional Tax Law" and the "National Targeted Industries Competitiveness Enhancement Law" drafts. Under the global minimum tax standard established by the OECD Council, Thailand will implement a minimum corporate tax of 15% on multinational corporations to prevent excessive tax competition.
The government is expediting internal preparations, with the new law mandating that these corporations pay a minimum 15% corporate income tax. A portion of the collected taxes will be allocated to initiatives aimed at improving production structures for multinational companies, supporting the green economy, and reducing PM 2.5 particulate pollution.
Thailand aims to finalize the legislation within this year to align with the 2025 tax year, covering the period from January to December. Thailand will be among the first 20 countries to adopt this legal mechanism, with the law set to take effect on January 1, 2025, and tax reporting scheduled for 2026.
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