Corporate tax—also known as “corporate income tax”—is levied by the government on the net profit of business entities operating or generating income in Thailand. Tax rates vary depending on the type and size of the business. An understanding of corporate tax can help entrepreneurs plan their finances and tax expenses.

In this article, we explain corporate tax, corporate tax rates, and how to calculate and file corporate taxes. We also introduce solutions for managing corporate taxes that facilitate efficient reporting and tax administration. This can allow businesses to operate transparently and in compliance with the law.

What’s in this article?

• What is corporate tax?
  
• Corporate tax rates in Thailand
  
• How to calculate corporate income tax
  
• How to file corporate income tax
  
• How to choose a corporate tax management solution
  
• How Stripe Tax can help
  

What is corporate tax?

Corporate tax—or corporate income tax—is levied on the net profit of business operations from entities that have corporate status under the Revenue Code. These include limited companies, limited partnerships, public companies, and registered ordinary partnerships. Corporate tax serves as a significant source of government revenue, which is used to develop the country in various areas, such as infrastructure, education, and social welfare.

Proper corporate tax management directly impacts a business’s financial liquidity, helping to manage cash flow, forecast tax liabilities, and comply with tax laws. Knowledge of corporate taxes can also enhance readiness for government audits or fundraising, reduce the risk of fines, and promote stable long-term business growth.

Corporate tax rates in Thailand

Corporate tax rates in Thailand depend on the type of legal entity and the size of the business.

General tax rates

A flat tax rate of 20% on net profit applies to all companies or partnerships that are not small or medium-sized enterprises (SMEs), regardless of their net profit.

Tax rates for SMEs

Companies with paid-up registered capital of no more than ฿5 million and annual total revenue of no more than ฿30 million can use a progressive tax rate. They can use it to calculate corporate income tax according to certain business criteria.

Note: Each portion of the profit is calculated based on the net profit bracket it falls into. For example, if the net profit is ฿4 million, the first ฿3 million can be taxed at 15%. Any amount exceeding ฿3 million will be taxed at 20%. In addition, companies granted Board of Investment (BOI) incentives might be eligible for corporate income tax exemption, subject to the specific terms of those benefits.

Tax rates for multinational corporations

The Global Minimum Tax requires that multinational corporations with annual revenues of ฿30 billion or more must have an effective tax rate of at least 15%. This reduces the shift of profits to countries with lower taxes and creates tax fairness. Thailand enacted the Royal Decree on Additional Taxes, B.E. 2567 (2024), which was applied in the 2025 fiscal year.

How to calculate corporate income tax

Corporate income tax can be calculated as follows:

Corporate Income Tax = Taxable Net Profit x Corporate Tax Rate

The taxable net profit can be calculated as follows:

Taxable Net Profit = Income – Legally Deductible Expenses

Example calculation of corporate income tax

Company S

• Taxable net profit
  Income – Legally Deductible Expenses
  ฿5,000,000 – ฿3,500,000 = ฿1,500,000

• Corporate income tax
  Taxable Net Profit x Corporate Tax Rate
  ฿1,500,000 x 20% = ฿300,000

Therefore, Company S must pay corporate income tax in the amount of ฿300,000.

Example calculation of corporate income tax for SMEs

Company T

• Taxable net profit for SME
  

Income – Legally Deductible Expenses
฿4,000,000 – ฿2,000,000 = ฿2,000,000

• Taxable net profit
  Taxable Net Profit for SMEs – Tax-Free Threshold for SME
  ฿2,000,000 – ฿300,000 = ฿1,700,000
  
• SME corporate income tax
  Taxable Net Profit x SME Tax Rate
  ฿1,700,000 x 15% = ฿255,000
  

Therefore, Company T—which is classified as an SME—must pay corporate income tax of ฿255,000.

How to file corporate income tax

The procedure for filing corporate income tax in Thailand involves the following steps.

Prepare accounting data and documents

Collect financial information for the accounting period, including the following:

• Financial statements that have been audited and signed by a Certified Public Accountant (CPA), including an income statement, balance sheet, cash flow statement, and statement of changes in equity
  
• Tax adjustments, including taxable net profit (or carried-forward accumulated loss), asset list, tax calculation documents, depreciation, disallowed expenses (if any), lease or loan agreements, etc.
  
• Withholding tax certificates, such as Forms P.N.D. 1, P.N.D. 1A, P.N.D. 3, and P.N.D. 53 (if any)
  
• Financial statement submission form S.B.Ch. 3 and shareholder register form B.O.J. 5
  

Calculate net profit and corporate income tax

Calculate corporate income tax according to the rates set by law, such as 20% for general businesses or special rates for SMEs. In addition, account for the following:

• All relevant taxes
  
• Adjustments to taxable profit by adding or deducting items as prescribed by law
  
• Tax benefits, such as benefits from BOI, research and development (R&D) and innovation benefits, Special Economic Zones (SEZs), benefits from software development, etc.
  

Complete the tax declaration form

Complete Form P.N.D. 50 in full for the fiscal year and Form P.N.D. 51 for the first half of the year, if applicable. Legal entities that are required to file Form P.N.D. 51—even if there is no tax to pay—include the following:

• Limited companies
  
• Public limited companies
  
• Limited partnerships
  
• Foreign legal entities that conduct business or earn income from Thailand
  
• Joint ventures
  

Businesses exempt from submitting Form P.N.D. 51 include the following:

• Foundations or associations that do not earn income from commercial activities
  
• Legal entities that are exempt from income tax
  
• Businesses that have ceased operations and have no income in that accounting period
  

Note: In some cases, even if there is a loss, it is possible to file Form P.N.D. 51 as a zero. The tax paid from P.N.D. 51 can be used as a credit when filing P.N.D. 50 at the end of the year.

