Share your needs with us, get contacted by law firms.
Free. Takes 2 min.
Browse our 2 legal questions about Tax in Thailand and the lawyer answers, or ask your own questions for free.
The tax law in Rayong, as with the rest of Thailand, revolves around various types of taxes including income tax, corporate tax, Value Added Tax (VAT), specific business tax, and stamp duty. Thailand uses a self-assessment system for both individual and corporate entities. Tax evasion is heavily penalized. The Thailand Revenue Department is the government body responsible for tax collection and assurance of compliance with tax law.
An experienced tax lawyer is essential when dealing with complex issues related to tax laws. Situations where professional legal help is necessary include filing income tax returns, starting or closing a business, managing complex business transactions, dealing with estate planning, buying or selling real estate, and handling disputes with the Revenue Department. A tax lawyer can help ensure compliance with local tax laws and minimize tax liabilities.
In Rayong, similar to the rest of Thailand, personal income tax rates vary from 5 to 35 percent depending on the taxable income, while corporate tax is a flat rate of 20 percent. Companies registered under the BOI (Board of Investment) can enjoy certain tax privileges. The standard VAT rate sits at 7 percent, though necessities may have lower rates or be exempt. Property tax rates vary depending on the type of property and its use. The Thailand Revenue Department in Rayong handles tax collection and compliance checks.
1. Do foreigners pay tax in Thailand?Yes, if a foreigner has earned income in Thailand, they need to pay tax. Tax is calculated on a progressive scale - the more income, the higher the tax rate.
2. What qualifies as taxable income?Income earned from employment, business profit, interest, dividends, rents, capital gains from asset sales, prizes, and other sources are considered taxable.
3. Are there any tax exemptions for businesses in Rayong?Yes, businesses registered under the Board of Investment (BOI) can enjoy certain tax benefits and incentives.
4. What is the penalty for tax evasion?The penalty for tax evasion can be severe, including hefty fines and potential jail time.
5. Which body handles tax affairs in Rayong?The Thailand Revenue Department handles all tax affairs in Rayong and throughout Thailand.
The Thailand Revenue Department offers multiple resources on their website including tax guides, laws and regulations, and downloadable tax forms. Other relevant organisations include the Ministry of Finance, the Board of Investment (BOI), and the Federation of Accounting Professions which issues guidelines and standards for accounting and auditing practices.
If you need legal assistance related to tax in Rayong, Thailand, it's recommended to find and consult with a reputable tax lawyer familiar with local tax laws. Consider getting referrals, looking at online directories, or contacting the local bar association. Prepare all relevant financial documents for your meeting and clearly communicate your needs and concerns to your lawyer.
