As stipulated on the Revenue Department’s website, the Specific Business Tax (SBT) is another type of indirect tax introduced in 1992 to replace Business Tax. Certain businesses that are excluded from VAT will instead be subject to SBT. Juslaws & Consult also assists companies in Thailand with SBT payments.
Similar to our VAT and WHT services, Juslaws & Consult provides comprehensive SBT advising and services to businesses in Thailand. We encourage you to consult with us, especially if you are new to doing business in Thailand, as it is crucial to effectively manage your business and ensure compliance with any applicable taxes you are required to pay.
Any person or entity who engages in certain businesses in Thailand is subject to SBT instead of VAT. Businesses that are subject to SBT include:
Like the other applicable and payable taxes, there are activities of certain entities are exempted from SBT such as:
1. Banking, finance, and similar business
2. Business of finance, securities, and credit foncier
3. Life Insurance
4. Pawn Brokerage
5. Businesses with regular transactions similar to commercial banks
6. Real estate
7. Sale of securities in a securities market
Remark: Local tax at the rate of 10 % is imposed on top of SBT.
As advised by the Revenue Department of Thailand, any entity or person who is subject to SBT must register to be SBT registered person or entity (Form ภธ. 01) within 30 days of its first day of operation at the Area Revenue Office if it is situated in Bangkok or at District Revenue Office it is situated elsewhere. Should taxpayers have several branches or offices, registration applications must be submitted to the Area or District Revenue Office where the headquarter is situated.
In the case of an operator who is a foreign resident, a person who is an agent of such operator shall be responsible for undertaking specific business tax registration for the operator who is a foreign resident.
SBT taxable period is a calendar month. SBT return (Form ภธ. 40) must be filed on a monthly basis regardless of whether or not the business has income. SBT return and payment must be submitted to the District Revenue Office within 15 days of the following month. If the taxpayer has more than one place of business, each place of business must file its return and make the payment separately unless there is approval from the Director-General.
Juslaws & Consult also offers SBT filing and registration services, along with all related services. With many years of experience in the industry, we are confident in our ability to assist you with any taxation matters in Thailand.
We provide comprehensive action plans and tax planning services, leveraging our expertise to serve you effectively. If you have any questions or inquiries, we encourage you to contact us, and we will be happy to assist and serve you. Your satisfaction is our priority.