File the form and pay taxes

Businesses can file annual corporate income tax with the Revenue Department based on estimated profits in the following ways:

• Submit Form P.N.D. 51 (if applicable) to the Revenue Department within two months from the end of the first six months of the accounting period. For example, for the accounting period January 1–December 31, it should be submitted by August.
  
• Submit Form P.N.D. 50 within 150 days from the end of the accounting period. For example, for the accounting period ending December 31, it should be submitted by May of the following year.
  

Submit online

Submit online through the Revenue Department’s e-filing system by registering for an account. Check detailed information about submitting Form P.N.D. 50 online.

Submit to the Revenue Department

Submit the paper form at the local Revenue Department office where the company is located. Pay the tax within the deadline through the Revenue Department’s website or payment counters or at banks participating in the corporate tax program.

Pay taxes

• Pay directly at the regional or branch tax office where the tax return was filed.
  
• Pay at designated bank counters after submitting the tax return to the Revenue Department and receiving a tax notice. Pay directly at the bank.
  
• Make payments via electronic channels, such as internet banking, mobile banking, PromptPay, or direct debit. Specify the taxpayer information and account number or statement as required by the Revenue Department before making the payment.
  

Note: Late filing or payment can result in additional charges and penalties.

Preserve evidence and documents

Keep copies of tax forms, accounting reports, submission receipts, tax invoices, and related payment evidence for no less than five years. These can be stored in both paper and electronic formats to accommodate future audits by the Revenue Department.

How to choose a corporate tax management solution

There are various factors to consider when choosing a solution for corporate tax management.

Reports tax information accurately

A good tax solution can help ensure that document preparation and tax reporting are accurate and precise. Integration with systems such as Stripe Tax and Stripe Checkout enables the automatic calculation and collection of taxes for cross-border transactions. This makes it convenient and quick to gather and report tax information through electronic systems. This creates transparency and reduces the occurrence of disputes.

Connects to payment systems

Corporate tax management solutions should support integration with payment systems, such as Stripe Payments. This allows revenue from digital payment systems to be recorded accurately in real time. It also facilitates convenient and fast tax data collection, creates transparency, helps reduce processing time, and minimizes errors that can occur from duplicate transaction entries.

Works with accounting systems

The ability to connect directly with accounting or enterprise resource planning (ERP) systems to automatically generate tax reports is an important aspect of corporate tax management. Tools that allow real-time data syncing with accounting systems—such as the Stripe API—help reduce discrepancies and provide overall revenue and transaction details for tax filing through the Stripe Dashboard and Stripe Reports This can make tax management easier and allow businesses to focus more on growing their operations.

Supports retrospective audits

This includes the ability to audit historical data, including login history and data modifications or updates. It’s important to use a system that can store and audit data, automatically retrieve payment and receipt information, and generate detailed and complete tax and duty reports in real time. A high-quality tax system helps a business grow while preparing it for fundraising activities and inspections by government agencies.

Provides safety and reliability

The system should provide usage logs, control data access with passwords, and secure data with encryption and access control. It should be stable and continuously available and be able to verify the integrity of file data. This can help businesses review information retrospectively in case of disputes.

Shows expertise in taxation

A good tax solution should involve knowledge and expertise in the Thai tax system, including an understanding of the general 20% tax rate and the progressive corporate tax system for SMEs. It should also incorporate various incentives—such as BOI, R&D, and innovation programs—or SEZs. The system should also automatically update legal and tax changes, while accurately assessing the risk of overpayment or underpayment of taxes.

How Stripe Tax can help

Stripe Tax reduces the complexity of tax compliance so you can focus on growing your business. Start collecting taxes globally by adding a single line of code to your existing integration, clicking a button in the Dashboard, or using our powerful API.

Stripe Tax helps you monitor your obligations and alerts you when you exceed a sales tax registration threshold based on your Stripe transactions. It can also register to collect tax on your behalf in the US and manage filings through trusted partners. Stripe Tax automatically calculates and collects sales tax, VAT, and GST on:

• Digital goods and services in all US states and over 100 countries
  
• Physical goods in all US states and 42 countries
  

Stripe Tax can help you:

• Understand where to register and collect taxes: See where you need to collect taxes based on your Stripe transactions. After you register, switch on tax collection in a new state or country in seconds. You can start collecting taxes by adding one line of code to your existing Stripe integration, or add tax collection with the click of a button in the Stripe Dashboard.

• Register to pay tax: If you need to register for a sales tax in the US, let Stripe manage your tax registrations. You’ll benefit from a simplified process that prefills application details—saving you time and simplifying compliance with local regulations. If you need help registering outside of the US, Stripe partners with Taxually to help you register with local tax authorities.

• Automatically collect tax: Stripe Tax calculates and collects the right amount of tax owed, no matter what or where you sell. It supports hundreds of products and services and is up-to-date on tax rules and rate changes.

• Simplify filing: Stripe Tax seamlessly integrates with filing partners, so your global filings are accurate and timely. Let our partners manage your filings so you can focus on growing your business.

Learn more about Stripe Tax, or get started today.