Fiscal PolicyGovernment & regulators

Revenue Department of Thailand (RD)

Revenue Department of Thailand (RD) is the national tax administration authority under the Ministry of Finance. Administers value-added tax (VAT 7%), corporate income tax (CIT 20%), personal income tax (PIT progressive 0-35%), withholding tax, and specific business tax (SBT). Operates 77 provincial offices and a network of Bangkok-area district offices covering ~3,000 filing points. Collected THB 2.4 trillion in FY2024, representing approximately 60% of total Thai government revenue. Hosts RD e-Filing and the e-Tax Invoice and e-Receipt system. Coordinates with Customs Department and Excise Department on cross-department tax data matching and Pillar-2 global minimum tax implementation.

Snapshot

Headline numbers a buyer checks first.

Year established

1915

Founded

Under Revenue Code B.E. 2481 (1938) as principal statute

FY2024 revenue collected

THB 2.4T+

FY2024

VAT, CIT, PIT, WHT, SBT combined

Share of government revenue

~60%

FY2024

Customs and Excise collect the remainder

Provincial offices

2025

One per province plus Bangkok district offices

Registered VAT businesses

600,000+

2024

Entities exceeding THB 1.8M annual revenue threshold

What the Revenue Department actually does

The Revenue Department is the primary tax collection and administration authority in Thailand. It administers the Revenue Code, which governs VAT, CIT, PIT, withholding tax, and SBT. Every company registered in Thailand — foreign or domestic — files and pays taxes through the RD system. The RD is the counterparty on all tax-incentive structures that go beyond BOI promotion: IBC (International Business Centre) preferential rates, BOI-sector tax holidays, transfer-pricing documentation, and country-by-country reporting (CbCR) for multinationals.

The RD also administers the e-Tax Invoice and e-Receipt system, which is progressively replacing paper invoicing for VAT-registered businesses. As of 2024 the system covers approximately 300,000 businesses, with mandatory rollout expanding in 2025. For businesses with digital cross-border transactions, the RD has extended VAT obligations to foreign digital service providers under the e-Service tax rules effective September 2021 — encompassing Netflix, Google, Meta, and similar platforms with Thai end-users.

Revenue Code B.E. 2481; RD annual report 2024; MoF fiscal statistics

Data as of: 2024-2025

The four major taxes RD administers

Each tax has a distinct rate structure, filing cadence, and compliance exposure profile.

Tax 1 — VAT

VAT 7% (standard rate, temporarily reduced from 10%)

The standard VAT rate is 10% under the Revenue Code, but has been reduced by Royal Decree to 7% continuously since 1997. Registration threshold is $52,174 annual revenue. Monthly filing (PP.30). Zero-rate applies to exports. Exemptions include unprocessed agricultural goods, financial services, healthcare, and education. Foreign digital-service providers must register under e-Service VAT rules since September 2021.

Tax 2 — CIT

Corporate income tax 20%; SME relief, IBC preferential rates

Standard CIT rate is 20% on net profit. SMEs (paid-up capital below $144,928, revenue below $869,565) enjoy graduated rates of 15-20%. BOI-promoted companies receive 0% for 3-8 years. IBC-qualifying companies pay 3-8-10% on qualifying income. Pillar-2 QDMTT at 15% for in-scope multinationals is under RD implementation for fiscal years beginning 2025.

Tax 3 — PIT

Personal income tax: progressive 0-35%

PIT applies to Thai-source income for residents and non-residents. The RD's interpretation of 'tax resident' (180 days in a calendar year) determines withholding on employment income. Foreign-sourced income was non-taxable if not remitted in the same year — the RD issued Departmental Instruction No. Paw. 161/2566 effective 1 January 2024 closing this deferral window, creating significant disclosure obligations for high-net-worth residents.

Tax 4 — WHT and SBT

Withholding tax 1-15%; Specific Business Tax on financial transactions

WHT is the most pervasive compliance touchpoint: 1% on goods procurement, 3% on service fees, 5% on rent and royalties, 15% on foreign dividends. SBT (Specific Business Tax) applies to banking-sector interest income (3.3%) and real-property sales within 5 years of acquisition (3.3%). For real-estate transactions, SBT is frequently the largest transaction cost after stamp duty.

Revenue Code B.E. 2481; RD departmental instructions; MoF VAT royal decrees

Data as of: Current as of 2025

RD revenue collection by tax type: FY2022-FY2024

VAT and CIT dominate; PIT and WHT round out the collection base.

VAT

FY2022 (THB B)

840

FY2023 (THB B)

900

FY2024 (THB B est.)

