SME tax exemption limit on the table

Published: 7 Jan 2013 at 13.00
Online news: News

A Finance Ministry proposal to raise the income tax exemption limit from 150,000 baht to 300,000 baht for small- and medium-enterprises with annual revenue below 50 million baht will be put to the cabinet meeting this week, finance permanent secretary Areepong Bhoocha-oom said on Monday.

Mr Areepong said the annual profit between 300,000 baht and one million baht will be subjected to 15% tax and annual profit exceeding one million to 20% tax under the proposal.

The exemption limit adjustment was proposed to the ministry by the Federation of Thai Industries, he said. It will be put on the agenda for Tuesday's cabinet meeting.

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saparod
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Discussion 1 : 07 Jan 2013 at 15.351
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What's the purpose?
Right now we have not even 5 million tax payers as the revenue department and law enforcement does not care to check, follow up and enforce laws.
We have hundreds of thousands of businesses without building permits, without registrations and they do NOT pay any tax! We also have millions of people earning much more than 150,000 per month but nobody ask for those people to pay tax...
So, what's the purpose of raising the limit when authorities do not care anyway?
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SME tax exemption limit on the table | Bangkok Post: business