SUMMARY: “The Relief Measure” to support business operators affected by COVID-19
1. Measures from Revenue Department
1.1) Extension of tax filing and payment
Taxes
Withholding Tax & VAT of June 2021
Withholding Tax & VAT of July 2021
Personal Income Tax 2020
Corporate Income Tax of 1 Jan – 31 Dec 2020 (in response to postponement of AGM)
New Deadline
30 July 2021
31 August 2021
30 June 2021
30 June 2021
The extension of tax filing is available for online filing only. This is to help increase the entrepreneur’s liquidity.
1.2) 200% deductions for software related expenses for SMEs. This is to encourage all SMEs to adopt digital technology to improve their operations. The three eligible expenses including;
- The purchase of software or computer programs from software firms,
- The Payment for hiring of developers to produce software
- The Fees paid to software service providers.
All these software firms, developers or software service providers must be registered with the Digital Economy Promotion Agency (DEPA). The expenses are not exceeding 100,000 baht and for the SMEs business with accounting period from 1st January 2021 – 31st December 2022.
2. Measure from Department of Business Development
The extension granted for Annual General Meeting (AGM) and filing of audited financial statement through e-filing only.
Extensions
Annual General Meeting
Filing of Shareholder List
Filing the audited financial statement
Company Limited*
31 May 2021
14 June 2021***
30 June 2021***
Partnership Limited**
X
X
30 June 2021
* Limited companies, Public limited companies, Trade Associations and Chambers of Commerce
** Registered partnerships, Foreign companies operating business in Thailand and Joint ventures
*** A letter clarifying the reason(s) for postponement must be filed together with audited financial statement.
3. Measure from Social Security Office
The reduction in monthly contribution for 3 months starting from June – August 2021 is granted.
- The insured person under section 33, contribution reduced to 2.5% for both employer and employee or maximum at 375 per month.
- The insured person under section 39, contribution reduced from 432 baht to 216 baht per month.
Please send your request for more details to: info@mbmg-group.com
Please Note: While every effort has been made to ensure that the information contained herein is correct, MBMG Group cannot be held responsible for any errors that may occur. The views of the contributors may not necessarily reflect the house view of MBMG Group. Views and opinions expressed herein may change with market conditions and should not be used in isolation.
