Income tax incentives for small Income tax incentives for small and medium enterprises A comparative study between Thailand and Singapore Income tax incentives for small and medium enterprises A comparative study between Thailand and Singapore

Abstract

The objective of this article is to consider the income taxation for small and medium enterprises. This aims to understand the guidelines for determining income tax incentive measures in Thailand. By studying the comparison with the income tax incentives of Thailand has adopted under the Revenue Code and the income tax incentives of Singapore under the Income Tax act. To find income tax incentive that can applies in Thailand. This research is a document research. Researching and collecting data from the Revenue Code and secondary law issued by virtue of the Revenue Code Including guidelines for relevant government agencies, such as the Revenue Department. From the study found that the tax law of Thailand emphasizes the income tax incentive measures against Entrepreneurs of small and medium enterprises, a juristic person type. In addition, guidelines for granting income tax benefits do not have criteria for separating new entrepreneurs at a special rate than those who have been in business for a period of time. Moreover, there is no tax relief in the year that the entrepreneurs suffer losses, only allowing the accumulated losses to be deducted as expenses in the future. Lastly, there are no tax incentives for small and medium-sized enterprises that invest in research and development productivity specifically and do not provide tax credits in cash.