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Thailand
Overview
Last reviewed - 02 February 2026Thailand, a country located in Southeast Asia, is bordered by Myanmar to the north and northwest, Lao PDR and Cambodia to the east, Malaysia and the Gulf of Thailand to the south, and the Andaman Sea to the southwest. A unified Thai kingdom was established in the mid-14th century. Known originally as Siam, the country was renamed Thailand (Land of the Free) in 1939. Thailand’s current registered population is approximately 65.7 million, its capital city is Bangkok, its currency is the baht (THB), and the official language is Thai.
Thailand has a well-developed infrastructure, a free-enterprise economy, and generally pro-investment policies, although growth has remained modest in recent years amid structural challenges, high household debt, political uncertainty, and external trade volatility. After the sharp COVID-19-related contraction in 2020 and the gradual recovery that followed, Thailand’s economy expanded by 2.4% in 2025, supported by stronger private consumption, investment, exports, and a continuing recovery in tourism. In the fourth quarter of 2025, GDP growth accelerated to 2.5% year on year, while private consumption grew by 3.3% and total investment increased by 8.1%. Merchandise exports also remained a key growth driver, expanding by 9.4% in the fourth quarter of 2025, while foreign tourist arrivals reached 8.85 million, representing more than 90% of the pre-pandemic level. Average inflation remained subdued at approximately -0.1% in 2025. Looking ahead, Thailand’s growth is expected to remain moderate in 2026, with GDP forecast to expand by around 1.5% to 2.5%, supported by private consumption, private investment, government expenditure, tourism, and agricultural production.
PwC Thailand
PwC has had a presence in Thailand for 67 years. Our client base includes some of the largest Thai and multinational companies as well as government institutions. Our close interaction with both economic and state bodies allows us to keep up with the fast-changing business environment. We have over 2,000 people working in our Bangkok-based office.
Quick rates and dates
| Corporate income tax (CIT) rates | |
|---|---|
| Headline CIT rate (%) |
20 |
| Corporate income tax (CIT) due dates | |
|---|---|
| CIT return due date |
Within 150 days from the closing date of the accounting period. |
| CIT final payment due date |
Within 150 days from the closing date of the accounting period. |
| CIT estimated payment due dates |
Within two months after the end of the first six months of the accounting period. |
| Personal income tax (PIT) rates | |
|---|---|
| Headline PIT rate (%) |
35 |
| Personal income tax (PIT) due dates | |
|---|---|
| PIT return due date |
31 March |
| PIT final payment due date |
31 March |
| PIT estimated payment due dates |
NA (except for certain business income, when tax on the income for the first half-year must be paid by 30 September each year) |
| Value-added tax (VAT) rates | |
|---|---|
| Standard VAT rate (%) |
7 |
| Withholding tax (WHT) rates | |
|---|---|
| WHT rates (%) (Dividends/Interest/Royalties) |
Thai corporate: 10 / 1 / 3; Non-resident corporate: 10 / 15 / 15 |
| Capital gains tax (CGT) rates | |
|---|---|
| Headline corporate capital gains tax rate (%) |
Capital gains are subject to the normal CIT rate. |
| Headline individual capital gains tax rate (%) |
Capital gains are subject to the normal PIT rate. |
| Net wealth/worth tax rates | |
|---|---|
| Headline net wealth/worth tax rate (%) |
NA |
| Inheritance and gift tax rates | |
|---|---|
| Headline inheritance tax rate (%) |
10 |
| Headline gift tax rate (%) |
5 |
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