Corporate tax deadline moves

MAY 13, 2020

The Revenue Department has extended the deadline to file corporate tax returns by 1-2 months, depending on the type of tax.

The extension covers eight tax types whose online filing deadlines fall during the March-August period. The purpose is to ease operators’ burden during the coronavirus crisis, said Finance Minister Uttama Savanayana.

The eight forms are withholding tax Por Ngor Dor 1, 2, 3, 53 and 54, value-added tax Por Por 30 and 36 and specific business tax Por Tor 40.

The tax return filing deadline delay is aimed at reducing risks from the virus outbreak and increasing flexibility to encourage the government’s confinement measures, Mr Uttama said.

The cabinet recently extended the personal income tax return filing deadline from the end of March to August to give individual taxpayers who are liable for additional tax bills more time to comply to help lessen their financial burden.

The Revenue Department’s tax collection fell short of its target by 2.2% for the first half of this fiscal year, signalling that the country’s largest tax-collecting agency will miss this year’s target.

Source : The Bangkok Post