950

Notes

Closely tracks private consumption and imports

CIT

FY2022 (THB B)

620

FY2023 (THB B)

700

FY2024 (THB B est.)

730

Notes

Sensitive to corporate profitability cycle

PIT

FY2022 (THB B)

350

FY2023 (THB B)

370

FY2024 (THB B est.)

380

Notes

Includes WHT on employment income

WHT (non-PIT)

FY2022 (THB B)

220

FY2023 (THB B)

240

FY2024 (THB B est.)

260

Notes

Service fees, royalties, dividends

SBT and other

FY2022 (THB B)

FY2023 (THB B)

FY2024 (THB B est.)

Notes

Banking sector; real-property transactions

Total RD

FY2022 (THB B)

2,110

FY2023 (THB B)

2,300

FY2024 (THB B est.)

2,400+

Notes

FY2024 is estimate

Tax type	FY2022 (THB B)	FY2023 (THB B)	FY2024 (THB B est.)	Notes
VAT	840	900	950	Closely tracks private consumption and imports
CIT	620	700	730	Sensitive to corporate profitability cycle
PIT	350	370	380	Includes WHT on employment income
WHT (non-PIT)	220	240	260	Service fees, royalties, dividends
SBT and other	80	90	80	Banking sector; real-property transactions
Total RD	2,110	2,300	2,400+	FY2024 is estimate

MoF fiscal statistics; RD annual performance report; BOT economic database

Data as of: FY2022-FY2024 (FY2024 estimate)

Figures in THB billions. Customs and Excise collect separately; RD's THB 2.4T represents ~60% of total consolidated government revenue.

Pillar-2 and the RD's QDMTT implementation

Thailand has committed to implementing the OECD Pillar-2 Global Minimum Tax at 15% for in-scope multinationals (consolidated group revenue above EUR 750M). The Revenue Department is drafting the Qualifying Domestic Minimum Top-up Tax (QDMTT) legislation, targeting implementation for fiscal years beginning 1 January 2025. This creates a direct interaction between BOI tax holidays and Pillar-2 obligations: a company with a BOI CIT exemption may face a QDMTT top-up if its effective tax rate falls below 15% in Thailand.

The interaction between BOI promotion and Pillar-2 is the most significant tax-policy change for multinationals in Thailand since the IBC regime launched in 2018. The RD, BOI, and Ministry of Finance are coordinating to determine whether Qualified Refundable Tax Credits (QRTCs) or other policy-consistent mechanisms will preserve Thailand's investment-promotion competitiveness. As of May 2025, the QDMTT draft law has not been enacted, creating compliance uncertainty for in-scope multinationals planning capital allocation.

OECD Pillar Two model rules; RD Pillar-2 consultation documents; BOI-MoF joint statement 2024

Data as of: 2025

High-impact RD rule changes: 2021-2025

2021 — Digital VAT

e-Service VAT on foreign digital platforms (Sep 2021)

Foreign digital-service providers with Thai end-users above $52,174 annual revenue must register for VAT and file monthly PP.30. Approximately 200 foreign platforms registered in the first year. Netflix, Google, Meta, LINE, and similar operators are now effectively Thai VAT collectors — a compliance and reporting obligation change that affects platform-business models.

2023-2024 — Foreign income

Paw. 161 closes foreign-income deferral (effective 1 Jan 2024)

Prior to 2024 Thai tax residents could defer foreign-sourced income by not remitting it in the same year. RD Instruction Paw. 161/2566 removed the same-year requirement: all foreign-sourced income remitted to Thailand by a tax resident becomes assessable regardless of when it was earned. This creates disclosure obligations for HNW individuals, crypto holders, and fund managers resident in Thailand.

2024-2025 — e-Tax Invoice

e-Tax Invoice and e-Receipt mandatory expansion

RD's e-Tax Invoice system requires VAT-registered companies to issue machine-readable electronic tax invoices via RD-registered providers. From 2024 the threshold for mandatory participation dropped, covering businesses above a revenue threshold. Full mandatory coverage for all 600,000+ registered VAT businesses is targeted by 2026. Compliance requires IT-system integration.

2025 — Transfer pricing

CbCR and transfer-pricing documentation rules tightened

Thailand's Country-by-Country Reporting rules under the Revenue Code (Section 71 bis and ter) require in-scope multinationals to file CbCR with RD within 12 months of year-end. Local file and master file documentation must be prepared annually and available on request. RD has begun conducting transfer-pricing audits with more frequency from 2023; comparable-transaction data sourced from Thai listed companies is the RD's primary benchmarking tool.

RD departmental instructions Paw. 161, 162; Revenue Code Section 71 bis; RD e-Service VAT registration data

Data as of: 2021-2025

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