Newsletter N8

Newsletter No. 69 (EN)

 

 

 

 

 

Withholding Tax on Dividends in Thailand

 

December 2014

 

 

 

 

 

 

A l l r i g h t s r e s e r v e d © L o r e n z & P a r t n e r s  2 0 1 4

 

Although Lorenz & Partners always pays great attention on updating information provided in newsletters and brochures we cannot take responsibility for the completeness, correctness or quality of the information pro-vided. None of the information contained in this newsletter is meant to replace a personal consultation with a qualified lawyer. Liability claims regarding damage caused by the use or disuse of any information provided, in-cluding any kind of information which is incomplete or incorrect, will therefore be rejected, if not generated de-liberately or grossly negligent.

 

 

  • Introduction

Whenever a Thai Company pays dividend to its shareholders, such dividend is normally sub-ject to income tax at the rate of 10%. However, there are the following three exemptions which shall be discussed in this newsletter:

 

  • Clause 5 of the Department Regulation No. paw 4/2528

 

  • Section 34 of the Investment Promo-tion Act B.E 2520 (BOI)

 

  • Section 11 of Royal Decree No. 405, (ROH)


III. Section 34 of the Investment Promotion Act B.E. 2520 (BOI)

 

  • Requirements

 

The Thai Company paying dividend has to be a company promoted by the Board of Invest-ment (BOI). Additionally, it is required that the dividend is paid from profits out of promoted activities and that such dividend is paid during the time the BOI Company still is exempted from corporate income tax. Such exemption is granted for up to eight years, starting with the date the BOI Company starts operating.

 

  • Comment


 

  1. Clause 5  of  the  Department

Regulation No. Paw 4/2528

 

  • Requirements

 

Clause 5 of the Department Regulation No. Paw 4/2528 has actually two exemptions:

 

  • The Thai Company pays dividend to a Listed Company. A Listed Company is a Company that is registered at the Thai stock market.

 

  • A non-listed Thai Company, receiving dividend from another Thai company, holds at least 25% of the total shares (with voting rights) of such company, and the paying Com-pany is not holding any shares in the receiving company (No Cross shareholding).

 

  • Comment

 

In order to additionally save corporate income tax, the non-listed Thai Company receiving dividend needs to hold the shares in the paying company for at least 6 months. (3 months be-fore the dividend is paid and additionally 3 months after the dividend is paid).

 

  1. In fact, BOI Companies sometimes get profit out of promoted and non-promoted activities. In such case, profits have to be sepa-rated into earnings resulting from promoted activities and ones resulting from non-promoted activities. The BOI Company can choose to pay dividend from its profits either arising from promoted or non-promoted ac-tivities. However, only dividends paid from promoted activity go along with the tax ex-emption.

 

  1. This exemption applies to all share-holders of the BOI Company., local and for-eign.
  2. Section 11   of   Royal   Decree

No. 405 (ROH)

 

  • Requirements

 

Regional Operating Headquarters (ROH) are defined as companies established under the law of Thailand which have a minimum paid up capital of THB 10 million and perform busi-ness by providing managerial, administrative, technical or any other prescribed supporting services for related parties (for details, please refer to our Newsletter No. 118).

 

The Foreign Company receiving dividend must be a shareholder of the ROH Company. Fur-ther on, the dividend has to be paid from the revenue that is generated by either one of the following ROH Company’s activities:

 

  1. Services provided by the ROH Com-pany to associated enterprises or foreign branches;

 

  1. Interests from the loan given by the ROH Company to associated enterprises or foreign branches;

 

 

  1. c) Royalties arising from the technologi-cal research and development performed by the ROH Company to associated enterprises or foreign branches.

 

  1. Comment

 

  • This exception only applies to foreign companies. It does not apply to individuals or Thai companies.

 

  • The exemption does also not apply to revenues generated by dividends which are re-ceived by the ROH from other companies.

 

 

 

 

Table 1:  Withholding tax on dividends exemptions

 

 

Under the Departmental Regula-

Under  the  Investment  Promo-

 

tion No. Paw 4/2528

tion Act B.E 2520

 

 

 

Conditions  to  get  the

a) The status of the company pay-

The status of the Thai Co. paying

exemption

ing dividend must be that of a

dividend must be that of a BOI

 

listed Thai Co.

