The Cabinet of the Thai Government has approved a number of measures to encourage individuals to operate businesses in the form of juristic persons. These include:
- -Income Tax, VAT, Specific Business Tax and Stamp Duty exemptions on the transfer of ownership of immovable property and assets to newly established companies or juristic partnerships.
- -Double deduction of expenses incurred on the set-up of a new company and on accounting and audit fees for five accounting periods, provided the capital of the new company does not exceed THB 5 million and income derived from sales or the provision of services does not exceed THB 30 million.
- -Reduced fees, from 2% to 0.01% on the appraisal value, for the registration of rights and juristic acts relating to the transfer of immovable property and condominiums of shareholders that are to be used as capital for the new company.
Standard deduction of expenses of up to 60% of assessable income under Section 40(7) and (8), incurred from 1st January 2017.
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