Tag: Money, tax and compliance

Thailand has no small-company audit exemption. Every Thai company limited needs a statutory audit by a Thailand-licensed CPA every year, whatever its turnover, headcount or activity. A Singapore owner used to the ACRA exemption will not expect this.

The Singapore-Thailand tax treaty caps Thai withholding at 10 percent on dividends, 10 or 15 percent on interest depending on who receives it, and 5, 8 or 10 percent on royalties depending on what is being licensed.1

Corporate income tax is 20 percent. A qualifying small company pays 0, 15 and 20 percent across three bands, under a decree from 2015 that the Revenue Department's own website has not caught up with.

This chapter is for a narrow audience: software, SaaS and e-commerce sellers who bill Thai customers without opening a Thai company. If you already have, or plan to have, a Thai entity, the rest of this guide covers you and you can skip ahead.