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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