Co.  and dividends  have to  be

 

or

paid  from  profits  out  of  pro-

 

moted activities and paid during

 

b) The recipient has to hold at

the  time  the BOI  Company  is

 

exempted  from  corporate  in-

 

least 25% of shares in the com-

 

come tax.

 

pany paying dividend and the pay-

 

 

 

ing company is not holding any

 

 

shares in the receiving company.

 

 

 

 

Who does it apply to?

Applies only to Thai Co.

Applies to all shareholders of the

 

 

BOI Company.

 

 

 

How  long  can  the  ex-

As long as the conditions are met.

Up to a maximum of 8 years.

emption be obtained?

 

 

 

 

 

 

Table 2: ROH’s Corporate Income Tax and Withholding Tax on the distribution of dividends

 

 

 

 

Type of ROH ’s activities

 

ROH’s

Cor-

 

Withholding tax on dividend paid

 

 

 

 

 

porate

In-

 

from ROH to foreign companies

 

 

 

 

 

come Tax

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Services offered by ROH to its asso-

 

 

 

10%

 

0%

 

 

 

 

ciated  enterprises  or  its  foreign

 

 

 

 

 

 

 

 

 

 

branches

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest received from associated en-

 

 

 

10%

 

0%

 

 

 

 

terprise or foreign branch by ROH

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Royalties arising from the result of

 

 

 

10%

 

0%

 

 

 

 

technological research and develop-

 

 

 

 

 

 

 

 

 

 

ment  carried  out  in  Thailand  by

 

 

 

 

 

 

 

 

 

 

ROH

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Dividend received from other com-

 

 

 

0%

 

10%

 

 

 

 

panies

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Table 3: Thai withholding tax on interest

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Thai Company pays interest to

 

 

 

Withholding tax rate

 

Reference

 

 

 

 

 

 

– Thai company

 

 

 

1%

Taw Paw 4/2528

 

 

 

 

 

 

– Thai bank

 

 

 

1%

Taw Paw 4/2528

 

 

 

 

 

 

 

 

– Foreign company not carrying on business

 

 

 

 

 

 

 

in Thailand

 

 

 

 

 

 

 

 

 

 

* no DTA

 

 

 

20%

Section 70

 

 

 

 

 

 

 

 

 

 

 

 

 

* have DTA

 

 

 

 

 

 

 

 

 

 

# Austria

 

25%

 

 

DTA: Article 11 (2) (b)

 

 

 

 

 

 

 

 

# Germany

 

25%

 

 

DTA: Article 11 (2)

 

 

 

 

 

 

 

 

# Singapore

 

25%

 

 

DTA: Article 11 (2) (b)

 

 

 

 

 

 

 

 

# Switzerland

 

15%

 

 

DTA: Article 11 (2) (b)

 

 

 

 

 

 

 

 

 

Exempt

 

DTA: Article 11 (3) (b)

 

 

 

If interest is paid in respect of a

 

 

 

 

 

 

 

 

loan made or guaranteed or in-

 

 

 

 

 

 

 

 

sured by the Bank of Thailand

 

 

 

 

 

 

 

 

and EXIM Bank or under the

 

 

 

 

 

 

 

 

Swiss provisions regulating the

 

 

 

 

 

 

 

 

Export or Investment Risk

 

 

 

 

 

 

 

 

Guarantee

 

 

 

 

 

 

 

 

 

 

 

 

 

 

– Foreign company carrying on business in

 

1%

 

 

Taw Paw 4/2528

Thailand

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Thai Bank pays interest to:

 

Withholding tax rate

 

 

 

 

 

 

 

 

 

 

 

– Thai company

 

1%

 

 

Taw Paw 4/2528

 

 

 

 

 

 

– Foreign company carrying on business in

 

1%

 

 

Taw Paw 4/2528

Thailand

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

– Foreign company not carrying on business

 

 

 

 

 

 

 

in Thailand

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

* no DTA

 

20 %

 

 

Section 70

 

 

 

 

 

 

 

 

 

 

 

* have DTA

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

# Austria

 

25%

 

 

DTA: Article 11 (2) (b)

 

 

 

 

 

 

 

 

# Germany

 

25%

 

 

DTA: Article 11 (2)

 

 

 

 

 

 

 

 

# Singapore

 

25%

 

