Budget committee data show Thailand’s personal income tax base remains narrow, with only 5.14 million of 12.57 million filers actually paying tax.

Under Section 69 of the Revenue Code, a company or juristic partnership is required to file its corporate income tax returns together with a balance sheet, income statement, income account, expenditure or gross income account (as the case may be) which has been certified by its auditors (collectively referred to as the ‘audited accounts’) within 150 days from the last day of an accounting period.