Thailand Offering Tax Incentives Offered to Qualifying SMEs Starting 1 Jan 2016

[stander]

Thailand has an estimated 2.8 million small and medium size entities (SMEs), with many having multiple financial accounts and which use with the smallest one used in order to understate tax liability. Effective as of 1 January, 2016, SMEs and other companies with revenues not in excess of 500 million THB for the 2015 fiscal year are being encouraged to formally enter the tax system by registering for a single financial account with the Revenue Department between 15 January and 15 March 2016. - See more at: http://www.pricesanond.com/news/tax-incentives-offered-to-qualifying-smes.php#sthash.3T2cqVNL.dpuf

[Pib]

"'Will you walk into my parlour?' said the Spider to the Fly."

[Misty]

The way I read this is that the tax breaks are only available to SMEs who are not already "formally in the tax system" . How about SMEs that have been following the law? Will similar tax breaks be made available, I wonder?

[Preman]

Pay no tax or surrender to the system and pay tax.

mmmmmm.

What incentive? Must be pretty good!

[Misty]

Some good news: our accountant thinks this program is open to all SMEs, even those that are already formally in the tax system. That seems fair.