In this article, we take a look at Thailand’s tax regime from a Pillar Two perspective, with a particular focus on their tax incentives.
Corporate Income Tax Rates
The Income Tax Rates Schedule to the Revenue Code provides that the standard rate of corporate income tax is 20%. However, Thailand offers a number of reduced rates under the Investment Promotion Act.
Therefore, whilst the main corporate income tax rate is set at a medium level internationally, entities that benefit from a 15% (or lower) rate could easily see a GloBE ETR of below 15%, particularly if financial accounting/GloBE income differs significantly from taxable income (see below).
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