Thailand corporate tax rate reduction and flood relief

Asia-Pacific Tax Newsalert

Thailand has reduced the 30% corporate income tax rate to 23% for tax years beginning on or after January 1, 2012 and to 20% for the subsequent two tax years. In addition, Thailand’s unprecedented “100 year flood” in 2011 caused major damage to hundreds of factories, resulting in significant costs. Many companies will need to consider the Thai tax rules on insurance recoveries.

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