What is the concept of Thai taxation system?
Thai taxation is outlined following common principle of Residence Rule and Source Rule. Accordingly, corporate entities and partnerships registered under Thai law and under Foreign Business Act are subject to taxation. Juristic Person Unit (i.e. corporate entities, partnerships, Joint Venture) are responsible to pay tax on net profit, gross income or remittance depending on types of assessable income.

Persons (i.e. resident or non-resident) are responsible to pay tax on net income derived from carrying on businesses in Thailand, being employed in Thailand, and possessing assets in Thailand
(i.e. dividend, interest, rental, etc).