ey-global-tax-policy-outlook-for-2015

Thailand
2.10 Pending tax proposals
• An inheritance tax bill was approved in principle by the
Cabinet on 18 November 2014 and is in the process of being
drafted. It is expected to become effective in 2015 or 2016.
The inheritance tax will be levied on those who receive assets
worth more than THB50 million from a deceased person,
with this threshold being the net amount after deducting
debts incurred by the deceased. The maximum proposed tax
rate is 10%, with the minimum rate yet to be determined by
the National Legislative Assembly.
2.11 Consultations opened/closed
• Not applicable
• A gift tax was approved in principle by the Cabinet in
process of amending the Revenue Code accordingly. Under
the new regulation, taxpayers are required to deduct and
remit a 5% gift tax on transfers of immovable assets to a
legitimate child without consideration, to the extent that the
deemed income from the transfer exceeds THB10 million
(approximately US$150,000).
•
amendment to the Revenue Code concerning transfer
pricing in 2015, aiming to provide greater clarity regarding
the transfer pricing documentation that must be in place
these requirements.
•
incentives for the IHQ. These are expected to be enacted by
January 2015 and to cut the rate of CIT to 10%, provide tax
and capital gains derived from disposals of holdings overseas
working for the IHQ in Thailand.
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