On 21 December 2011, the Thai Government announced in Royal Decree (No. 530) B.E. 2554 the following reductions to juristic income taxes:

1.     23% of net profits of the juristic person for the first accounting period which begins on or after 1 January 2012;

2.     20 % of the net profits of the juristic person for the following two accounting periods which begins on or after 1 January 2013.

Further tax benefits apply to small and medium size juristic entities with a paid-up capital for the accounting period not exceeding Baht 5 million and income from the sale of goods and rendering of services for the accounting period not exceeding Baht 30 million as follows:

1.     An exemption from income tax the portion of net profit not exceeding Baht 150,000. 

2.     The net profit exceeding Baht 150,000 but not exceeding Baht 1 million will be subject to 15% for the accounting year which begins on or after l January 2012;

3.     The net profit exceeding Baht 1 million shall be subject to juristic income tax at the following rates:

a.     23% of the net profit for one accounting period which begins on or after 1 January 2012; and

b.     20% of the net profit for the following the accounting periods which begin on or after 1 January 2013.