We would like to know if our company will pay the donation. Could it be considered as the company taxable expenses? And Can you let us know who is the normally non-approved person for donation.
Panwa: The Donation shall not be allowed as expenses in the calculation of net profits in accordance to Thailand’s Revenue code but except expense for public charity, or for public benefit as the Director-General prescribes with the approval of the Minister where specified in the section 65 Ter (3) that;
Section 65 Ter (3) Expense for personal, gift, or charitable purpose except expense for public charity, or for public benefit as the Director-General prescribes with the approval of the Minister, shall be deductible in an amount not exceeding 2% of net profit. Expense for education or sports as the Director-General prescribes with the approval of the Minister shall also be deductible in an amount not exceeding 2% of net profit.
For more information, please feel free to contact us:
Phone: +66 2 933 9000
Fax: +66 2 933 6120
Email: bkk@panwa.co.th