Expat Counsel
TAXES IN THAILAND Part X: Credits _ part one
- Published: 19/02/2012 at 03:14 AM
- Newspaper section: Spectrum
Last week, we calculated the tax for a fictional taxpayer. But that's not the end of the story. There may be ways to reduce the amount of tax due even after the basic amount is calculated, by subtracting items after the total amount of tax due is calculated. Items subtracted are called credits because the taxpayer is being credited because he or she has already paid them.
ILLUSTRATION: NATTAYA SRISAWANG
The first tax credit we'll discuss is for dividends. If you reside in Thailand and receive dividends from a Thai company or distributions from a Thai partnership, you will get a credit of three-sevenths of this amount. This comes from Section 47 bis of the Revenue Code.
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About the author
- Writer: James Finch & Nilobon Tangprasit
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