already registered with the Revenue Department to join the single financial account scheme. The department expects more than 300,000 SME operators will apply.
SME operators with maximum annual sales of 500 million baht have until March 15 to register in order to show their intention of using a single financial account. Operators meeting the deadline will be shielded from retroactive scrutiny.
Registered SMEs with maximum capital of 5 million baht and revenue of 30 million or less for the 2015 accounting year will have no tax burden for the 2016 accounting year, a 10% corporate tax rate for net profits over 300,000 baht for the 2017 accounting year and tax exemption for net profits of no more than 150,000 baht. Normal rates will resume from 2018