Finance Minister Ekniti Nitithanprapas
The cabinet has approved an extension of the reduced e-withholding tax rate through 2027, which is expected to enhance business liquidity by roughly 27 billion baht.Speaking after Tuesday's cabinet meeting, Finance Minister Ekniti Nitithanprapas said the cabinet approved the extension of the reduced withholding tax rate until the end of 2027 from its original expiry date in 2025. The measure applies retroactively.
Under the extension, the withholding tax rate remains at 1%, reduced from the standard rates of 5%, 3% and 2%, for assessable income payments made electronically to both individuals and juristic persons.
Eligible payments include rent, commissions, copyright costs, service fees, contract work payments, and fees for independent professional services.
The measure is intended to enhance business liquidity and reduce administrative and documentation burdens.
