Sriwilai Accounting & Tax Solutions
Specific Business Tax in Thailand
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Tax Guidelines for Specific Businesses in Thailand
Understanding the rules and requirements of Specific Business Tax (SBT) in Thailand can be complex for many companies. SBT is applicable to certain business activities, including service providers, financial institutions, and some import/export operations. The applicable tax rate varies based on the nature of the business and its revenue. A clear understanding of SBT regulations is crucial to avoid potential fines and ensure legal compliance. Staying aligned with these regulations is essential for running a stable and uninterrupted business in Thailand.
Given the intricacies and frequent updates in tax legislation, many businesses choose to work with professionals who specialize in this area. Expert guidance can make a significant difference in ensuring full compliance. At Sriwilai Accounting, we offer specialized services and advice on Specific Business Tax. Our knowledgeable team supports clients in understanding their obligations, helping them stay current with legal changes, avoid penalties, and operate confidently within Thailand’s regulatory framework.
Businesses Subject to SBT
✅ Banking and Financial Services: Including commercial banks, finance companies, and similar financial institutions.
✅ Securities and Credit Foncier Businesses: Entities involved in securities trading and credit foncier operations.
✅ Real Estate Trading: Businesses engaged in buying and selling real estate properties.
✅ Life Insurance: Companies providing life insurance services.
✅ Pawnshops: Establishments offering pawn services.
Filing and Payment:
Businesses subject to SBT are required to file tax returns and remit payments monthly. The Specific Business Tax must be submitted within 15 days following the end of each month. Additionally, a 10% municipality tax is levied on the SBT amount, making the effective rate higher than the nominal rate.
Registration:
Businesses liable for SBT must register with the Revenue Department. Registration is typically required for entities engaging in activities such as banking, finance, real estate trading, and other specified services.
Recent Developments:
As of 2025, the Thai government has introduced a reduced SBT rate of 0.01% for certain revenues derived by commercial banks and finance, securities, and credit foncier businesses, as well as businesses with operations similar to commercial banking. This reduction aims to align with international tax standards and enhance the competitiveness of Thailand’s financial sector.
