ey-global-tax-policy-outlook-for-2015
ey-global-tax-policy-outlook-for-2015
ey-global-tax-policy-outlook-for-2015
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Thailand<br />
Tax <strong>policy</strong> and<br />
controversy<br />
Yupa Wichitkraisorn<br />
yupa.wichitkraisorn@th.<strong>ey</strong>.com<br />
+66 2264 9090 ext 55003<br />
1<br />
| Tax rates (2014–15)<br />
2014 <strong>2015</strong> Percentage<br />
change<br />
Top corporate income<br />
<strong>tax</strong> (CIT) rate (national<br />
and local average, if<br />
applicable)<br />
20% 20% 1 —<br />
Top individual income<br />
<strong>tax</strong> rate (national<br />
and local average, if<br />
applicable)<br />
35% 35% 2 —<br />
Standard value-added<br />
<strong>tax</strong> (VAT) rate<br />
7% 7% 3 —<br />
Stay up to date with<br />
developments in Thailand<br />
by accessing EY's <strong>global</strong><br />
<strong>tax</strong> alert library at<br />
www.<strong>ey</strong>.com/<strong>tax</strong>alerts.<br />
EY k<strong>ey</strong> contact<br />
2<br />
| <strong>2015</strong> <strong>tax</strong> <strong>policy</strong> <strong>outlook</strong><br />
2.1 K<strong>ey</strong> drivers of <strong>tax</strong> <strong>policy</strong> change<br />
• <br />
re<strong>for</strong>m ef<strong>for</strong>ts are a new driver.<br />
• The introduction of the ASEAN Economic Community (AEC) in <strong>2015</strong> will continue to be<br />
a driver of <strong>policy</strong> in terms of lower corporate and personal income <strong>tax</strong> rates, competitive<br />
investment privileges and waivers of import tariffs <strong>for</strong> intra-ASEAN trade in order to avoid<br />
<br />
• If the current corporate and personal income <strong>tax</strong> rates and the reduced 7% VAT rate are<br />
<br />
<br />
<br />
to miss its revenue target in 2014, while the <strong>2015</strong> target is 4% higher still.<br />
Content provision date<br />
<br />
1 <br />
2 <br />
3 <br />
178 | The <strong>outlook</strong> <strong>for</strong> <strong>global</strong> <strong>tax</strong> <strong>policy</strong> in <strong>2015</strong>
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