 

DTA: Article 11 (2) (b)

 

 

 

 

 

 

 

 

# Switzerland

 

15%

 

 

DTA: Article 11 (2) (b)

 

 

 

 

 

 

 

 

 

Exempt

 

DTA: Article 11 (3) (b)

 

 

 

If interest is paid in respect of a

 

 

 

 

 

 

 

 

loan made or guaranteed or in-

 

 

 

 

 

 

 

sured by the Bank of Thailand

 

 

and EXIM Bank or under the

 

 

Swiss provisions regulating the

 

 

Export or Investment Risk

 

 

Guarantee

 

 

 

 

– Foreign bank carrying on business in Thai-

No withholding tax

 

land

 

 

 

 

 

 

 

 

Newsletter No. 70          (EN)

 

 

 

 

 

“Carrying on Business” and

“Having a (taxable) Permanent Establishment”

 

in Thailand

 

 

 

June 2016

 

 

 

 

A l l r i g ht s r e s e r v e d © L o r e n z &  P a r t ne r s 2 0 1 6

 

Although Lorenz & Partners always pays great attention on updating information provided in newsletters and brochures we cannot take responsibility for the completeness, correctness or quality of the information provided. None of the information contained in this newsletter is meant to replace a personal consultation with a qualified lawyer. Liability claims regarding damage caused by the use or disuse of any information provided, including any kind of information which is incomplete or incorrect, will therefore be rejected, if not generated deliberately or grossly negligent.

 

 

 

 

  1. Background

 

The terms “carrying on business in Thai-land” and “having a permanent establish-ment in Thailand” are important to for-eign companies with regard to tax. It might depend on these two terms whether or not income or profit tax has to be paid in Thailand.

 

In general, a Foreign Company is respon-sible to pay corporate income tax if it car-ries on business in Thailand.

 

In case the Foreign Company has its headquarters registered in a country that has entered into a Double Tax Agreement (“DTA”) with Thailand, such company is liable to pay corporate income tax only if it has a permanent establishment in Thai-land (“PE”).

 

  1. “Carrying on Business in Thailand”

 

  1. In General

 

A Foreign Company will be treated as car-rying on business if it has a registered branch or its agent or employees con-duct business in the Kingdom of Thai-land.

 

  1. a) Registered Branch

Whenever a Foreign Company has a branch in Thailand, the Revenue Depart-ment of Thailand usually states that the Foreign Company has to pay corporate income tax. (Exception: Representative Office and Regional Office. Please refer to our Newsletter No. 43 as well as and in particular our Brochure No. 1 for further details in regards to setting up a company

 

 

 

in Thailand and its advantages for corpo-rate income tax).

 

  1. b) Agents or Employees

The Foreign Company is treated as carrying on business if

 

  • It has agents and employees in Thailand and

 

  • the actions of the employees or the repre-sentatives are an important factor to the Foreign Company in deriving income in Thailand. An important factor is usually given if:

 

– The employee or the representative comes to sign a sales contract (even if just one time) on behalf of the For-eign Company with a Thai Company in Thailand, or

 

– the employee or the representative just helps securing orders on behalf of a Foreign Company with a Thai Com-pany in Thailand.

 

The legal practice of the Supreme Court is to view technical assistance or consultancy ser-vices just as assistance and therefore not as an important factor.

 

On the other hand, an important factor can be assumed if employees or representatives come to provide services on behalf of a Foreign Company in Thailand and the nature of the services provided is related to the installation of machines or the construction of buildings for the benefit of customers in Thailand.

 

III. “Having a Permanent Establishment

 

(PE) in Thailand”

 

In general, “PE” is understood as a fixed place where the business of the enterprise is done.

 

However, the term “PE” can be divided into three categories:

 

  1. “Asset PE”

According to the DTA, an “Asset PE” is given if it matches the following specifications:

 

  • a place of management

 

  • a branch

 

  • an office

 

  • a factory

 

  • a workshop

 

  • a mine, an oil or gas well, a quarry or any other place of extraction of natural re-sources

 

  • a farm or plantation

 

  • a warehouse in relation to a person provid-ing storage facilities for others.

