Thailand is reducing its withholding tax to boost the economy amid the coronavirus outbreak.
The Cabinet on Tuesday approved a Finance Ministry proposal related to Covid-19 that would reduce the domestic corporate withholding tax to 1.5% from 3%, between April 1 and Sept. 30, if companies make payments via an electronic tax withholding system. The tax rate would rise to 2% from Oct. 1 to Dec. 31, 2021.
- Value-added tax refunds would also be sped up. Online refunds would be made within 15 days, while refunds from tax branch offices would be ...
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