Thailand keeps friendliness spot | Bangkok Post: business

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Thailand keeps friendliness spot

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Thailand ranks 18th out of 189 countries for the ease of doing business, unchanged from last year, as measured by lower tax costs for companies, says the World Bank. 

"Social security contributions paid by the employer decreased from 5% in 2011 to 3% applicable in January to June 2012 and 4% applicable in July to December last year," the bank said in its report entitled "Doing Business 2014: Understanding Regulations for Small and Medium-Size Enterprises".

Reducing the tax rate in terms of social security contribution helps local entrepreneurs, as the move lets them shoulder less of the tax burden.

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