Thailand

Taxpayers are entitled to credits against their annual tax liability for tax withheld at source.

Persons domiciled and residing in Thailand can elect to take income tax withheld at source from dividends received from companies incorporated in Thailand as a credit against their tax liability. In this case, a credit to take into account the underlying corporate income tax paid on the profit being distributed is added to the dividend income, which is then aggregated with other types of income. Tax at the PIT rates is calculated on the total taxable income and the value of the tax credit is then deducted from the tax so calculated.