 

The Revenue Department of Thailand fur-thermore treats the following as “PE”:

 

  • rented offices

 

  • space provided free of charge for at least 6 months

 

However, the term “PE” shall be deemed not to include:

 

  • the use of facilities solely as storage or dis-play of goods or merchandise belonging to the enterprise

 

  • the maintenance of a stock of goods or merchandise belonging to the enterprise solely for the purpose of storage or display

 

  • the maintenance of a stock of goods or merchandise belonging to the enterprise solely for the purpose of processing by an-other enterprise

 

  • the maintenance of a fixed place of business solely for the purpose of purchasing goods or merchandise, or collecting information, for the enterprise

 

  • the maintenance of a fixed place of business solely for the purpose of advertisement, providing information, science researching,

 

carrying on, for the enterprise, any other ac-tivity of a preparatory or auxiliary character

 

  1. “Activity PE”

In general, DTAs state that a Foreign Com-pany is treated as having an “Activity PE” in Thailand if it supports a building site, construc-tion, installation or an assembly project and such specific activities exist for more than 6

 

months in Thailand.

 

Especially for German companies should be mentioned that under the DTA between Thai-land and Germany, supervisory activities are not part of “Activity PE”. Consequently, Ger-man companies can send employees to Thai-land to perform advisory services for more than six months without being treated as hav-ing an “Activity PE”.

 

  1. “Agent PE”

An Agent PE is:

 

  • a person that habitually has the authority to negotiate and conclude sales contracts on behalf of the foreign company in Thailand

 

  • a person that does not have such author-ity, but habitually maintains a stock of goods or merchandise from which he regu-larly fills orders or makes deliveries on be-half of the foreign company

 

  • a person  habitually  securing  orders  in

Thailand wholly or almost wholly for the foreign company or other enterprises which are controlled by it or have a control-ling interest in it.

 

However, a Foreign Company is not deemed to have an “Agent PE” in Thailand if business is done through a broker, general commission agent or any other agent of an independent status.

 

Whenever a definition of independent agent is given by the DTA, it is also used by the Reve-nue Department. However, if the definition of independent agent is not given by the DTA, the independent agent status is determined by looking if such agent is controlled by a Foreign Company. The dependence of the agent can usually be assumed, if the commission fee that the agent receives from the Foreign Company

 

exceeds 75 percent of all commission fees.

 

 

 

 

Table 1

Types of activities of Foreign Company / PE in Thailand

 

 

 

 

 

 

 

Types of activities of

 

Activity

Agent

 

 

Foreign Company in

Asset PE

No PE

 

PE

PE

Thailand

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Having office, factory

 

 

 

 

 

or workshop in Thai-

X

 

 

 

 

 

land

 

 

 

 

 

 

 

 

 

 

 

Having employees to

 

 

 

X

 

do service activities in

 

X

 

In case the activity is

 

Thailand

 

 

 

not indicated in DTA

 

 

 

 

 

 

 

Having person who

 

 

 

 

 

usually exercises au-

 

 

X

 

 

thority to conclude

 

 

 

 

 

 

 

 

 

contracts in Thailand

 

 

 

 

 

 

 

 

 

 

 

Having person who

 

 

 

 

 

usually secures orders

 

 

X

 

 

in Thailand

 

 

 

 

 

 

 

 

 

 

 

 

Sets up subsidiary in

 

 

 

X

 

 

 

 

Except if a subsidiary

 

Thailand to perform

 

 

 

 

 

 

acts as agent of the

 

the work

 

 

 

 

 

 

foreign company

 

 

 

 

 

 

 

 

 

 

 

 

Having independent

 

 

 

 

 

agent in Thailand to

 

 

 

 

 

help securing orders or

 

 

 

X

 

signing sale contracts

 

 

 

 

 

in Thailand

 

 

 

 

 

 

 

 

 

 

 

Fixed place in Thai

 

 

 

 

 

land for sole purpose

 

 

 

X

 

of a stock of goods

 

 

 

 

 

 

 

 

 

 

 

 

 

Table 2:

Tax Liability for Foreign Company in Thailand

 

 

 

 

 

 

 

 

 

 

 

 

 

Status of Foreign Company

Residents of DTA Coun-

Residents of non-DTA

 

 

tries

 

 

Countries

 

 

 

 

 

 

 

 

 

 

 

 

 

Required conditions for Foreign

Must have a PE in Thai-

Needs only to carry on the

 

 

Company to be subject to tax in

trade or the business in

 

 

land.

