Here are Thailand’s statutory updates for 2025.
Effective January 2025
End of Personal Income Tax Exemption for Super Saving Fund (SSF)
Thailand’s Revenue Department announced that contributions to the Super Saving Fund (SSF) will no longer be eligible for tax deductions starting 1 January 2025. The previous exemption under Tax Ministerial Regulation No. 357 applied to income earned from 2020 to 2024 and will now be discontinued.
Source: Ramco
Thailand Minimum Wage Increase for 2025
Thailand has announced new minimum wage rates for 2025, ranging from 337 baht (US$9.73) to 400 baht (US$11.55) per day, varying by region:
- 400 Baht/day: High-cost areas such as Chachoengsao, Chonburi, Phuket, Rayong, and Koh Samui.
- 380 Baht/day: Regional hubs like Chiang Mai (Muang District) and Songkhla (Hat Yai District).
- 372 Baht/day: Bangkok and surrounding provinces, including Nakhon Pathom and Nonthaburi.
- 337 Baht/day: Southern provinces such as Narathiwat, Pattani, and Yala.
This adjustment aims to address living cost disparities while maintaining business competitiveness.
Source: ASEAN Briefing
Thailand Implements Global Minimum Corporate Tax Rate
Thailand will introduce a 15% global minimum corporate tax rate for multinational enterprises starting 1 January 2025. This aligns with the OECD’s Global Minimum Tax framework, targeting multinational corporations with an annual global turnover exceeding 750 million euros ($781 million).
While Thailand’s standard corporate tax rate is 20%, companies benefiting from incentives through the Thailand Board of Investment can receive up to 13 years of exemptions.
Other ASEAN countries, including Vietnam, Indonesia, Malaysia, and Singapore, will also adopt the global minimum tax in 2025.
Source: Reuters
Thailand Launches Easy E-Receipt 2.0 to Simplify Tax Deductions
The Thai Revenue Department has introduced Easy E-Receipt 2.0, a digital system designed to help individual taxpayers claim deductions more efficiently. This enhanced platform integrates seamlessly with the Revenue Department’s e-filing system, simplifying the process of recording and submitting receipts for eligible expenses.
Key Features:
- Real-Time Integration: Taxpayers can directly upload receipts via the e-filing platform.
- Broader Eligibility: Covers a wider range of deductible expenses, including charitable donations and education costs.
- Automated Calculations: Automatically calculates deductions to minimise errors and streamline tax compliance.
Source: Thailand Business News
