Corporate Income Tax on the Repatriation of Profits from Thailand

     Companies or partnerships, acting as legal entities that repatriate profit or other funds accrued from profits or deemed as profits from Thailand, are obligated to pay income tax by deducting the tax from the total amount repatriated. Furthermore, the repatriation of profits also includes:

1. The distribution of profits or any other funds, withheld from profits or deemed as profits, from profit and loss accounts or any other accounts to settle debts, deduct or cancel debts, or to be recorded as a liability in the account of any individual abroad.
2. In instances where the aforementioned situation in (1) is not evidently stated, but there has been a request to purchase and transfer foreign currencies, which are profits or other types of funds withheld from profits or deemed as profits, to a foreign country.
3. Other actions that result in the same consequences as stated in (1) or (2).

     Tax rate and calculation: The method of paying this tax on profit repatriation abroad involves deduction from the amount being repatriated, at a rate of 10 percent.

     Filing of tax returns and tax payment: Companies or partnerships that repatriate profits abroad must file tax returns and pay tax within 7 days from the end of the month in which the profits were repatriated. The tax return form to be used for filing is Por Ngor Dor 54 (filed each time there is a repatriation of profits from Thailand; if the profits are kept within Thailand, this specific tax does not apply).

Data updated on November 14, 2020

Source: The Revenue Department, 90 Phaholyothin 7, Phayathai, Phayathai, Bangkok 10400

Tel. +66 2272 8000

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