News No.   :  13/2009

Date             :  12 May 2009

Subject        :  Credit measure for 2008 corporate income tax payment of SMEs

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                         On April 28, 2009, the Cabinet approved credit measure for SMEs’ corporate income tax payment of tax year 2008. The 2008 corporate income tax payment deadline is within May 2009. The Ministry of Finance has provided help to SMEs through Small Business Credit Guarantee Corporation providing guarantee for SMEs wishing to request loan from specialized financial institutions or commercial banks to pay corporate income tax.

                         Therefore, SMEs that are subject to corporate tax payment of year 2008 which has no corporate income tax debt may contact their commercial banks or specialized financial institutions to request loan for tax payment. After making loan request, SMEs should file corporate income tax return (P.N.D. 50) at Area Revenue Branch Office where their headquarters are situated. SMEs must also request for evidence of corporate income tax liability (Bor. Chor. 35) and evidence of tax debt verification from Area Revenue Branch Office and submitting the evidences to banks in order to request for loan. When a bank loan is approved, SMEs can pay tax by cheque issued by banks within May 2009.

                         Mr. Vinai Vittavasgarnvej, Director-General of the Revenue Department, announced that “SMEs which are corporate or juristic entity suffering from economic downturns and domestic unsettled situation resulting in liquidity shortage and being unable to settle tax payment within due date may utilize such credit measure which will alleviate burden of SMEs without owing tax to the Revenue Department.”