 

 

 

Thailand

 

 

Thailand

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Tax Base and Rate of Tax

20 % on net profits

 

20 % on net profits

 

 

 

 

 

 

 

 

 

Withholding Tax

5%, 3%, 1% if having PE

5%, 3%, 1% if  carrying on

 

 

 

business in Thailand*

 

 

 

 

in Thailand*

 

 

This withholding tax rate applies

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

when the income paid to Foreign

 

15% if not carrying on busi-

 

 

Company is service fee.

0% if no PE in Thailand

 

 

 

ness in  Thailand

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

*

  • 1% if paid by the Thai government, governmental organization etc.1

 

  • 3% if paid to foreign juristic company or partnership carrying on business in Thai-land with a permanent office2

A “permanent office” (not to be confused with “permanent establishment”) exists if the foreign juristic company or partnership:

 

o Is the owner of an office in Thailand; or

 

o Is carrying on other business in Thailand besides engaging in contractual works3, i.e. legally performing business on a permanent basis, e.g. trading business; or

 

o Has a provident fund set up for its employees in Thailand in accordance with Sec. 65 ter Revenue Code.

 

  • 5% if paid to foreign juristic company or partnership carrying on business in Thai-land without a permanent office4
  • 69 bis Revenue Code.
  • Departmental Regulation No. Taw. Paw. 4/2528 Sec. 8(3) and No. Paw. 8/2528 Sec. 1.
  • “contractual works“ = works under contract with limited period, e.g. hire of work, hire of service, project work.
  • Departmental Regulation No. Taw. Paw. 4/ 2528 Sec. 12.

 

 

 

Newsletter No. 72 (EN)

 

 

 

Capital Gain from the Sale of Shares of a Thai Co., a Listed Co., or a Foreign Co.

 

 

 

December 2014

 

 

 

A l l r i g h t s r e s e r v e d © L o r e n z & P a r t n e r s  2 0 1 4

 

Although Lorenz & Partners always pays great attention on updating information provided in newsletters and brochures we cannot take responsibility for the completeness, correctness or quality of the information pro-vided. None of the information contained in this newsletter is meant to replace a personal consultation with a qualified lawyer. Liability claims regarding damage caused by the use or disuse of any information provided, in-cluding any kind of information which is incomplete or incorrect, will therefore be rejected, if not generated de-liberately or grossly negligent.

 

Capital Gain in Thailand on the Profit from the Sale of Shares of a Thai Co

 

 

 

 

 

The

 

 

 

 

 

 

 

 

buyer

 

 

The

seller

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Thai Co and Individual, residing

 

Foreign Co

 

 

 

 

in Thailand

 

(DTA or non-DTA)

 

 

 

 

 

 

 

 

 

 

W/T tax at the rate of 0-35%

No W/T on capital gain

 

Individual,

 

 

 

 

 

 

residing in

Pay PIT in Thailand and W/T de-

Pay PIT in Thailand

 

Thailand

ducted can be taken as tax credits

 

 

 

 

Individual,

 

 

 

 

 

 

residing in

W/T at 15% on Capital Gain

No W/T on Capital Gain

 

foreign

 

 

 

 

 

 

country

No PIT in Thailand on Capital

No PIT in Thailand on Capital

 

(non-DTA)

Gain

Gain

 

Individual,

No W/T on Capital Gain

No W/T on Capital Gain

 

residing in

 

 

 

 

 

 

foreign

No PIT in Thailand on Capital

No PIT in Thailand on Capital

 

country

Gain

Gain

 

(with DTA)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

No W/T on Capital Gain

No W/T on Capital gain

 

Thai Co.

 

 

 

 

 

 

 

 

 

Pay CIT in Thailand on Capital

Pay CIT in Thailand on Capital

 

 

 

 

Gain

Gain

 

 

 

 

 

 

 

 

Foreign

 

 

 

 

 

 

Company

W/T at 15% on Capital Gain

No W/T on Capital Gain

 

(non-DTA)

 

 

 

 

 

 

 

 

 

No CIT in Thailand

No CIT in Thailand

 

Foreign

No W/T / No CIT in Thailand be-

No W/T /No CIT in Thailand be-

 

Company

cause Capital Gain is taxed in the

cause Capital Gain is taxed in the

 

(with DTA)

country where the seller is a resident

country where the seller is a resident

 

 

 

 

under Article 13 para 5 of the

under Article 13 para 5 of the

 

 

 

 

OECD Model Taxation Conven-

OECD Model Taxation Conven-

 

 

 

 

tion. (May be different according to

tion. (May be different according to

 

 

 

 

other DTA.)

other DTA.)

