Thailand to apply 15% global minimum corporate tax in 2025

Change in January falls into line with new OECD rules for big multinationals

Thailand follows Vietnam in adopting the 15% minimum corporate tax rate with Indonesia, Malaysia and Singapore on course to join them in 2025. © Reuters

December 27, 2024 20:09 JST

BANGKOK (Reuters) -- Thailand will implement a global minimum corporate tax of 15% on multinational enterprises from Jan. 1, 2025, the finance ministry said on Friday.

The ministry said the "top-up tax" would be levied at the globally agreed minimum tax rate, in alignment with the Global Minimum Tax framework which seeks to set a floor on tax competition, the ministry said in a statement.