 

 

 

 

Capital Gain in Thailand on the Profit from the Sale of Shares of a Listed Company

 

 

The buyer

 

The seller

 

 

 

 

 

 

Thai Co and Individual,

Foreign Co

 

residing in Thailand

(DTA or non-DTA)

 

 

 

 

No W/T on Capital Gain

No W/T on Capital Gain

Individual, resid-

 

 

ing in Thailand

No PIT in Thailand on Capital Gain

No PIT in Thailand on Capital

 

 

Gain

 

 

 

Individual, resid-

No W/T on Capital Gain

No W/T on Capital Gain

ing in foreign

 

 

country

No PIT in Thailand on Capital Gain

No PIT in Thailand on Capital

(non-DTA)

 

Gain

 

 

 

Individual, resid-

No W/T on Capital Gain

No W/T on Capital Gain

ing in foreign

 

 

country

No PIT in Thailand on Capital Gain

No PIT in Thailand on Capital

(with DTA)

 

Gain

 

 

 

Thai Co

No W/T on Capital Gain

No W/T on Capital Gain

 

Pay CIT in Thailand on Capital Gain

Pay CIT in Thailand on Capital

 

 

Gain

 

 

 

Foreign Company

W/T at 15% on Capital Gain

No W/T on Capital Gain

(non-DTA)

 

 

 

No CIT in Thailand on Capital Gain

No CIT in Thailand on Capital

 

 

Gain

 

 

 

Foreign Company

No W/T/ No CIT in Thailand be-

No W/T /No CIT in Thailand be-

(with DTA)

cause Capital Gain is taxed in the

cause Capital Gain is taxed in the

 

country where the seller is a resident

country where the seller is a resident

 

under Article 13 para 5 of the OECD

under Article 13 para 5 of the

 

Model Taxation Convention.

OECD Model Taxation Conven-

 

 

tion.

 

 

 

 

 

Capital Gain in Thailand on the Profit from the Sale of Shares of a Foreign Company

 

 

 

 

 

 

 

 

 

 

 

 

The buyer

 

 

 

 

 

 

The seller

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Thai Co and Individual, residing

Foreign Co

 

 

 

in Thailand

(DTA and non-DTA)

 

 

 

 

 

 

 

 

 

 

Individual,

 

W/T at the rate of 0-35% and Pay

No W/T

 

 

 

 

 

residing in

 

PIT in Thailand on Capital gain only

No PIT in Thailand except the

 

Thailand

 

if capital gain is brought into Thailand

capital gain is brought into Thai-

 

 

 

in the same year that the transaction

land in the same year that the

 

 

 

of stock sale is made

transaction of stock sale is made

 

 

 

W/T deducted can be taken as tax

 

 

 

 

 

 

 

 

credits

 

 

 

 

 

 

Individual,

 

 

 

 

 

 

 

 

residing in

 

Not applicable

Not applicable

 

 

 

 

 

foreign

 

 

 

 

 

 

 

 

country

 

 

 

 

 

 

 

 

(non-DTA)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Individual,

 

Not applicable

Not applicable

 

 

 

 

 

residing in

 

 

 

 

 

 

 

 

foreign

 

 

 

 

 

 

 

 

country

 

 

 

 

 

 

 

 

(with DTA)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

No W/T on Capital Gain

No W/T on Capital Gain

 

Thai Co

 

 

 

 

 

 

 

 

 

 

Pay CIT in Thailand on Capital Gain

Pay CIT in Thailand on Capital

 

 

 

 

Gain

 

 

 

 

 

Foreign

 

 

 

 

 

 

 

 

Company

 

Not applicable

Not applicable

 

 

 

 

 

(non-DTA)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Foreign

 

Not applicable

Not applicable

 

 

 

 

 

Company

 

 

 

 

 

 

 

 

(with DTA)

 

 

 

 

 

 

 

 

Newsletter Nr. 79 (DE)